We performed a gap analysis for an international bank’s New York branch of its new and active product risk assessment process. This resulted in highlighting gaps and recommending key improvements to strengthen the bank’s process for identification, measurement, and monitoring of risks – including compliance, operational, technology, and financial – for the bank’s new product and service introductions and for detecting critical shifts in the risk profile of the bank’s existing product portfolio. The project involved performing walk-throughs with risk management, compliance, and multiple business departments to understand their workflows and identify gaps in risk identification, measurement, and mitigation and make specific and tailored control enhancement recommendations.

Note: This work was performed prior to joining Stout.

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