BACKGROUND

CWC supported a leading UK building society’s Chief Operating Office with a programme of improvement for their Risk and Control framework. The programme was in part a response to commitments made to the regulator as well as supporting a 2nd line initiative to implement a new Enterprise Risk Management Framework.

APPROACH

CWC provided a resource augmentation support model. This allowed CWC to flex the resource where it was most required and for greatest impact. Working directly with the client, CWC supported all aspects of the department’s operating model, uplifting permanent resource skill set and working with stakeholders across the bank.

DELIVERABLES

CWC delivered:

  • Establishment of a PMO capability, departmental plan and tracking against milestones including resource utilisation and forecasting
  • Operational resilience strategy development and leadership
  • Risk reporting focussing on bank tech strategy and End of Service Life
  • Cloud controls and governance design
  • Enterprise wide policy uplift
  • Enterprise wide control design, uplift and catalogue aligned to industry standards

IMPACT

Successfully stood up COO Risk and Control function to deliver against departmental priorities and objectives. Impact as follows:

  • Delivered a streamlined enterprise wide policy suite that met industry expectations, standards and regulatory requirements, as well as ensuring that all policies had the same look and feel
  • Enabled for the first time an enterprise wide view of the complete catalogue of controls in operation, thus facilitating the implementation of control tooling and subsequent continuous improvement and embedding activities
  • Accuracy and impact of Risk reporting improved, risk to £1.5bn five year technology investment and strategy reviewed including end of service life impact
  • Demonstrated delivery against commitments made to regulators