Why?
Risk management becomes a top concern in the financial industry but also in other companies with large risky operations.
We see issues relating to information gaps in risk management at various levels:
- At the data side, the risk requirements and the associated risk systems landscape becomes much more complex. Internal and external systems are not fully integrated and create overlapping data and/or data conflicts. There are often data quality issues. Implementation of new releases of software does not automatically respond to missing functionalities formulated by users.
- Confronted with missing functionalities, the processing of the data relies on a set of manual processes, such as the use of spreadsheets, and the presence of their respective owners. This generates a human risk not to be underestimated.
- At the user side, different types of risks are monitored in different departments and should be integrated As a result, major risks are not easily highlighted.
- Signing-off the risk results in such a context may also become very complex… and complicated.
The two sides of the information gap are widening because, the volume of risk data increases and expectations of users, such as regulators or the top management increase. We think that any risk management organization must have its own capacity to produce flexible, useful and reliable management information. It must less rely on other departments such as IT or Finance to do so.
How?
At a high level we propose a data governance framework, aiming at improving the information quality.
We combine different solutions and customize them to the specificities of the risk management environment.
We implement a Data Factory to produce useful and trustful information and create easy-to-understand reports and dashboards. We implement a Back Office to produce them.
Our experts connect to the most common ERP risk chains such as Fermat, FinStudio...
Based on the experience gained in previous projects, several profiles within Deployments Factory are also certified in risk management (GARP, Risk management,...) and have gained expert domain knowledge (Basel II/III, stress testing, ...).
What?
- Acceptance of Basel 2 chain - Global Basel 2 Program Management @Fortis Bank Belgium (2005-2008), Fortis Bank Netherlands (2008-2010)
- Data quality governance and data quality project @ ABN-Amro (2009-2010)
- Set-up and operations of an industrial Management Reporting Cube @ Fortis Bank Belgium (2005-2008), Fortis Bank Netherlands (2008-2010), BNP-Paribas Fortis (on-going)
- Set-up and operations of a recurring industrial acceptance process @ Fortis Bank Belgium (2005-2008), Fortis Bank Netherlands (2008-2010), BNP-Paribas Fortis (on-going)
- Basel 2 Stress testing @ Fortis Bank Belgium (2005-2008), Fortis Bank Netherlands (2008-2010), BNP-Paribas Fortis (on-going)
- Basel 2 Simulation & forecasting @ Fortis Bank Belgium (2005-2008), Fortis Bank Netherlands (2008-2010), BNP-Paribas Fortis (on-going)
