Objective

Transform the Risk and Compliance function of a global bank that was found to have ineffective governance of process, risks and obligations. The bank’s documentation of process, risk and obligations was inconsistent and data was housed across multiple systems, lacking any integrated view for senior management.

CRISIL's Solution
 

CRISIL designed and implemented a new operating model for an integrated risk and compliance management functional value chain. The CRISIL team developed integrated policies, frameworks and processes and integrated the process architecture system with the GRC system, while ensuring consistency in documentation of process, risks and obligations to enable end to end reporting and governance. The team also identified additional areas of opportunity for process optimisation.

CRISIL executed the engagement through the following process:

Process reference architecture

• Created a common consistent process language across the Group
• Designed the Process Activity Library
• Defined the relationship between roles, activities, systems and their impact within the Group
• Processes mapped in the Group’s central process repository -  Process Knowledge Warehouse – Process 
• Model, Process Map, RACI and SOPs 
• Embedded Risks, Obligations and Controls from the Business Risk Profiles in Process Documents
  

End to end process governance

• Established (charters and tools) of Governance structure that enables informed decision making considering end to end customer journey
• Analysed and identified key performance measures
• Defined dashboards and reports to assist with process performance metrics
• Line of sight between strategy and process socialised with Business 
  

Embed process management

• Identified optimisation (simplification, standardisation, rationalisation and automation) opportunities 
• Futures state processes optimised to support business strategic drivers
• Developed roadmap outlining the  initiatives, business impact, logical sequence and interdependencies to support the delivery of future state processes
• Set up BAU Productivity team to drive process improvement mind-set
  

Client Impact
 

The risk and compliance transformation executed by CRISIL unlocked significant potential value for the global bank, including $30 million through right sourcing, $10 million through process improvement/excellence, and $10 million through digitization.

Questions

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