Case Study
Strategic Governance, Risk and Compliance: preparing the Board for the regulator’s visit
In this case study we outline the brief received from one of our European clients, detail the training programme delivered, and provide the learner feedback to illustrate the effectiveness of a Strategic Governance, Risk and Compliance training programme for the Board.
Our client is a young, entrepreneurial business. They approached us to deliver:
- A just-in-time learning intervention for their Board in readiness for an upcoming regulator’s visit
- An engaging, pragmatic session ensuring the Board left with:
- A unified decision on the Bank’s risk culture
- Awareness of their obligations and the policies
- A clear action plan with SMART deadlines to ensure readiness for the regulator’s visit
- A consistent response to pertinent and critical questions asked by the regulator
Our subject matter expert has advised and held some of the most senior risk roles in global retail banks, fund managers and investment banks. Using his expertise across most risk disciplines, he delivered an engaging programme that covered:
- Reviewing the bank’s existing risk policies, MI and reporting and making recommendations in advance of the review
- An overview of GRC using case studies to review breakdowns in governance, risk and compliance
- The role of Governance and Risk in Strategy and the Board’s role in making strategy work; setting the Directors’ tone, duties and responsibilities
- Evaluating the company’s Risk and Enterprise Risk Management approach; looking at how to identify risks and weaknesses in existing risk identification tools and using famous case studies of risk communication breakdown
- How to create a Compliance programme that integrates with strategic Governance and Risk covering roles and responsibilities of the Management, Board and GRC Heads and the 3 lines of defence
One board member stated they would not have got the right outcome during and after the regulator’s visit (despite being unsure of how it would be of benefit to take 2 days out for the session)
Another said that the debate during the programme meant the Board left the programme understanding what they were likely to be asked during the visit – and more importantly, gained agreement on how they would answer. This demonstrated the unity and understanding the regulator was looking for.
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