03/04/2013
Why tracerisk?
CASE #1: tracerisk™
The Need: The bank is in an acquisition mode with plans to add as many as three banks per year. Regulators have strongly emphasized the need for effective risk management while the bank deploys capital in the acquisition process. Integrating the acquired banks’ operations into the parent bank will demand continuous assessment of risk.
The Process: Involve the outsourced internal auditors (CAE) in the risk assessment process. The CAE routinely confers with bank management regarding the ever-changing risk profile of the bank. Assess risk at the source and offer advice in risk mitigation.
The Solution: Use tracerisk™ to analyze existing and emerging risks across the entire spectrum of the bank’s activities.
The Implementation: Facilitate the risk assessment process using the tracerisk™ Diamond platform which provides simple, fast, easy and comprehensive analysis of the bank’s risk inventory, risk silos, COSO risk and the resultant residual risk. 10 hours of ‘live’ risk assessment coaching is part of the package. Produce summary and detailed reports that provide management, the Board and the regulators with up-to-the-minute risk profiles.
Ongoing: Use tracerisk™ as the primary risk assessment tool to ensure continuous supervision of the bank’s risk profile. Produce monthly reports for the board and risk committee. Demonstrate due diligence to the regulators that risks are identified and managed within the bank’s risk tolerance.
CASE # 2: tracerisk™
The Need: The bank is in a re-constituting mode as it recovers from a dismal economy where growth has stagnated. Regulators have strongly emphasized the need for effective risk management as the bank prepares to introduce new products and services to re-vitalize market pe*******on.
The Process: Involve the outsourced internal auditors (CAE) in the risk assessment process. The CAE will confer with bank management regarding the new product and service offerings planned for roll-out in the year ahead and analyze the existing array of products and services to ensure that risk levels remain with tolerance levels.
The Solution: Use tracerisk™ to analyze existing and emerging risks across the entire spectrum of the bank’s activities.
The Implementation: Facilitate the risk assessment process using the tracerisk™ Emerald Bank platform which provides simple, fast, easy and comprehensive analysis of the bank’s risk inventory, risk silos, COSO risk and the resultant residual risk. 5 hours of ‘live’ risk assessment coaching is part of the package. Produce summary and detailed reports that provide management, the Board and the regulators with up-to-the-minute risk profiles.
Ongoing: Use tracerisk™ as the primary risk assessment tool to ensure continuous supervision of the bank’s risk profile. Produce monthly reports for the board and risk committee. Demonstrate due diligence to the regulators that risks are identified and managed within the bank’s risk tolerance.
CASE # 3: tracerisk™
The Need: The bank has been a traditionally strong performer but the “new economy” has raised issues about emerging risks. Regulators have emphasized the need for pro-active risk management in an evolving environment where even relatively minor shifts in the bank’s risk profile can become very problematic.
The Process: Involve the outsourced internal auditors (CAE) in the risk assessment process. The CAE will confer with bank management regarding the new product and service offerings planned for roll-out in the year ahead and analyze the existing array of products and services to ensure that risk levels remain with tolerance levels.
The Solution: Use tracerisk™ to analyze existing and emerging risks across the entire spectrum of the bank’s activities.
The Implementation: Facilitate the risk assessment process using the tracerisk™ Sapphire Bank platform which provides simple, fast, easy and comprehensive analysis of the bank’s risk inventory, risk silos, COSO risk and the resultant residual risk. An on-line “Help Desk” is part of the package. Produce summary and detailed reports that provide management, the Board and the regulators with up-to-the-minute risk profiles.
Ongoing: Use tracerisk™ as the primary risk assessment tool to ensure continuous supervision of the bank’s risk profile. Produce monthly reports for the board and risk committee. Demonstrate due diligence to the regulators that risks are identified and managed within the bank’s risk tolerance.
