Safety & Soundness Risk Analytics Platform
Objective
Develop a scalable data analytics platform, that automates critical safety and soundness dashboards and alerts, while laying the foundations for the evolution to predictive and prescriptive decisioning.
Industry: Financial Services – Commercial Banking
Services: Technology Innovation
Technology: Unified Risk Analytics Platform
Reduced potentials losses associated with risk
Optimized resource effectiveness with proper planning
Innovated with AI to deploy a comprehensive solution for risk assessment and management
Our Client
Our client is a Fortune 100 global financial services firm offering a comprehensive range of banking and investment products across over 160 countries. Renowned for its innovation and expansive international presence, the company continues to be a dominant force in the financial industry, serving millions of customers worldwide.
Challenge
Financial institutions are continually seeking to improve safety and soundness compliance adherence. Non-compliance with safety and soundness requirements can result in degraded CAMELS ratings, which is often the first domino to fall in a cascading effect on solvency. Without a scalable and effective data analytics platform, financial institutions may find themselves playing catchup with evolving regulatory requirements.
Approach
Develop a Safety and Soundness Risk Analytics Platform, inclusive of data pipelines into a data lake, data cleansing and transformation services.
Establish a foundation for predictive and prescriptive safety and soundness analytics.
Enable custom S&S alerts and dashboards for various stakeholders, including CAP/RE/Issues, GEMs remediation, Vulnerability Assessment, End of Life/Vendor Support remediation, Retail Risk Operations.
Outcomes
- Improved Safety and Soundness CAMELS rating, through the ability to identify, assess root causes and mitigate losses rising out of operations risk
- Expanded Safety and Soundness technology assessments from a sample-based controls methodology to a large-scale automated risk controls assessment, driven by predictive and prescriptive analytics
- Supported planning for upcoming safety and soundness milestones whether its an application upgrade or vulnerability finding
- Automated processes frees up resources to focus more on important tasks and less on manual labor-intensive data munging and data reconciliation
Impact
Reduced potentials losses associated with risk.
Optimized resource effectiveness with proper planning.
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