| Migrating from a SOX compliance environment filled with Excel spreadsheets and Access databases containing risk and controls information to a more automated, industrial strength tool that can be used to manage the business |
Cost of compliance can be significant without the proper tools in place to manage the information and ongoing procedures |
Understand current risk and controls framework at client
Define requirements for capturing risk and controls data, testing results, and reporting
Decide upon in-house build vs. buy, then implement solution |
At multiple financial institutions, modeled current state processes and captured risk and controls in an automated fashion |
| Preparing and executing bank examination procedures in conjunction with regulators is typically manual and resource intensive |
Significant costs to preparing for examinations if no organized procedures exist and signficant risk to failing such examinations if banks cannot adequately demonstrate safety and soundness |
Tactical assistance through preparation of key reports, implementation of controls, and performance of all required analytics and stress testing
For the strategic solution, see the next row |
Designed and implemented solutions for banks to generate key reports in support of regulatory compliance |
| Satisfying all compliance needs and disclosure items is challenging based on availabilty and accessibility of the data necessary to satsify all requirements |
Manually accessing data from disparate sources can be time-consuming and very costly in addition to increasing the risk of inaccurate disclosures |
Develop detailed data mapping of all compliance needs to internal data
Design future state compliance architecture - business, data, technology, and people
Implement solution |
Designed and implemented technologies for a regional bank to conduct key stress testing analytics in preparation for an OTS examination |
