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Client Challenge
A major financial institution recognized that its risk management program was fragmented across five distinct teams, each operating with its own processes, priorities, and technologies. This siloed approach led to:
- Inefficiencies in risk management due to redundant processes and inconsistent risk assessments.
- Unclear technology priorities, resulting in suboptimal investments.
- Difficulty in aligning risk management activities with enterprise objectives.
The client needed an expert assessment to identify opportunities for improvement, streamline processes, and optimize the allocation of resources.
Our Solution
SureStep was engaged to conduct a full-day GRC Forge assessment workshop, leveraging our proven framework for Governance, Risk, and Compliance optimization. Our approach included:
- Engaging stakeholders from all five risk management teams, ensuring that diverse perspectives were captured.
- Conducting a detailed review of each team’s processes, technology usage, and resource allocation.
- Using our GRC Forge methodology to evaluate each team's alignment with industry best practices.
- Identifying process overlaps, technology redundancies, and misaligned priorities.
- Developing a comprehensive assessment report, including:
- Recommendations for better integration between risk teams.
- Prioritization of technology investments to enhance GRC capabilities.
- Strategies for more efficient deployment of resources, aligning with enterprise objectives.
Results Achieved
- A clear, actionable roadmap for optimizing risk management across all five teams.
- Identified opportunities to consolidate overlapping processes, reducing administrative overhead.
- Recommended a prioritized technology investment plan, ensuring the client focuses on high-value initiatives.
- Provided guidance on resource deployment, enhancing team efficiency and collaboration.
- Positioned the client to achieve greater consistency and alignment in risk management practices.
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