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Accenture helped a major North American bank to improve its risk management practices and ensure compliance with Basel II standards.
This bank is committed to a rigorous and disciplined approach to managing risk.
Since the “credit crunch” began, banks have come under increased pressure to maintain a strong balance sheet and more effectively manage their risk in order to retain the confidence of regulators, shareholders, institutional lenders, analysts and depositors. Regulations such as Basel II, the international standard outlining the amount of capital banks must put aside to guard against financial and operational risks, were designed to ensure the health and viability of the financial system.
While the bank is not required to comply with Basel II (they do not meet the assets threshold), they decided to adopt the new standards voluntarily as part of their broader enterprise risk management strategy. By doing so, they expect a range of benefits: decreased financial and operational risk, a more accurate understanding of their customers’ risk profiles, improved insight into their financial holdings and exposures, and the ability to measure their risk management practices against the international standard.
Accenture is unique in its ability to combine specialized industry knowledge with data management expertise to help its clients transform their risk management operations—how they assess, price, manage and mitigate risks.
Accenture partnered with the bank to manage and deliver the key components of their $200 million-plus enterprise risk management transformation. Accenture’s involvement spanned five key areas:
Overall Program Management
Basel II Rules and Regulations
Credit Data Provisioning
Financial Data Analytics
In bringing together assets and resources—industry insights, leading capabilities in technology, delivery management, process expertise and deep financial services experience—Accenture partnered with the bank to help them achieve their goals and objectives for their enterprise risk management program, including:
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