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CLIENT CASE STUDY


Italian banking group: Risk management portal

Accenture helps an Italian banking group implement a new risk management portal for wealth management and funds.

OVERVIEW

Accenture has helped this large cooperative banking group in Italy implement a new risk management dashboard for wealth management and funds. The new portal will be used for risk limit setting and monitoring, Value at Risk (VaR) calculation and simulation, and asset allocation management.

As a result of the project, risk management controls for wealth management now cover 100% of client portfolios.

Opportunity

The client wanted to develop a new Risk Management Portal for wealth management and funds, improving data usability by introducing a greater level of detail. It also wanted to internalize the Value at Risk (VaR) calculation which it had outsourced, quitting the external vendor license. This would improve the bank’s knowhow and allow for cost cutting. Based on its experience in similar projects, its knowledge of the client’s environment and its known skills in program management, Accenture was asked to support the general coordination of activities for this project.

SOLUTION

To coordinate this project, Accenture managed the Program Management Office and collaborated with the bank’s internal coordinator, establishing shared governance of the project.

Accenture proposed and supported the formalization of a master plan for the project. It monitored the progress of activities and of the organization, and participated in operational meetings. It also facilitated ad hoc demand management for users by collecting issues raised by users, formalizing an issue log, and alerting the owners of these activities to a due date for resolution. This helped to prioritize activities and keep top management informed of progress.

RESULTS

The internalization of the VaR calculation method cuts outsourcing costs, delivering savings, while the new Risk Management Portal facilitates the achievement of improved VaR calculations that make use of greater detail.

Risk management controls for Wealth Management now cover 100 percent of client portfolios. By improving its risk management capability, the bank meets the requirements of regulatory authorities for better control of market risk for wealth management.

The new Risk Management Portal also puts in place a foundation for the development of future risk management processes and strategies.