Case Study: Yorkshire Building Society improves risk visibility with Riskonnect

Operating one integrated Governance, Risk and Compliance system to store, maintain and manage the Society’s risk assessment and assurance data

Yorkshire Building Society, the third largest building society in the UK, needed a way to replace a mix of disconnected software applications used across risk management, compliance, legal, and internal audit. As a mutual organisation with 3 million members, it wanted a central repository for Society-wide risk data and a cloud-based system that could support automatic updates and reduce the burden on IT.

Riskonnect provided Riskonnect Operational Risk Manager and Riskonnect Audit Manager, creating one integrated Governance, Risk and Compliance system for risk assessments, assurance data, RCSA, internal audit, compliance reporting, and legal case management. Yorkshire Building Society said the platform was intuitive and more cost-effective than other options, and in the first 12 months it increased visibility across the Society, reduced labour-intensive data collation and reporting, improved confidence in data integrity, and freed up resources for other work.

Yorkshire Building Society

Ben Johnston

Senior Manager – Risk Framework and Reporting, Enterprise Risk Management