Development of IT solutions useful for risk assessment of a Challenger Bank

caso sviluppo di soluzioni informatiche

Bank geared towards Italian SMEs and individuals through its network of agents and digital channels

The Bank’s Chief Risk Officer requested MACFIN’s support for the implementation of an IT solution to support the analysis, assessment, monitoring and reporting of operational, reputational and strategic risks.

Goals

Digitalizing

risk evaluation and reporting processes through IT solutions

Making it more robust, replicable and scalable

the methodological approach and operational processes of the risk management function

Activity

Procedural assessment

and interviews with the heads of the Bank's organisational units, in order to survey the control structure in place and identify the segments of operations most exposed to the risk categories to be assessed

Construction of data models

and identification of the functional requirements of customised IT solutions dedicated to the digital management of periodic risk evaluation campaigns, the detection of operational loss events (loss data collection) and the calculation of operational risk indicators (key risk indicators)

Creation of evaluation checklists

of risks specific to the processes of each division, department and organisational unit of the Bank involved in the periodic risk evaluation campaigns

Rationalisation and methodological uniformity

specific risk assessment activities related to the Bank's core processes

Results

Cross-dissemination of risk culture

and IT control in different areas of the organization, overcoming the typical separation between technology and business risks

Coordination and clear segregation of duties

between the parties involved in the execution and validation of risk evaluation and loss data collection respectively

Increased quality and robustness

databases to support risk monitoring and decision-making processes at top management level

Increased timeliness and effectiveness

reporting to the bank's governing bodies

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