Enterprise GRC payback for SteadyBank

[Our final SteadyBank episode finds Ned in Jake's office.  It's November 1 and the board meeting alluded to in our last episode is tomorrow.  Ned has had some help from Paul Winkler and his staff and the GRC vendor on quantifying the system benefits.  Next, Ned got the benefit estimates refined […]

Post a Comment

Keeping a watchful eye

  This week's episode is installment number eight in a nine-part series aimed at fostering understanding of GRC solutions.  It's now October 25, 2012, and it has been six months since the problems cropped up at SteadyBank. The full financial impact of the loss events that have occurred has now […]

Post a Comment

Fixing the process

Ned sees several layers in the process for "fixing the process." SteadyBank's enterprise GRC solution will factor into them all, and will serve to not only affect the needed changes, but also communicate what is expected, and monitor and report on performance relative to those changes. At the top layer, […]

Post a Comment

Dealing with the crisis

  Ned and Jake are of a common mind on next steps for dealing with the crisis.  Ned realizes the fastest way to achieve desired results is to drive actions through the Enterprise GRC solution. In this way, Ned reasons that all appropriate stakeholders will be informed, status will be […]

Post a Comment

Deciding what to do

Ned and Jake now realize that the spike in delinquencies is due to operational risk, not credit quality issues. The change in terms disclosure evidentially went unnoticed by most consumers, since there were no incremental complaints the month after they were mailed. However, when customers all of a sudden had […]

Post a Comment

Quest for the truth

Ned is determined to get to the bottom of the spike in key risk indicators (KRIs).  It would not be long before Peter Principal, the CEO, would be on his doorstep wanting his update on the corporate risk profile for next week’s board meeting.  The focus of the board meeting […]

Post a Comment

Jake adds pieces to the puzzle

  Jake invites Ned down to his office.  Ned grabs his laptop and heads down the hallway to share what he has found and his concerns.  Ned was able to quickly bring Jake up to speed via the SteadyBank Enterprise GRC solution, which he masterfully navigated to substantiate the facts […]

Post a Comment

Ned spots trouble

Ned arrives at his office at seven o’clock on a Monday morning with his morning beverage of choice -- a large coffee that contains two shots of espresso.  Ned usually likes to get the jump on things to start the week, and this week is especially true because he was […]

Post a Comment

Understand GRC through SteadyBank

I am devoting Thursday posts in coming weeks to a banking story designed to illustrate the value that an enterprise GRC solution can bring to a fictitious bank named SteadyBank. The inescapable truth is that in any bank, serious problems will crop up from time-to-time. The impact felt on those occasions has […]

Post a Comment