A regular risk control self-assessment, commonly referred to as RCSA, is a process of identifying and assessing operational risks to ensure the appropriate controls and oversight are in place so that business objectives can be met. It provides the ability to monitor the gaps and what is being done to close them. RCSAs can lead to meaningful action plans, progress reports, and strategic roadmaps that help organizations remain compliant with their own guidelines, as well as industry regulations. These types of initiatives can also result in significant cost savings.
In a new guide, we outline six ways financial services organizations can employ a strategy focused on building customer and public trust, strengthening a company’s culture, and reducing risk exposure, all while increasing sales. To read the other five ways, you can download the guide here.
