Risk
Financial institutions - banking

 

ASATS Case Study: Financial Institutions - Banking


Retail finance organization prepared to be divested from its parent company. This mid-sized retail bank and private label credit card company, preparing for the first significant spin out and IPO of a financial organization since the 2009 economic crisis, was designated as a SIFI by government regulatory bodies. After years of growth and stable operations within the parent company, the business was facing major transformation of leadership, organization, and operating processes.

Aon was engaged and worked closely with the CEO and the executive leadership team to design the new organization to operate as a standalone and public help entity. A new organization structure and key capabilities were designed and implemented. Detailed organization design of the risk function was developed with the Chief Risk Officer and his direct reports to meet regulatory compliance and risk management requirements to support the organization's separation and future state evolution as a publicly held company. Key principles of governance, benchmarking, and best practices were employed to ensure clear accountability within the 1st, 2nd, and 3rd level defense framework.