The COVID-19 crisis has renewed business focus on operational risk and resilience, and business continuity planning (BCP). These activities require an in-depth understanding of products, and oversight of responsibilities and key risks across the organisation.
Equally the recent crisis requires organisations to focus on costs whilst also adapting to its changing customer needs, in terms of revised terms, increased claims etc.
KPMG has designed a bespoke methodology that will provide organisations with a comprehensive understanding of their products and underlying control environment and reduce the time 1st Line Of Defence and 2nd Line Of Defence spend on assuring products through introducing automation and preventative controls.
In the current environment, firms are striving to reduce costs and our methodology assists by reducing the manual effort required, and arming our clients with data oriented predictive tooling. In addition, it arms our clients with the information required to rationalise and /or simplify product sets while maintaining its customer and regulatory expectations.