Enhancing Risk and Compliance functions

In today's dynamic financial landscape, risk and compliance functions within banking institutions face an array of formidable challenges. As custodians of financial stability and regulatory adherence, these functions are tasked with navigating a complex maze of regulations, technological advancements, and evolving customer expectations. However, amidst the pursuit of operational excellence and regulatory compliance, numerous pain points emerge, significantly impacting the effectiveness and efficiency of risk and compliance operations.

With a deep understanding of the challenges and best practices specific of the banking industry, our team of experienced professionals is committed to working with you to streamline processes, minimize disruptions, and strengthen overall performance. From assessing existing frameworks to implementing cutting-edge technology and fostering a culture of compliance, we provide comprehensive support in every step of the way.

We recognize that every bank and financial institution is unique. That's why we take a personalized approach, collaborating closely with your team to develop customized strategies that align with your objectives and priorities. Whether you're seeking to optimize internal controls, enhance regulatory reporting, or strengthen risk management protocols, our experts are equipped to deliver tailored solutions that drive tangible results.

The Risk and Compliance function adheres to a functional orientation and operational model

• The function remains focused on risk categories rather than risk functions, highlighting the urgent requirement to overhaul the operating model to enhance scalability and efficiency.
• Centralizing the function's resources and capabilities towards controls, methodologies/models, reporting, investigations, etc., is pivotal in this context.

The Risk and Compliance function utilizes capabilities and expertise in digital, AI/ML, and robotics.

• The function fails to fully recognize the potential of data- and robotics-driven risk models, despite their ability to enhance decision-making accuracy and speed.
• The function has a restricted understanding of risk technology, Fintech partners, their offerings, and the talent pool with relevant capabilities.

The Risk and Compliance function is entirely dedicated to providing value-added services for business functions

• The function needs to redirect its focus towards executing value-added services for the bank’s business functions and senior management.
• There is a requirement to examine the function’s operating model regarding the delivery of services aimed at enhancing decision-making and providing pertinent information.

The Risk and Compliance function plays an active role in shaping the bank’s strategic agenda

• It is necessary to enhance its engagement in shaping the strategic agendas of both the bank and its business units, particularly in areas such as market strategies and product development.

Strengthening its overall steering and control capabilities is essential in managing 'change-the-bank' (CtB) processes and activities, including involvement in product acceptance and process improvement initiatives.

Unlock the full potential of your risk and compliance functions with adesso. Together, let's build a foundation of resilience, agility, and trust that propels your business toward long-term success in an ever-evolving marketplace.