Operational risk, internal and permanent control


Travail d'équipe

Your challenges

The decree of November 3, 2014 on internal control of financial institutions requires the implementation of a permanent control system (1st and 2nd level) which is an essential brick of internal control and a major issue of securing and competitiveness of activities for financial institutions.

Permanent control has two levels:

  • Level 1 represents all controls integrated into operational processes, IT systems (manual and automated controls) and self-checks.
  • Level 2 corresponds to controls carried out after the fact, at a predefined or random frequency, by entities that are not operationally involved and are independent.

The issues for institutions are to:

  • Define the responsibilities of the two levels of defense so as to guarantee effective permanent control.
  • To have shared guidelines and tools, and to rely on an exemplary general management.
  • Review and challenge the permanent control system annually.

Our offers

To assist its clients in reviewing their permanent control system and thus enable them to control all their risks, FINEGAN offers to :

  • Mapping activities, processes, risks and controls.
  • Review the coverage of all activities and risks: No gap
  • Adapt the organization to the requirements of permanent control segmentation:
    o Definition of control objectives specific to each level: No overlap
    o Distribution of roles: RACI, independence of CN1 vs. CN2.
  • Establish governance at all levels to allow for global monitoring of permanent control: group and business line monitoring committees, risk homeostasis.
  • Reinforce the “risk” culture within all teams: training, reporting of alerts with dedicated action plans.

Our support

Our teams assist our clients in defining, according to the organization, the responsibilities of the two levels of defense (CN1 and CN2) in order to guarantee an effective permanent control.

We are also able to define the reference systems (activity, processes, risks, controls) and to assist our clients in the choice of shared tools to carry out controls and collect control data, as well as to review and challenge the permanent control system annually.

In addition to mastering the issues related to permanent control, the expertise of our teams in transformation and project management includes both organizational and IT aspects.

They trust us


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