Our Client:

An investment bank re-examines the risk priorities against evolving regulatory landscapes and new technological innovations.

Objective:

The client wanted to maintain a competitive edge in the disruptive environments by the implementation of a forward-looking risk management approach and framework that would provide a holistic view of how risks were managed and assessed enterprise-wide. They sought our thought leadership and expertise to set up a state of art Enterprise risk management framework which took into considering various factors and challenges that are rampant in the financial markets.

Our Solution:

A diagnostic evaluation for firms current risk controls was carried out. In order to engage the senior executive board for refreshing their vision around ERM best practices an interactive forum was set up for some hours to educate about the latest trends, best practices as well as identify key risks and challenges that the client faced. Participants ranked the top 3 risks that were highly critical to the firm. There were simulations designed to be conducted on quarterly and annual basis to prepare the workforce on what actions to take in events of stress/solvency. These scenarios helped in evaluating the resilience of their current business continuity and disaster recovery planning. The session concluded with senior executives being able to define a firm-wide proactive risk culture.

Successful Outcome:

By bringing together leadership from various departments, we were able to uncover various challenges in different areas of risk across various departments. We helped the client in gaining a unified consensus to establish a robust integrated risk framework and set up accountability on key next steps. An Enterprise Risk management playbook was documented which served as the guide for the ERM department. Governance and framework were set up and this ultimately helped in eradicating fragmented broken risk processes.