The client turned to PwC to assist in the development of a supervisory and surveillance program to control, monitor, and provide visibility into sales practices integrity issues. The bank sought to drive greater accountability in its operating model, design a supporting analytics approach, and develop a roadmap to achieve these capabilities.
- Defined risk categories based on existing taxonomies to measure current capabilities and future targets on a consistent basis.
- Interviewed over 40 executive and branch team members responsible for areas including corporate risk, retail risk, sales strategy, incentives and compensation, data and analytics, branch managers, complaints management, and branch support network.
- Analyzed client's current operating model, roles and responsibilities, data sources and systems, reports and metrics, and analytics capabilities and assessed these against risk categories, identifying risks and opportunities for improvement.
- Proposed changes to current operating model across entire organization, including the processes by which sales practice issues are identified, investigated, and prevented, as well as new types of analytics that can be used to support these enhancements.
- Recommended new controls, alerts, and dashboards to capture potential cases of sales practice misconduct.
- Developed a capability-based roadmap to help the bank achieve shorter- and longer-term wins across several work-streams, including operating model, controls and alerts, technology improvements, and analytics.
Impact on client’s business
- Accelerated path towards implementing roadmap to achieve desired organizational and process changes.
- Client has begun standing up a central analytics team to support sales practices.