The Challenge:
A financial institution came under regulatory scrutiny due to unresolved compliance issues and open Matters Requiring Attention (MRAs). Although required to implement a robust, enterprise-wide Risk Management Framework, the organization struggled with execution. Poor planning, ineffective governance, and missed deadlines, increased the risk of further noncompliance.
The Solution:
Eliassen Group was engaged for our expertise in embedding sustainable risk and compliance solutions within the underperforming business line, our team:
- Led the deployment of the Risk Management Framework, including systems, process and policies
- Managed workstreams across risk areas such as RCSA execution, compliance, issue management, and customer remediation
- Developed and executed program and workstream charters, team structures, gap analyses, training programs, and quality assurance protocols
- Designed and implemented governance tools, artifact tracking systems, and executive reporting dashboards
- Verified closure of compliance gaps, collecting and validating hundreds of artifacts
- Supported multiple replanning cycles to ensure alignment with enterprise and regulatory goals
The Result:
Our team delivered all work on time, resulting in measurable improvement in the business line’s compliance program effectiveness rating. Key tools and frameworks developed during the engagement were subsequently adopted across the organization, reinforcing long-term sustainability. Eliassen Group’s consultants helped the organization avoid further regulatory risk and established a repeatable, enterprise-wide foundation for risk management.
