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Article
How a Scandal Sparked a Risk Management Transformation
A major trading scandal forced a global bank to rethink its approach to risk. What began as a compliance mandate evolved into a powerful risk management tool that transformed business strategy. This is the story of how RCSA went from a checkbox exercise to a key driver of resilience and growth.
Feb 18, 2025
Craig Spielmann, Risk Intelligence Leader, CNM LLP
Tags:
Resilience
Operational and Non Financial Risk
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- A major trading scandal exposed
critical weaknesses in internal controls, prompting a complete overhaul of risk
management practices.
- The initial compliance-driven
approach to RCSA evolved into a strategic framework that enhanced
decision-making and business resilience.
- Innovative tools and
methodologies, such as exposure-based assessments and automated risk
evaluations, transformed how risks were identified and managed.
- Aligning risk management with
business objectives helped drive engagement, improve profitability, and
strengthen overall control effectiveness.
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