Valtree partnered with a top US bank to implement a risk control and self-assessment (RCSA) initiative, ensuring regulatory compliance and paving the way for long-term resilience.
Enhancing Risk Management by Strengthening the Risk and Control Self-Assessment (RCSA) Function
Service Provided
Client challenge
Our client, one of the top 4 banks in the US, was under significant regulatory scrutiny, prompting a comprehensive overhaul of its Risk, Control, and Self-Assessment (RCSA) framework. The key goal was to accurately map business processes, implement strong controls and governance, and establish a robust testing and reporting function to ensure compliance with shifting regulatory requirements. The bank sought talent capable of quick learning, making an immediate impact across various departments, and building institutional knowledge within teams. As a result, they partnered with Crew, chosen for its expertise and rapid adaptability to address these urgent challenges while preserving the bank’s reputation and operational integrity.
Our solution
Facing a significant transformation, our client sought expertise from Valtree Corporation. We partnered with the bank by deploying execution teams composed of specialized members and subject matter experts (SMEs) in process engineering.
These meticulously assembled teams worked hand-in-hand with the bank to improve its RCSA framework by mapping business processes, implementing strong controls and governance structures, and setting up a document repository using iGrafx.
Furthermore, our teams led RCSA workshops that focused on training and change management, ensuring effective communication of changes across the organization and guaranteeing a seamless project progression.
Results
As a result of our initiatives, the bank successfully converted around 80 Crew members into full-time employees, preserving their valuable knowledge and expertise. This transition facilitated the institutionalization of knowledge within the organization, laying the groundwork for long-term growth and compliance. The scalable RCSA framework and processes introduced by Crew empower the bank to effectively respond to future regulatory policy changes, bolstering its compliance and risk management capabilities while offering a competitive advantage in the financial sector.
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