A bank with international operations has implemented Exonaut’s Compliance Management solution to have an automated and centralised internal control framework for the internal control framework. The bank utilises the system to communicate assurance, including residual risk to risk owners and management. Over the course of the implementation project, Exonaut enabled the evaluation of controls and trends, using custom dashboards ot provide an overview of compliance status over time.
Added values for the bank are:
- Increased productivity – risk managers spend less time on administration and more time on substance advisory.
- Makes things easier and gather everything in one place.
- Increase automation in control frameworks and better visualise status of controls and trends in residual risk.
- Risk based decision making based on collected data and communication of control status to risk owners.
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