We are delighted to have supported Global Multilateral Development Bank
Risk and Control Self-Assessments (RCSA)
Our Business Risk team performed the following for various business units of the bank (such as Investment Operations Region 1 and 2, Banking Region 1 and 2, Investment Monitoring Department, Legal, Treasury and Infrastructure):
- Examination and assessment of the current processes
- Identification of operational risks and the corresponding controls
- Development of risks and control matrices and heatmaps of inherent and residual risks
- Provided recommendations of controls to mitigate the identified risks
- Presentation to senior management and Risk Management Department
- Prepared report or presentation slide of the RSCA results to the Risk Committee
Outsourcing (non-IT) and Corporate-level (both IT and non-IT) review
The team also faciltated and performed:
- IT and non-IT corporate-level risk assessments to identify key outsourcing risks and controls, gaps and other observations while also providing recommendations such as industry leading practices
- Assisted and guided the Controller, Treasury, Risk Management, Communications, and Human Resource departments in their risk assessment of the outsourcing services, by evaluating the assessment and responses on Third-party Security and Risk Assessment and providing observations and corresponding recommendations for identified gaps or risks.
Value added
Our Business Risk team leveraged on prior relationships and knowledge of the business operations within the bank, and efficiently identified the risks that the various departments of the bank were facing. The team was able to work closely with the process owners and key stakeholders, and exceeded expectations by producing high quality deliverables. The team also shared industry-leading best practices and recommendations with the Risk and Budget Committees.
