Essex Lake Group has established itself as an extremely valuable resource to organizations challenged by current intensive regulatory oversight, with its increasingly complex scrutiny and elevated cost of failing to meet requirements. We can help organizations rapidly develop and implement regulatory management programs across the enterprise (all product lines, customer segments and business functions).
We typically undertake end-to-end assessment of processes, policies and practices, and work with the client to devise and implement improvements, best practices and regulatory frameworks. We can cover all individual analytical & process components; and we consider key dimensions of risks like financial impact (under normal & stress scenarios), reputational risk and impact to customers.
Essex Executive Industry Experts have a rich risk management experience, having worked with regulators across the globe such as the OCC and FSA. Our experts have proven track records, having implemented programs such as Basel II and now Basel III, CCAR, ICAP, and Fair Lending. Our Implementation Specialists typically conduct capability gap analysis; review internal planning; and develop an understanding of a client’s current processes, operations and models.
When we test, build or enhance Risk models, Essex’s Model Peer Review Committee will confirm the model performance and the implementation roadmap; and all required documentation is provided to assist in a fault-free implementation for the client.
The implementation is greatly aided by the customized Visibility Tools that present the client with a complete end-to-end holistic view for robust process management; identification of key vulnerabilities & gaps; and to detect any systematic failures. We also provide tools for data management, addressing issues of Data Quality and Data Lineage among other issues.
These methods and tools, coupled with the experience of Essex Experts, accelerate the implementation process and result in greatly increased effectiveness of client resources devoted to regulatory issues.