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Risk & Compliance Management Services

A complex regulatory environment and the need for advanced risk management capabilities to meet the digitization needs are driving global risk management spends. On one side, while poor risk data quality has a direct impact on the bottom line of a firm, the need for better integration of risk with the core business processes of a firm is driving adoption of enterprise risk management systems.

BCT offers a comprehensive range of risk and compliance management services which help firms’ gain maximum Return on Investments (RoI) from their current and planned spends in risk and compliance management.

We leverage domain and technology expertise to manage Risk in a dynamic environment by responding to emerging risks and ensuring compliance to regulations cost effectively through a Global delivery model.

BCT Risk & Compliance Offerings

risk-management

Enterprise Risk Management

Strengthen the overall risk management capabilities of an organization through senior management support and increased in the risk awareness within the firm. We work closely to develop a strong governance framework and support the design and implementation of enterprise level processes and systems.

Our Enterprise risk management offering aims to partner our customers for the following:

  • Capability Assessment - Overall current state evaluation to understand the current risk capabilities and identify aspirations through Risk Management awareness and assessment workshops.
  • Deliver the capabilities - Identify quick wins for key recommendations, governance frameworks, risk process optimization, building the necessary technology/data capabilities.
  • Ongoing support to continue to develop and enhance the risk management capabilities along with ongoing training and education services.

Risk Processes & Systems

We identify improvement areas and help in the optimization of the processes and technology systems for individual risks taking into account the industry trends (e.g. digitization, big data, and analytics) as well as the latest regulatory standards which will impact these risks. The key risks we address in the areas such as Credit, Operational, Market, Liquidity, and Technology and Vendor risks. For the specific risks we offer custom services including the following:

  • Data management services to improve the quality of risk data across sources enabling accurate modeling and reporting
  • Need for standardization of the processes and systems across business units and geographies
  • Develop specific dashboards based on relevant Key Risk Indicators

Emerging Risks

With the world transitioning into the digital era the firms have to continually cope with new risks. BCT works closely with our customers to address these emerging risks in a pro-active manner. We address key emerging risks like Reputation risk, conduct risk and vendor risk.

  • Reputation Risk- BCT engages with our customer to facilitate them in deploying frameworks to constantly assess and align their strategies from the view point of the firm’s reputation
  • Conduct Risk- work closely with the firm to increase awareness of conduct risk with senior management and develop the necessary processes and controls to ensure both regulatory compliance and alignment with the risk appetite of the firm
  • Vendor risk – Develop an approach to manage the risks associated with vendors (from a delivery, financial and information security viewpoint) from a business viewpoint, in addition to adhering to the regulatory guidelines around vendor and supplier risk

Information Security Risk Management

Nothing is more valuable than information in this information age. Be it critical information of their business or confidential information of their customers, it is prerequisite for the companies to protect those information from theft and unauthorized access. BCT support our customer in effectively dealing with information security risks through assessment programs which span a discovery phase (understanding of the landscape, current controls), risk identification, vulnerability assessments and risk analysis.

Fraud Management

The last decade has seen an explosion of data both from a volume and complexity viewpoint. We partner firms in tackling fraud by offering the following services:

  • Evaluation of the fraud management processes and systems at an individual process/business unit level as well as an enterprise level
  • Implementation of fraud management and anti-money laundering technology solutions to reduce incidence of fraud and protect intellectual property
  • Deep insights into the latest fraud and Anti money laundering regulations
  • Partner the bank to tackle key business challenges like reduction of false positives which will increase the overall productivity

Compliance function optimization

The volume, velocity and complexity of regulations have increased tremendously. We identify optimization areas within the compliance function and work closely to manage multiple regulatory initiatives in an integrated manner.

  • Compliance function optimization across organization, governance, process and delivery
  • Regulatory compliance for regulations with a global impact (e.g. Basel guidelines around risk data aggregation and reporting, PCI, COBIT etc.)
  • Compliance with local geography regulations
  • Compliance PMO to manage multiple regulations
  • Compliance market scan to provide insights on the latest regulations

Risk Dashboards & Regulatory Reporting

Risk Dashboards

  • Combine enterprise risk reporting with individual risk needs
  • Rich visualization capabilities leveraging latest technologies
  • Custom reports to management stakeholders including drill down capabilities
  • Availability of reports through different delivery mechanisms

Regulatory Reporting

  • Help banks to comply with a variety of regulatory reporting requirements. In addition to geography specific reports, we support the need to comply with reporting requirements from global regulations/standards including COREP/FINREP etc.

Testing & Validation

Globally banks are undergoing multiple tests to evaluate their financial soundness in various scenarios including the Federal stress tests in USA as well as the Asset Quality Reviews (AQR) in Europe. While the level and depth of these tests vary by geography we partner banks in

  • Validation of the different risk models from an onsite/offshore model to bring in cost efficiencies as well as incorporate leading practices
  • Carry out detailed information security risk assessments including vulnerability and penetration testing services to identify key risks
  • Leverage our testing center of excellence to carry out a variety of tests including Cloud, Disaster Recovery and Product testing services as per the need

Value Proposition

Global Expertise - Our Risk and Compliance team takes a Global Approach where we combine the expertise from global experts in risk management together with the local geography insights based on years of client relationships in order to deliver customized solutions which add maximum value.

Differentiated Value Adding Assets - BCT has a strong suite of differentiated assets ranging from Risk listeners, Maturity evaluation toolkits, Compliance delivery model, Functional testing frameworks which collectively bring in leading practices and also accelerate the assessment and Implementation time.

Strong Alliances - BCT works in partnership with the world’s leaders in Risk Management Solutions, Wolters Kluwer Financial Services (WKFS). The solutions assess the level of threat for the Bank in relation to customer impact and also monitor various types of transactions (ATM, Remote Banking, Wire/ACH Transfers, Deposits) conducted by internal and external resources across multiple channels. BCT has also partnered with Prospero FDS to help banks address fraud threats including credit card, debit card check and money-laundering fraud.

Flexible Delivery Models - BCT has experts with insights in setting up multiple delivery models to manage compliance including onsite/offshore models as well as complete compliance shared service models.

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