NAVEX
Case Studies
Fintech Company Strengthens Its Lines of Defense with NAVEX IRM
Overview
Fintech Company Strengthens Its Lines of Defense with NAVEX IRMNAVEX |
Application Infrastructure & Middleware - Data Exchange & Integration | |
Finance & Insurance | |
Business Operation | |
System Integration | |
Operational Impact
Improved internal audit ratings by identifying and remediating issues at the very first line of the business. | |
First-line employees now own and manage operational risks. They conduct risk assessments, participate in risk roundtables, and receive training on how to use the dashboards and tools available to them. | |
Implemented second lines of defense, including Ethics and Compliance, Operational Risk Management, Business Continuity, and Privacy Officers, all reporting up to the Chief Risk Officer. | |
Quantitative Benefit
Substantial decrease in the number of internal audit findings and issues to remediate. | |
Decreases in self-reported issues as the organization became better at proactively managing risks. | |
Reduced the number of resources required to drive success. | |