Project Description

Bank Robotic Process

THE CLIENT PROBLEM

The Risk Management Committee of this large multinational bank had previously expressed concerns about the timeliness of preparing risk weighted asset numbers used in capital ratios and the limited time to validate the results prior to disclosing to the market. There was heightened concern with the end of year credit risk weighted assets production run given end of year results announcement was planned to be earlier compared to previous years.

Top of mind for management was to avoid a major reporting compliance breach and reputation event should it not be able to report key capital measures during the market results period because key capital measures were not ready or subsequently found to be inaccurate.

REDCREW SOLUTION

  • Complete an end to end process diagnostic to identify process, data quality and reporting areas that heightened risk and then identify a range of operating model, data quality improvements, process automation and oversight controls.

  • Lead the project to deploy the agreed cloud based, robotic processing tool (RPA) that included:

  • Conducting a proof of concept and parallel run of the nominated RPA tool

  • Overseeing a vendor governance, security control and delivered risk assessments and operational readiness reviews

  • Assisting in the contract preparation and negotiations of the software as a service (SaaS) agreement

  • Work with the technology and operations team to develop and deploy an operating model for how the new RPA capability would be governed and managed.

BENEFITS DELIVERED

The project delivered a cloud based, robotic process automation, software as a service and operating model that reduced the highlighted operational risk by:

  • Reducing the monthly process time by 4 business days (30% reduction) that could then be used to strengthen validation and governance processes

  • Stabilising the process and provided expert users with powerful tools that removed the dependency on error prone and unsupported bespoke spread sheets and databases

  • Reducing the number of manual interventions

  • Increased oversight confidence in the process through improved repeatability and auditability.

As an additional benefit, the project enabled previously offshored services to be brought back in-house at a significant cost saving.

Note: Some case studies represent specific RedCrew projects while others represent solutions implemented by RedCrew founders in other contexts.

Have a Technology Challenge?

Get in touch with us today and to start the digital transformation.

Let’s Chat