The Challenge

A financial firm had a significant number of audit and regulatory findings. The velocity of cloud adoption and dynamic digital markets had driven the increase in internal control deficiencies, overwhelming the firm with remediation commitments. The resources needed to address these outstanding remediation items were spreading thin because of a large number of strategic cybersecurity and company initiatives. Deadlines were routinely missed, increasing the risk profile of the firm

Vertex11’s Role

• Evaluated existing portfolio of deficiencies
• Proposed a prioritization and remediation strategy
• Established a program management discipline for remediation
• Performed remediation planning and organized remediation workflows
• Provided skilled and experienced resources to assist in catching up on the outstanding deficiencies
• Combined deficiencies to produce a more sustainable remediation solution
• Developed a risk appetite approach to reprioritized deficiencies to balance future commitments

Success Story

The firm was able to quickly close half of the outstanding deficiencies within six months of the engagement start date. Their new program management function now actively prioritizes and develops remediation plans that are measurable and achievable. The cybersecurity team restored confidence in senior management and the board.

The Vertex11 Advantage

If this firm would have enlisted one of our competitors they wouldn’t have been able to move as quickly and the remediation issues would’ve continued. As always, our most talented and experienced team was on the job and able to map everything out from start to finish to avoid any uncertainty. Many traditional industry consultants would have put a more junior team on this initiative to maximize their resources and billings, resulting in more uncertainty and rework. Rest assured we see these types of challenges all the time. Our clients greatly benefit from our team’s vast experience.

Learn more about Vertex11’s Risk Management.