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/ / Business Consulting

Assessing & Implementing a Governance, Risk & Compliance Solution for a Leading US Bank

A leading US bank asked Synechron to partner with a qualified vendor for the selection of a Governance, Risk & Compliance (GRC) platform to support enterprise-wide testing for evaluation of controls effectiveness for the operations and compliance risk.

Synechron undertook a discovery of the business and technology requirements for a Risk Control Self-Assessment (RCSA) and Incremental Compliance Testing (ICT). We then documented design specifications to support RCSA, ICT, Target Testing, Issue and Remediation Validation and assisted the bank’s supply chain and vendor relations team in a third-party risk assessment.

/ / Implementing a Phased ‘Enterprise Integrated Risk Management’ Solution

Synechron’s delivery of this program included:

  • Implementing a robust solution using RSA Archer’s audit management solution, integrating with upstream/downstream applications, and arranging show back sessions with stakeholders
  • Solutioning to accommodate up to 1,200 users and the processing of 100,000 annual test records
  • Enabling one platform to support various testing, audit history, workflow approval, and data retention/purging
  • Integration with centralized risk and finance data
  • Phase 1 of this project included designing and implementing a systemic optimized and standardized workflow for ‘Enterprise Integrated Risk Management’, per the industry standards and best practices
  • Phase 2 included implementing cognitive compliance tooling using real-time analytics and data science, mapping risks and controls, and annual capacity planning to execute tests for calculating risk and controls effectiveness ratings
GRC Capabilities
GRC Capabilities second
Remediation to achieve
Heightened system maintainability
Increased ROI by 25
Reduced overall complexity by 45
Reduced man hours
operating efficiency

A global team with a laser focus

photo of Gaurav Garg

Gaurav Garg

Director - GRC Practice and Regulatory Relations

Charlotte, NC