RiskIQ undertook a focused review of a wealth management client’s risk and compliance programme, in order to satisfy the regulator.
In addition to meeting regulatory requirements, the review served as an opportunity to recommend good practices proportionate to the nature and size of the client’s business, to establish a baseline of expectations and performance on which the client could build themselves.
The outcome was a successful market licence application and a client gaining the confidence to set and aspire to progressively higher standards of risk and compliance management capability.
RiskIQ developed a credit rating model suited to rate the client bank’s commercial and agribusiness exposures (existing and ‘new to bank’).
The outcome was the newfound ability for the Bank to challenge its existing (judgemental) risk assessments, begin to attribute capital to individual credit exposures, and review their loan pricing accordingly. The model followed relevant good practice criteria, including development, validation, deployment and governance arrangements.
RiskIQ undertook an initial scoping exercise and provided a report to brief the client’s executive team on risk appetite, the practical business benefits of a risk appetite framework and a working proof of concept aligned with the client’s core strategic intentions.
This involved the development of a risk appetite portal within which to trial the development of risk appetite statements and their associated linkages to risk tolerance and limit settings. The client is in the process of trialling the framework and associated tools in a test and learn cycle.