The client is a French retail bank and a subsidiary of the largest French insurance group combining the advantages of an online bank and a network of physical agencies. It offers a whole range of banking services including: current account and loans as well as multiple insurance, complementary health and provident contracts.
Following the Group Audit recommendations, the client had decided to set up an action plan to build a comprehensive and common risk mapping to improve bank risk profile assessment as well the interaction with other strategic processes, i.e ICAAP, ILAAP, Risk Appetite Framework, etc. The risk mapping covers several key components:
The approach retained by Avantage Reply consisted of identifying all the relevant divisions and conducting several workshops to help stakeholders to identify risks inherent to their activities in order to assess their materiality and define an appropriate control plan for key financial risks. To reach the objectives, an experienced team was deployed, including an Associate Partner, a Manager and a Senior Consultant to provide subject matter expert and project management on the building blocks described below:
The risk mapping has been set and the methodology implemented to allow the client to improve internal risk assessment and have a better integration with other risk management processes. The conducted works also allowed the client to better anticipate the preparation of all the other strategic process and ensure consistency.