From data quality to network access.
Manage risk, cut costs and comply with regulations
Data is usually the underlying barrier to OpRisk improvement. Spending vast sums of money on consultants and initiatives to remap risks, controls and processes into a new framework doesn’t always enable effective decision making; It doesn’t give you a benchmark, and the RCSA is still a challenging arduous process.
Acin improves your risk and control design to ensure completeness and calibration with your peers. We have three solutions that deliver practitioner skills, technology, intelligent automation, and a peer data network to create the highest level of assured risk control environment within your firm.
Underpinned by machine learning and APIs, Acin is able to clean, improve, and digitize a copy of your risk control environment, finally connecting it into the peer network. Our various solutions support and accelerate your journey towards completeness, and trigger-based assurance within the network.
Accelerate your risk and control data improvement objectives
Firms suffering from inadequate control data quality, structure or standards subscribe to Acin’s data readiness solution, reducing project and transformation program timeframes from years to weeks.
We cleanse and optimize data to the de facto Data Technical Standard (DTS 2.0) for OpRisk controls. Our AI tooling, available through the Acin Platform, categorizes data into controls and non-controls, also exposing duplication and proliferation, for reporting, analysis, acceptance workflows and download purposes.
An enterprise-wide view of your risk control landscape, for management and data staging
Data Platform provides a consolidated view of your risk control data, robust reporting, management tools and automated workflows. This enables you to manage changes and improvements, then synch them back to their originating GRC’s and other repositories.
Data Network Access
Connectivity and calibration with your peer network, in an informed dynamic risk assessment framework
For full dynamic connectivity of your risk control framework, within a network of your peers. Transform your periodic benchmark and onerous RCSA into a faster, more convenient trigger-based exercise, by asset class or risk type.
You will be alerted when data within the Acin Network changes, as new members join and existing members react to changing regulations, external events and perceived threats. This enables you to proactively identify gaps and new control requirements, as they arise.
Bank transformation program accelerated by Acin Data Readiness work
A global retail banking client has operations and a branch network across 15 European and APAC regions, and a complex risk control landscape.
The problem? The bank has several global risk frameworks, and an ever-increasing volume of regional policies and standards that have become costly to manage, inefficient and ineffective.
The solution? Acin’s Data Standardization offer enabled the bank to significantly accelerate its transformation program.
The results? By quickly building a cross-regional risk controls consensus inventory that was endorsed and delivered by both the first and second lines the bank achieved:
- Over 30% reduction in control volume • more than 60% removal of controls objectives
- Significantly lower complexity • increased completeness • measurable improvements in effectiveness and efficiency
- Solving the bank’s complex data challenges was the first phase of its strategy to continuously improve operational risk management.
Acin was selected for its pioneering approach, and for being the only data network and platform capable of achieving this critical business objective.