01.
The Challenge
The Client, having recently established a new function within Operational Risk, sought new techniques to manage risk. RGP was engaged to train the team on conducting a tabletop exercise and led the first session, creating 10 scenarios that addressed various phases of a sample process. Each team member reviewed their role and predicted responses in different situations. The exercise resulted in the client adding new controls to mitigate risk in the assessment process and planning quarterly tabletop exercises for continued risk management.
02.
What We Did
RGP deployed a team, led by a former Risk & Compliance Director at Barclays, to devise common risk scenarios likely to occur during assessments of the bank’s procedures, standards, and policies. Scenarios included challenges such as policy owners refusing to provide information or disputing assessment results. The team facilitated discussions with key PMRO members, supervisors, and collaborators, role-playing various stakeholders like Internal Audit and Regulators. After completing all 10 scenarios, the team reflected on lessons learned and identified action items, including adding new controls to the process.
03.
Our Impact
The tabletop exercise resulted in 30+ lessons learned, process improvements, new communication templates, and commitments to quarterly exercises for ongoing risk management.
case studies