Case Study: a Fortune 100 financial services holding company cuts compliance workload by 80% with RiskWatch

Fortune 100 Financial Services Holding Company cuts compliance workload by 80% with RiskWatch

RiskWatch helped a fortune 100 financial services holding company overcome a highly manual and time-consuming compliance process. The customer's challenge involved managing twelve different regulatory frameworks across multiple spreadsheets, which required a 14-day evidence collection cycle and a six-week scramble to prepare for audits every quarter. This labor-intensive program consumed three full-time employees, leaving no capacity for other risk work.

The solution implemented was the RiskWatch platform, which consolidated the twelve frameworks into a single, cross-mapped control library and provided a continuous evidence vault. This allowed the customer to cut their compliance workload by 80%, reduce evidence collection from 14 days to a continuous process, and shrink audit preparation time from six weeks to just four days. As a result of using RiskWatch, the firm was able to reallocate 2.4 of its 3 dedicated compliance FTEs to other strategic risk initiatives.

Fortune 100 Financial Services Holding Company