SCOPE OF ENGAGEMENT
A highly successful mid-sized Bank faced a not uncommon problem as it prepared for a fast-approaching annual audit. Rapid growth over the past decade left them without a cohesive, enterprise wide system of data storage and facing the need to quickly and efficiently access data scattered across the organization.
A BASG Senior Risk Consultant was brought in to support the internal team. Time was of the essence and her experience and ability to quickly get up to speed were critical. The audit data was highly manual and dispersed across the enterprise but there was not time or budget to launch a full-scale automation plan. That would be a longer-term goal set for future consideration.
Her approach began with a comprehensive search for all the relevant data and an assessment of the multiple systems in which it was stored and the diverse points of access to that data. She then worked with the internal team to create and document an enterprise wide system of data collection inclusive of processes, procedures, and roadmaps that were consistent, and efficient. The final link in the project was developing a communication plan to enable the Bank’s internal team to effectively share the changes with management and staff to ensure a repeatable process.
The Audit deadline was met satisfactorily. And, of greater value, the Bank had the confidence it needed to face future audits knowing the newly created system would ensure a timely and far more efficient response.