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Accountant at Work

Enterprise Risk Repository


Client Profile:

A publicly traded full-service bank with over 100 branches across Michigan, $13+ billion in assets, and is the largest publicly held savings bank headquartered in the Midwest.

Client Challenge:

The bank’s risk management group was conducting risk and control self-assessments and storing the results in hundreds of excel files. Reporting was time consuming and data integrity was a concern. They also needed to expand their reporting capabilities by tying in data from other systems; such as an issue and remediation system.

Management brought in Herndonwood to manage the resolution of the gaps because they understood the need to supplement existing staff, obtain missing skills, act quickly, and create structure around the process.


Approach & Solution:

Herndonwood built an enterprise risk repository tool to manage and report on risks, controls, and issues.

Herndonwood services:

  • Gathered requirements

  • Mapped processes

  • Created design plans

  • Built the tool in SQL Server and Access

  • Documented the tool

  • Provided user training and hand-off

Business Impact:

The enterprise risk repository consolidated hundreds of excel files into one database. The tool enabled the bank to enhance the quality and efficiency of their risk and control self-assessments. The tool’s forms made it easier to enter and validate data, which improved productivity and data integrity. The tool also enhanced reporting by mapping data from other systems and performing complex calculations. This allowed risks to be quantified with a score, based on their controls, and related issues.

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