Topic: Recht & Aufsicht
What is BaFin?
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) is the German supervisory authority for banks, insurers, securities trading and payment services — based in Bonn and Frankfurt am Main, founded in 2002.
Consulting mandates in a BaFin-regulated environment require consultancies with a documented track record in MaRisk (minimum requirements for risk management), BAIT (supervisory requirements for IT in financial institutions), KWG (German Banking Act) or ZAG (Payment Services Supervision Act).
Generalist strategy consultancies frequently fail on regulatory detail in BaFin mandates. Specialist boutiques with five to ten years of banking practice are usually the right choice here.
Frequently asked
- Which consulting topics fall within BaFin's remit?
- MaRisk audits, BAIT implementations, KWG compliance, sanctions screening, anti-money-laundering programmes, ICAAP/ILAAP updates and supervisory reporting.
Related terms
- MaRiskMaRisk (Mindestanforderungen an das Risikomanagement) is a BaFin circular setting out the requirements for internal risk management at German banks and financial services providers — binding in substance since 2005, with regular amendments.
- BAITBAIT (Bankaufsichtliche Anforderungen an die IT) is a BaFin circular from 2017 (amended in 2021 and 2024) that specifies IT requirements for banks and financial services providers — complementing MaRisk AT 7.
Last updated: 2026-05-05