Challenge
Zyston was approached regarding the merger of two fortune 500 banks to create the 6th largest bank in the US. Risk processes for each bank differed creating a potential scenario were combining risks into one portfolio could either over or understate the banks risk profile. There was a need not only for understanding how to merge business risk processes into a conducive end to end process but an understanding of the involved technologies presenting the risk within each bank so proper reconciliation of risks could be performed and reduce the overall risk footprint.
Solution
Coherent processes were created for combining the risk portfolios into one central repository so they could be analyzed holistically. The use of groupings allowed for organizing like risks and the spirit of how each risk was created was reviewed. Zyston determined if the involved technologies and associated risks were similar enough to consolidate but still encompass the breadth of the involved technologies.
Results
Remediation plans and dates were revised for each consolidated risk and resources allocated to solve them. A total risk reduction was achieved.
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