Meet Robert Kochev - Associate Consultant, Prudential Services

Robert Kochev

Can you tell us a bit about your background?

I came to the UK in 2012 from Bulgaria going to school, college and later completing a Bachelor’s degree in Finance and Investment Banking at the University of Reading followed by a Master’s degree in Business and Management at the University of Nottingham. During my time at university, in the summers of 2019 and 2020, I completed internships in the Financial Advisory department at Deloitte in Sofia, where I networked with industry professionals and further developed my interest in the financial sector. For my dissertation at university, I chose to explore the topic of Estonia’s EU integration and euro adoption on its economy, driven by my passion for EU integration and its economic impact.

After graduating, I began my professional journey at Cosegic, where I’ve been able to apply my academic knowledge and continue growing and expanding my knowledge in the regulatory compliance field. I have worked with various types of clients  including hedge fund managers, private equity firms, brokers and corporate finance firms which has allowed me to develop a diverse skill set, including financial analysis, client relationship management, and the ability to adapt to the unique needs and challenges of different types of firms.

What excites you about working for Cosegic?

I am excited about working for Cosegic because of its ongoing expansion and the opportunity to learn from experienced colleagues. The friendly, supportive environment allows me to grow professionally through training sessions, direct mentorship, and managing client relationships. I enjoy explaining complex regulatory topics and appreciate the room for subjectivity in my work. Additionally, Cosegic offers opportunities for growth, as demonstrated by my completion of the Certificate Level of the ICAEW Chartered Accountant qualification, the ACA since joining.

What is the most rewarding part of your job?

The most rewarding part of my job is supporting the risk management function of our clients by helping them understand and enhance their risk processes, ultimately preventing harm to clients, markets, and the firm. I also enjoy providing valuable analysis and insights that enable our clients to make informed decisions.

What areas do you see as the biggest challenges, and what opportunities come with them?

The biggest challenges in the sector include changes in regulations, particularly with new regulatory frameworks and the divergence between the UK and EU. Additionally, the areas that present the greatest challenges, as well as opportunities for growth, are the innovation in cryptocurrencies and the adoption of AI in compliance.

What are you working on at the moment?

Currently, I assist clients in complying with the FCA’s Investment Firms Prudential Regime (IFPR), which came into force on January 1, 2022, though it continues to present a learning curve for FCA-regulated investment firms. My role involves supporting clients with regulatory reporting, addressing queries related to capital and liquidity requirements, and developing and reviewing ICARA documents, wind-down plans, public disclosures, and risk management frameworks. Additionally, I advise clients on their prudential obligations, particularly on how to maintain adequate financial resources in line with the FCA’s Principle #4 – Financial Prudence.

What is the best piece of advice you’ve been given?

The best advice I’ve received is the importance of consistency and that momentum is key to progress.

Describe yourself in three words.

Knowledgeable, curious, adaptable.

Outside of work, what keeps you busy?

Outside of work, I am a keen skier and enjoy spending time outdoors, particularly hiking and cycling in the mountains. I’ve completed parts of the European long-distance paths E4 and E3 and am eager to explore more hiking and skiing destinations across Europe. I also participate in volunteering and exchange programs, which allows me to meet interesting people and broaden my knowledge of languages and cultures.