Internal Audit, Risk, Business & Technology Consulting

Facing an imminent regulatory deadline for new compliance controls and

challenged by the lack of quick and easy technological answers, a global

financial services provider compliance team went in search of alternatives.

The control requirements were complex and changing, but time and budget

constraints ruled out a custom-coded solution. Given the urgency to act, the

company decided to focus on the enterprisewide Microsoft SharePoint platform

that it already had in place, hoping to extend its capabilities to address the

compliance requirement without starting from scratch. To accomplish this,

management knew it needed to bring in an agile team of experts to work in

tandem with company staff to develop a fast and flexible solution. It reached out

to Protiviti’s SharePoint team for assistance.

The proposed approach involved leveraging native features of the company’s

SharePoint platform and extending them with Nintex, a third-party work-

flow management tool that enables rapid automation of business processes.

The approach meant the team could work quickly to deliver a solution that

would 1) address the immediate regulatory requirements, 2) scale to an

enterprise level and 3) require minimum amounts of coding, debugging

and software approvals.

Protiviti’s compliance experts worked with the SharePoint technology team to

advise the organization throughout the implementation of the proposed tech-

nical solution, ensuring all compliance needs were addressed in the process.

Keys to Success

CHANGE REQUESTEDHelp meet a tight compliance deadline

CHANGE ENVISIONEDBuild an automated compliance

tool with off-the-shelf technology,

beginning with a working prototype

as proof of concept

CHANGE ACHIEVEDSix-week rapid prototype development

of a Nintex-enhanced SharePoint

solution that solved the immediate

compliance problem and served as

the basis for a robust and permanent

compliance solution

CLIENT STORY

Financial services giant creates SharePoint-with-Nintex compliance solution with Protiviti’s help

protiviti.com Client Story

In the end, the company’s existing SharePoint platform stored all important

data and forms while integrating with key line-of-business systems of record.

Nintex provided a no-code solution to enhance the SharePoint platform with a

rules-based risk assessment and a scoring engine that enables the company to

assess the quality of risk management.

An important aspect of the project was the melding of internal and external

expertise to maximize speed and efficiency. Protiviti’s SharePoint experts

and the client’s staff formed a joint team, which enabled them to collabo-

rate and communicate effectively and accelerate dramatically the prototype

development. The close interaction allowed for rapid, iterative development, with

changes and course corrections made along the way. Freed from the normally

lengthy approval process by virtue of the prototype status of the development and

deploying agile development techniques more characteristic of a startup, work

progressed quickly in small manageable stages, or “sprints.” This approach led to

the development of a fully functional prototype in just six weeks.

The high level of user engagement and feedback during the development cycle

resulted in a tool that not only met functional specifications, but also fit the user

environment with a degree of precision that would have been difficult for a third

party to achieve from the outside. More important, the solution met the require-

ments of the regulators and helped address the immediate compliance issues.

The financial services provider and Protiviti are currently working together to

expand the concept into a more robust, permanent solution. Specifically, the

client now has a process for aggregating and cross-referencing risk data from

disparate sources, effectively assessing the nature of those risks and prioritizing

them by risk profile. Additional workflows have been set in place to follow up on

issues and ensure implementation of action items.

One of the key success factors in this story was the high degree of client engage-

ment and support, beginning with the tone at the top. Senior management was

fully behind this effort and very engaged from the earliest stages of the process.

The team of internal subject-matter experts provided critical understanding

and guidance on business processes and different categories of regulatory risk.

Finally, there was the exceptional degree to which the client and consultant

became a joint project team.

CLIENT STORY

One of the biggest success factors in this story was the high degree of client engagement and support, beginning with the tone at the top. Senior management was fully behind this effort and very engaged from the earliest stages of the process.

Protiviti is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and our independently owned Member Firms provide consulting solutions in finance, technology, operations, data, analytics, governance, risk and internal audit to our clients through our network of more than 70 offices in over 20 countries.

We have served more than 60 percent of Fortune 1000® and 35 percent of Fortune Global 500® companies. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.

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Another success factor was allowing the methodology and framework to evolve

in real time and treating the technology as an integral part of the solution,

as opposed to an afterthought. As Protiviti worked to modify the company’s

SharePoint environment to support the compliance need, client stakeholders

validated that the technology would indeed facilitate their processes. This

closed loop of feedback and iteration among process, methodology, people and

technology started on the first day and lasted throughout the project.

Financial services providers spend significant time, money and energy

addressing risk and compliance issues. This provider’s commitment to

collaboration, real-time feedback and agile improvements resulted in a

project that met every initial requirement and exceeded expectations.

CLIENT STORY