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Solution

Cognitive Assurance for Risk and Compliance

Driving intelligent intervention in risk information management and control assurance

 

Challenge

Today’s dynamic environment has seen the proliferation of risk across multiple aspects for banks and insurers.  Manual processes in Risk Data with complex regulatory landscape result in inefficiencies in banking and financial institutions and call for specific control assurance solutions. There is increased regulatory rigor and demand for stricter controls and data risk solutions. Higher probability of risk demands enhanced risk and compliance management and effective performance management for controlling the residual risks.

The purpose of risk management solutions, frameworks, and assurance activities is to strengthen the organizational controls. Risk and Compliance functions are looking to drive intelligent interventions in information and control assurances.

TCS Solution

TCS’ CRO team has created a suite of solutions catering to BFSI industry demands and drive intelligent interventions in risk information and control assurance.

  • Risk and Compliance Data Controls Framework: Drive data control transformation facilitating effective data risk management and compliance with regulatory obligations
  • Obligation Analytics Solution: Enable intelligent traceability of obligation and control analytics facilitating compliance and change management
  • Control Testing Automation Solution: Drive cognitive intervention in testing control effectiveness and facilitate control performance management

Benefits

  • Enables compliance with obligations around data risk management
  • Facilitates human guided cognitive automation in risk and compliance management
  • Efficiency and Resilience in control testing and risk assessment with automated testing
  • Increased regulatory confidence on account of scaled and full testing
  • Reduced manual interventions and therefore reduction in operational risk
  • Optimized cost of risk management solutions 

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