Staying Ahead of the Game

The client wanted to make sure they were on the right track. They wanted to know if their processes were still fit for purpose, if any risks had changed, and if there were any holes in what they were doing. After all, being forewarned is being forearmed.

This client was a regulated business, and they knew that a health check would not only give them comfort, but it would also give them some steer on what the regulator may want to review. They knew that in the banking world, things could change quickly and unexpectedly, so they wanted to stay ahead of the game.

That's where Barbican Consulting came in. They proposed a desktop review followed by visiting the client. The outcome would be a report for the Board highlighting the relevant issues that needed action. The client was happy with the proposal, and it was undertaken within their timeframe.

The report highlighted around fifteen items, some more important than others. But what was interesting was that most of these issues were already known about. So why get someone from outside to tell you what you already know?

The advantage of having an independent expert report is that it sets the agenda. It means the risks are drawn out and get discussed, not just at the managerial level but at the Board level. That's where it counts. It's also where a time frame for resolution is agreed.

The client was pleased with the outcome. They called it "getting things done". They were able to address the issues and stay ahead of any potential regulatory reviews. They knew that in the banking world, you can never be too careful, and a health check is always a good idea. So, they continued to work with Barbican Consulting to make sure they were on the right track.