Enterprise Risk & Compliance platform
TM Digital Lab provided IT consulting services to European financial institution to implement an Enterprise Integrated Risk Management solution using Governance Risk & Compliance tools to support all three lines of defense for risk mitigation and controls effectiveness rating. We used a phased approach to increase ROI and enhance current processes and practices.
Phase 1: designing and implementing a systematic optimized and standardized workflow for ‘Enterprise Integrated Risk Management,’ per industry standards;
Phase 2: implementing cognitive compliance using real-time analytics and data science, mapping risk and controls, and annual capacity planning to execute tests for calculating risk and controls effectiveness ratings.