Most financial institutions will say, “we already do risk management”.  While this may be true, their risk management activities are often confined to organizational “silos”.  Their approaches to risk assessment, control and monitoring are often narrowly focused and functionally driven.  Consequently, risk management, compliance and corporate governance efforts and costs may be duplicated throughout the institution.  Worse still, this approach may result in significant gaps in the governance, compliance and risk management processes.

Abound’s consultants aid financial institutions in improving the effectiveness, and cost effectiveness, of their governance risk and compliance programs by:

• Evaluating the GRC organizational structure, staffing and capabilities of Internal Audit, Compliance, Security, Loan Review and other
• Evaluating the risk management methods employed by the institution,
• Assessing the role of the Board and its oversight committees in the GRC process
• Reviewing the nature and quality of risk management information systems and report