This major bank was undertaking a large transformation programme in its Financial Crime function designed to deliver an effective Financial Crime detection and prevention service throughout the Bank, aligned to customer, operational and requirements and architectural principles. The new structure would be more once the programme was complete more automated and digital with access and impact on multiple other parts of the business.

The challenge:

The programme delivered a completely new way of working on financial crime and using the latest technologies and integrating new systems and processes. This presented multiple challenges from an information security point of view. The bank’s CISO requested BSS’s support to ensure security was designed into the project, risks were understood and mitigated where necessary.

The solution:

Barclay Simpson Solutions initially undertook a discovery period which was combined with initial risk assessment for the programme which required extensive stakeholder engagement and the detailed explanation of the risks to the programme leadership. The next phase was a project within the programme to remediate the risks and report on the activity to the CISO. New processes were developed which enhanced security and efficiency. Continuous security support was provided to the programme until a handover to the BAU team was able to happen.

The outcome:

Several cyber initiatives were implemented resulting in reduction of cyber risks whilst meeting regulatory requirements and providing regular reporting to the CISO. The initiatives enabled automation as well as bringing the cyber risks to within risk appetite of the Bank.

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