Written by BPS | Jul 21, 2023 1:33:21 PM
$213K annual savings on cost of operations
The Client
A Top 20 U.S. Bank.
Challenge
- Control testing taking more time than expected.
- Longer turn time from Application Owners in completing Risk Questionnaire and providing evidence.
- Several email exchange with Onshore.
- Increased number of escalations.
Solution & Execution
- Shared mailbox for SLK team to monitor timely response and tracking email received from Application Owners.
- Improvising team speed & accuracy of testing.
- Defined internal performance indicators and metrics to drive service excellence and focus on improving TAT and QA.
- Weekly connect & track program with Onshore.
- Created detailed training plans for resource training.
- Empowered Team to schedule meetings directly with Application Owners.
- Created shared mailbox for timely monitor, response and tracking email received from App Owners.
- 2 Level Internal QA procedures introduced for maintaining efficiency.
- Assisted the onshore team on creation and fine tuning the Security Control templates. Provided a list of 135 security controls which is being followed in house.
Value Delivered
- Successfully completed full cycle of control testing for 167 applications which fall under the different categories of FFIEC, High Risk & SOX.
- 100% yearly SLA and Quality conformance for Technology Risk Assurance Testing