Risk management through enhancing risk and control self-assessment (RCSA) function
Turnberry partnered with a leading US bank to execute a risk control and self-assessment (RCSA) initiative that ensured compliance with regulatory standards and established a path to resilience.
Client challenge
Our client, a top 4 US bank, faced intense regulatory scrutiny, which required a major overhaul of its risk, control, and self-assessment (RCSA) framework. The primary objective was to accurately map business processes, establish robust controls and governance, and develop a testing and reporting function to ensure compliance with evolving regulatory demands. The bank needed talent that could learn quickly, make an impact across the organization, and build institutional knowledge within teams. This led to a partnership with Crew, which was selected for its ability to deliver the expertise and rapid adaptability needed to meet these critical challenges while maintaining the bank’s reputation and operational integrity.
Our solution
Facing a massive overhaul, our client turned to Turnberry Solutions for expertise. We engaged with the bank by deploying execution teams composed of members and subject matter experts (SMEs) in process engineering.
These carefully assembled teams collaborated closely with the bank to enhance its RCSA framework by mapping business processes, implementing robust controls and governance structures, and establishing a document repository using iGrafx.
Additionally, our teams led RCSA workshops focused on training and change management to effectively communicate changes across the organization, ensuring the project progressed smoothly without any hiccups.
Results
As a result of our efforts, the bank successfully transitioned approximately 80 Crew members to full-time employees, ensuring the retention of valuable knowledge and expertise. This transition led to the institutionalization of knowledge within the organization, creating a foundation for sustained growth and compliance. The scalable RCSA framework and processes implemented by Crew enable the bank to efficiently adapt to future regulatory policy changes, enhancing its compliance and risk management capabilities and providing a competitive edge in the financial industry.
