Contribute to A Better World By Making Your Business Sustainable
Senior Risk Expertise - Embedded Where It Matters
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Amaranth Brose is a founder-led risk advisory practice built for banks, fintechs, and ambitious companies that carry material risk exposure — and need the rigour to manage it.
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We do not offer generic consulting. We embed senior regulatory and risk expertise directly into your governance structure, decision-making processes, and reporting infrastructure — with the precision that institutional counterparties, regulators, and investors now expect.
Hüseyin Karagül
Senior Enterprise Risk Advisor •Fractional Chief Risk Officer
Amaranth Brose was founded by Hüseyin Karagül — a senior enterprise risk advisor whose career spans financial risk management, quantitative analysis, and regulatory advisory across regulated financial institutions in the Netherlands and the wider European Union.
His work has encompassed credit risk model development and validation, market risk framework design, IFRS 9 implementation, Basel III / CRR3 regulatory alignment, and enterprise-wide risk governance — with engagements including ABN AMRO and Demir-Halk Bank Nederland N.V.
This is not advisory built on frameworks alone. It is expertise developed inside the risk functions of regulated institutions — at the level where regulatory submissions are prepared, where model validation is contested, and where capital decisions are made under supervisory scrutiny.
Amaranth Brose was established to make that level of expertise accessible — directly, without institutional overhead — to the banks, fintechs, and growth-stage companies that need it most.
The Gap We Address
Senior-level risk governance expertise should not be the exclusive domain of large institutions with large risk departments.
Banks, fintechs, and ambitious SMEs all carry material risk exposure. Few have the internal resources — or the institutional depth — to manage it with the rigour that regulators, investors, and counterparties now require.
That gap has a cost. It appears in SREP findings, in capital model weaknesses flagged at validation, in IFRS 9 provisioning that does not hold under supervisory review, in governance structures that collapse under the weight of a Pillar 2 assessment. It also appears in strategic decisions made without proper risk framing — where the downside is understood only in retrospect.
Amaranth Brose was built to close that gap — not with generic consulting outputs, but with the specific regulatory knowledge and hands-on advisory experience that executive-level risk management demands.
What We Offer
The following expertise is not a capabilities list. It is the working knowledge embedded in every mandate Amaranth Brose undertakes.
Regulatory Frameworks
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Basel III / CRR3 capital adequacy and Pillar 2 requirements
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ICAAP / ILAAP narrative development and stress testing
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SREP management and supervisory dialogue
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CRD VI / CRR3 gap analysis and implementation
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EBA guidelines
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Pillar 3 disclosure and regulatory reporting
Quantitative Risk
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IFRS 9 ECL modelling — PD, LGD, EAD and staging
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Credit risk model development and independent validation
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Market risk modelling — VaR, Expected Shortfall, IRRBB
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Counterparty credit risk — SA-CCR, CVA, PFE
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ALM and balance sheet interest rate risk (NII / EVE)
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Stress testing, scenario analysis, and back-testing
Risk Governance
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Enterprise Risk Management (ERM) framework design
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Three Lines of Defence structuring and governance
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Risk appetite framework development
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Risk culture assessment and governance documentation
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Operational risk and ALCO reporting structures
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Model risk governance and validation oversight
Strategy & ESG
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ESG risk integration and materiality assessment
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NGFS climate scenario analysis and stress testing
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CSRD / ESRS alignment and sustainability reporting
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ESG risk appetite and board-level governance
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EBA / ECB climate risk guidelines alignment
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Fractional CRO leadership and risk function buildout
Not Generic Consulting
Most risk consulting produces deliverables. We build decision capacity.
The difference matters. A delivered framework does not make a bank safer. A risk register sitting in SharePoint does not protect capital. What changes outcomes is when the right risk logic is embedded in the decisions your organisation actually makes — at board level, in credit committee, in regulatory submissions, in capital planning.
Amaranth Brose operates from inside that decision-making layer. Our engagements are structured around your real governance architecture, your specific regulatory obligations, and the decisions your leadership team will need to defend — not a consulting template applied from the outside.
We think in systems. Regulatory risk is connected to capital. Capital is connected to strategy. Strategy is connected to governance. ESG risk is connected to all three. Advisory that treats these as separate workstreams produces output; advisory that integrates them produces resilience.
Four Ways We Work Together
No two organisations carry the same risk profile, operate under the same regulatory obligations, or have the same governance maturity. A bank preparing for a SREP cycle needs something different from a fintech building its first ERM framework. An SME seeking to understand its credit exposure needs something different from a mid-market corporate integrating ESG risk into a board-level reporting structure.
Amaranth Brose is structured to reflect that reality. We do not apply fixed consulting templates or pre-packaged service tiers. Every engagement begins with a clear-eyed assessment of where your organisation is, what it needs to achieve, and what timeline and resources are realistic — and is then scoped accordingly. The four practice areas below describe how most mandates are structured, but the boundaries between them are deliberately permeable. Many clients engage across two or three simultaneously, or move between them as their needs evolve.
The entry point is always a diagnostic conversation — not a sales process. If the right answer is a focused three-week project, we will say so. If it calls for an ongoing fractional mandate, we will structure it that way. The objective is always the same: to embed the right level of risk expertise into your organisation at the right moment, in the form that produces the most durable result.
Every Amaranth Brose engagement is scoped to your organisation's specific governance structure, regulatory obligations, and strategic context. The following describes how most mandates are structured.
Fractional CRO
Senior risk leadership embedded on a retainer basis — board participation, regulatory dialogue, ICAAP/ILAAP oversight, risk function governance, and strategic risk reporting.
No full-time hire required.
Risk Advisory & ERM
Project-based and retainer advisory spanning ERM framework design, Three Lines of Defence, regulatory gap analysis, ESG risk integration, SREP preparation, and Basel III / CRR3 alignment.
Quantitative Services
Credit risk model development and validation under IFRS 9 and Basel frameworks — PD, LGD, EAD, market risk, IRRBB, SA-CCR, CVA, and ALM. Delivered with full model risk documentation.
Training
Structured training programmes in credit risk modelling, market risk, IRRBB, and model validation — built around your team's actual models and regulatory context. Complemented by practical toolkits and digital resources.
Begin With a Diagnostic Conversation
To understand how we work and what a mandate with Amaranth Brose involves — begin with a 45-minute diagnostic session.
No obligation.
No generic discovery call.
A focused conversation about your risk governance position, your regulatory context, and where we can add the most value.