From data cleansing to full peer network access that addresses your risk management challenges.
The Acin Network helps you manage risk, cut costs and comply with regulations
Historically, it has been data that is 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 four 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 increasingly de facto Data Technical Standard (DTS) for OpRisk controls. Our AI tooling, available through the Acin Platform, categorizes data into controls and non-controls. This exposes 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 (Partial)
Gain visibility of the consensus in a sector-specific peer group
If you’re not ready to fully connect your risk control framework into one of Acin’s peer networks, we offer access to a restricted view of consensus controls from your selected peer group. Whether you are reviewing e-Trading, Climate Risk or Investment Banking front-to-back, you’ll gain a complete benchmark view of firms that ‘look like you’ and adds completeness to your periodic RCSA process.
Also available are data insights against your chosen consensus controls. Our Data Insight team are continuously mapping potential future regulatory scenarios, available to you through the platform.
Data Network Access (Full)
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.
Retail bank use case
A global retail banking client has operations and a branch network across 15 European and APAC regions, and a complex risk control landscape.
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.
Acin’s Data Optimization offer enabled the bank to significantly accelerate its transformation program.
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