Case Study |
Risk Management
for Retail Bank
The Challenge
Driving Risk Transformation Project
The client, a retail bank based in Belgium, was undergoing a risk transformation project to improve regulatory compliance and ensure financial stability.Β
The project included multiple facets such as risk identification, test coordination, and data management. As a result, the client sought an experienced interim risk manager who could drive various project work streams.
βBy transforming how we manage risks, we’re not just protecting ourselves, but also unlocking opportunities that come with better risk insights.β β Head of Retail Risk Management
Role of Consultport
Consultport proposed 3 strong candidates within 48 hours. The client interviewed 2 candidates and selected an ex-KPMG Manager with rich experience steering risk management projects. The consultant started working with the client 5 days after the initial request.
Approach
Strategic Planning & Analysis
The interim risk manager assessed the existing risk management practices and identified outdated risk assessment methodologies, siloed data sources, and a lack of risk culture integration across departments, which hampered the bank’s ability to proactively manage and mitigate risks.
Solution
Scenario Tests & Data Procedures
The consultant identified critical risk areas and gaps in the existing framework and recommended the implementation of an integrated risk management system that would unify data sources and foster cross-functional collaboration.Β Β
The interim risk manager coordinated between compliance and IT teams to test the new system by performing scenario tests on risk management processes. The scenarios were carefully crafted to mimic real-world situations, and historic data of past performance were incorporated to ensure optimal simulation.Β
The interim risk manager also set up a structured data processing procedure to clean, analyze and archive crucial risk data.
Results
Enhanced Risk Management Practices
Thanks to the well-executed scenario tests, the client identified and addressed vulnerabilities in its existing processes.
The structured data processing procedure improved risk identification and mitigation capabilities, enabled data-driven decision-making, and strengthened compliance with regulatory frameworks.Β
The new processes created a culture of resilient and forward-thinking risk management, positioning the bank for sustainable growth and stability.
Rigorous Risk
Scenario Tests
Streamlined Data Processing
Informed Decision-making & Compliance
The Interim Risk Manager’s expertise played a pivotal role in reshaping our risk management practices and pushing our project forward.
Head of Retail Risk Management of Retail Bank
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