Vantage Point was assigned to perform adequacy and effectiveness testing of the FO key control population. This required developing an understanding of the FO Controls and Methodology, in order to create reports on the team’s testing process throughout the testing cycle. The team produced Risk reports and were responsible for the Orbit Control Change report, answering any control change related queries from the ORM, BMs and the Risks and Controls team.
The team were also involved in the production of the month Conduct Risk MI report used by the Board Risk & Controls and CIB Risk Committee to monitor the conduct risk profile of the Corporate and Institutional Banking Division (CIB). The production of high quality Conduct MI has great significance for the bank, with conduct risk at the core of the regulatory agenda of the UK’s Financial Conduct Authority (FCA).
The Vantage Point analysts worked closely with the MI Reporting manager and business stakeholders to ensure the effective analysis and presentation of management information. They also worked closely with the Conduct Change Programme to help implement an MI system into a BAU state.
The project also entailed being involved in the production and centralised delivery of a Conduct Risk MI report for the run-off part of the business. This exposed our consultants to the process of the winding down sections of the bank, and the different risks that this presents.