Manage your risks

Manage your risks

In today’s economic and regulatory environment, confidence is critical

In the current economic and regulatory environment, organisations need confidence.

As the risk environment changes, organisations need confidence in their data and controls.

We understand the relationship between data, risk and business confidence. Using leading analytics techniques we can help you achieve insight into the internal and external factors that drive risk and could compromise your compliance obligations.

From compliance monitoring and risk prediction through to data security and governance, our data-driven business advisors work with organisations to help drive confidence in their risk management. And in doing so, we are helping build stronger marketplaces, more resilient economies and better relationships between companies, regulators and customers.

 

How is KPMG helping complex organisations turn data into improved performance?

Public or private sector, all large complex organisations struggle to unlock the value of their data. When the UK’s Ministry of Defence faces a data challenge they can’t overcome, KPMG comes to their aid.

In some cases, MoD is working with KPMG to interrogate specific data sets to help solve pressing challenges. For example, when the MoD wanted to optimise their flood defence investments, they worked with KPMG’s data and analytics professionals to model potential flood scenarios and identify the optimal actions to help mitigate flood risk within the budget available.

At the same time, KPMG is also helping MoD respond to their strategic data challenges, improving data governance, control and management in key areas of the organisation. Building upon their long and successful track record of working with MoD to solve significant strategic challenges, KPMG has been actively helping MoD leadership to understand their data; to manage their data; and to drive insights from their data.

We believe that our work has delivered improved performance not only for MOD, but also for the UK fighting force, UK taxpayers and UK allies around the world.

KPMG’s network of professionals knows how to unlock the value of data to drive improved performance for large, complex organisations.

 

How is KPMG using D&A to help banks reduce their compliance risk and improve cost efficiency?

As the cost of regulatory compliance rises, many banks are looking for opportunities to better manage their compliance risks and costs through improved use of data and analytics. Many of the largest are looking to KPMG for help.

KPMG has a long track record of conducting forensic investigations into compliance irregularities for banking clients around the world. Over the past few years, KPMG has extended that expertise to create a suite of data-driven surveillance solutions designed to help banks reduce their cost of compliance and become more proactive in managing the risks of market abuse or other misconduct.

For one global bank, for example, KPMG provides deep electronic surveillance, covering upwards of 4.5 million communications per month for 450 ‘in scope’ employees. Using KPMG’s proprietary surveillance solutions, the bank has improved coverage and reduced their exposure to compliance and misconduct risks. Reviews are now conducted four times faster with over 98 percent reduction of irrelevant results. This has enabled the review team to be reduced by a factor of 10, allowing the bank to secure multimillion pound cost savings.

KPMG’s solutions also cover voice communications. For a large Tier 1 bank, KPMG provides surveillance for the audio recordings of the more than 500,000 calls placed each month by over 650 ‘in scope’ employees. Utilising specialised analytics and voice software solutions, the bank has been able to focus resources on the calls that pose the highest exposure to compliance risk. The results have been equally significant: a 600 percent increase in review efficiency; a reduction in the review team by a factor of 9; reviews are conducted 3 times faster; and £2.5 million in cost savings have been secured annually.

In both cases, the banks selected KPMG not only for their deep experience, but also for their speed to market (coverage often starts within 10 days) and their capabilities - KPMG’s team includes former traders who understand both the systems and the ‘trade speak’.

KPMG’s network of professionals knows how to interrogate data to find the important facts.

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