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Design and Implementation of Bank-wide Controls for a Global Bank’s Continuous Compliance

After a major loss event, a European headquartered global bank retained Citihub Digital to help improve its level of IT controls and risk management by implementing a bank-wide certification process covering the whole IT estate. In parallel, the bank was under intense regulatory scrutiny including the investigation of a high-profile rogue trader incident. Consequently, this initiative had aggressive implementation timelines and was very high profile.

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Implementing Repeatable Processes, Assessments for End Users

Citihub Digital’s delivery of this program included:

  • Providing a team of 12 highly experienced consultants with a blend of audit, banking application architecture and process expertise 
  • Leveraging the banking experience of Citihub’s application architects to reshape the in-flight project, making it more relevant and efficient for end users and ensuring successful adoption, accuracy, and consistency
  • Identification of >50 controls falling between the quality assurance gaps in the existing approach
  • Building and implementation of a repeatable process that included a catalog (listing in-scope controls), process documentation, assessment tooling and operating model, central analysis and reporting, and mobilization and tracking of remediation activities
  • Defining the process and successfully deploying it across 3,000 IT controls with assessment repeating quarterly
  • Once the assessment had been successfully piloted and implemented, Citihub helped define an ongoing service which was transitioned to an internal, lower cost, off-shore service center
GRC Capabilities
Remediation to achieve
Heightened system maintainability
Increased ROI by 25
Reduced overall complexity by 45

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How we’ve helped our clients achieve their transformation goals for other large-scale, global programs