Case Study

Audit Remediation Program for a Global Financial Services Client

Overview

As part of the audit remediation, our client had more than 150 pending audit and regulatory findings.
More than half of the findings were overdue, some – by more than six years.

Challenges

Due to very significant complexity, logistical difficulties, and highly fragmented nature of enterprise processes and assets, it was not possible for feasible to address all of the findings one by one. In the meantime, the number of findings continued to grow.

At the same time, our client had to provide periodic updates to the regulator about the progress of remediation of regulatory and audit findings.

Our Solution and Result

After careful analysis of the underlying root causes, we have identified commonalities and grouped them into the master root causes.

Audit and regulatory findings were then revisited, and based on the similarity of the root causes – grouped into master root causes.

For each of the master root causes – we have established the remediation approach, and based on the similarity of scope – added most of the master root causes as change requests to existing enterprise programs and projects.

Several of the root causes for which the “home” was not found – were initiated as new projects.

This approach had proven to be much more effective and resulted in gradual remediation.

Benefit

Pending and overdue Regulatory and Audit findings addressed

More Case Studies

Established Policy Framework for a Public Sector Client

Established Service Offering on the North American Market

Global Cybersecurity Program with the Enterprise-Wide Impacts

Merger and Acquisition of the Two Insurance Companies

Organizational Change Management Strategy Framework for a Global Regulatory PMO

Performance Assurance Program For a Public Sector Client

Rationalization of the Multi-billion Dollar Portfolio Prioritization Criteria for a Public Sector Client

Recovery of Stalled Customer Loyalty Programs for a Multi-Billion Dollar Telecommunications Company

Recovery of Stalled Program for a Global Consulting Company

Recovery of Stalled Regulatory Program for a Public Sector Client

Valuation System for A Global Financial Services Institution

Value Management Lifecycle for a Public Sector Client

Established PMO for a Global Energy Company

Established Enterprise PMO for a Public Sector Client

Divestiture of Banking Operations in South America

Delivery Portfolio for a Public Sector Client

Budgeting Process for a Public Sector Client

Audit Remediation Program for a Global Financial Services Client

Established PMO for a Transportation Company

Recovery of a Global Cybersecurity Program for a Financial Services Client

Pin It on Pinterest