Featured Insight
Establishing a First-Line Risk Driven Culture To Improve Your Risk
December 2022
The financial services industry is under intense pressure as the concentrated oversight of the markets and scrutiny from Washington lawmakers and regulators increases. The markets look for excellent risk management, protecting consumers and sound financial service practices, while the regulators’ focus remains on protecting consumers and sound financial service practices (i.e., no risk surprises!).
Best practice risk management must be strong at the macro level, but also must be robust at the execution level. The top risk practitioners start with a clear, well-communicated risk appetite position that addresses target market products and target market clients with a strong culture of ownership and escalation. For execution, the three lines of defense framework is commonly recognized as the “gold standard” in the financial services industry. Financial institutions have responded to the heightened risk and increased scrutiny by staffing up in all three lines of defense, with little to no focus on how these three lines effectively work together. Building an integrated process that seamlessly links all three lines of defense will increase their effectiveness and reduce the risk of gaps allowing problems and surprises to occur.
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All Insights
Establishing a First-Line Risk Driven Culture To Improve Your Risk
December 2022
Turn Up the Dial on Agile Implementation by Avoiding These Pitfalls
October 2022
Pulling back the curtain on mortgage technology: A behind the scenes look at how transformation is impacting the industry
August 2022
Turning KYC on its head to drive business growth and improve a company’s risk profile
August 2022
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June 2022
About Reference Point
Reference Point is a strategy, management, and technology consulting firm focused on delivering impactful solutions for the financial services industry. We combine proven experience and practical experience in a unique consulting model to give clients superior quality and superior value. Our engagements are led by former industry executives, supported by top-tier consultants. We partner with our clients to assess challenges and opportunities, create practical strategies, and implement new solutions to drive measurable value for them and their organizations.