NDB is a Sri Lankan-based bank with more than LKR 550bn in assets. It is one of the first banks in Sri Lanka to have a dedicated operational risk function.
This anonymous case study is a retail banking client based in mainland Europe. RiskBusiness has worked with the client since 2007, providing a variety of services, including risk advisory and several core modules from the Graci solution.
This UK bank became a registered bank in 2016, but began operating in 2004, initially as a specialist mortgage provider. It recently expanded its offering to include retail banking and currently has more than £0.75bn in assets and 150+ employees at its London headquarters. In 2019, the bank secured a £60m investment from a leading global alternative investment firm. RiskBusiness has been working with the bank since 2016, when it was in the process of applying for its banking licence.
Novia Financial is a wealth management service dedicated to investment advisors and their clients. The risk and compliance teams at Novia subscribe to the Risk and Compliance modules of Graci, but primarily make use of the Incident Management and Internal Loss Data functionality.
GRC 20/20 Research, LLC (GRC 20/20) provides clarity of insight into governance, risk management, and compliance (GRC) solutions and strategies through objective market research, benchmarking, training, and analysis. We provide independent and objective insight into leading GRC practices and processes, including market dynamics and intelligence; risk, regulatory and technology trends; competitive landscapes; market sizing; expenditure priorities; and mergers and acquisitions.
GRC 20/20 interviewed a number of RiskBusiness clients about our solutions and developed a Solutions Perspective, an independent analyst research paper that looked at the RiskIntelliSet by RiskBusiness and its capabilities and benefits.
This leading Australian bank had previously unsuccessfully tried to implement several three lines of defence models before turning to RiskBusiness to design, prove and implement a principles-based, risk agnostic three lines of risk accountability model.
This client had achieved Advanced Measurement Approach (AMA) model accreditation several years previously, but was concerned that the model was neither fit for purpose nor aligned to current sound industry practice. Without an internal model validation function, the client appointed RiskBusiness to review and validate the AMA model.
This leading Singaporean bank was evaluating the implications, costs and benefits of adopting the Advanced Measurement Approach (AMA) for operational risk regulatory capital. Given operations across South East Asia, the bank retained RiskBusiness to assist establish a checklist of applicable regulatory requirements across the region, supported by a detailed roadmap which the bank could use to progress to the point where an AMA accreditation waiver could be lodged with their host regulator.
This European banking group had operations across Southern and Western Europe, mainly focussed on retail and commercial banking, but with a presence in regional markets, asset and wealth management and an insurance subsidiary. In the majority of its subsidiary operations, the Group made use of the Basic Indicator Approach (BIA) for operational risk regulatory capital, with the Standardised Approach (TSA) used for the home country and consolidated group. The Group was required by its home regulator to undertake an ICAAP, essentially measuring a gross income-based capital figure against a risk-based capital figure.
This Western European bank had been collecting internal loss event data for more than 10 years, initially in a spreadsheet, then later in an internally developed database. In order to make better use of the loss data, both for general risk management and for risk modelling purposes, the data needed to be enriched with additional and more granular classification attributes; however prior to enriching the data, the entire dataset needed a thorough review to correct inappropriate classification, standardise the classification of similar events and to remove linguistic differences. The bank turned to RiskBusiness for assistance.