Solutions for BFSI Sector
Our Solutions
- Enterprise Risk Management (ERM) is an organization-wide approach to identify, assess, communicate, and manage risk in a cost-effective manner
- Our ERM framework and methodology is consistent with COSO and designed to coordinate risk management in a practical way, leveraging existing risk management activities
- Key elements in our ERM framework – Risk Governance, Risk Assessment, Risk Quantification and Aggregation, Risk Monitoring and Reporting, Risk and Control Optimization
- Model Business Processes (MBP) help in defining / strengthening organizational processes – planning, operations, support
- Standard Operating Procedure – documentation and alignment of processes where existing processes are somewhat defined
- Business Process Redesign – Rethinking existing processes and suggesting a change
- Business Process Architecture – Creating/designing processes where nothing exists
- An information technology audit, or information systems audit, is an examination of the controls within an Information technology infrastructure to evaluate the control design and effectiveness.
- Vulnerability Assessment / Penetration Testing (VA/PT): This includes security audit of web applications / websites to ensure that they are free from vulnerabilities prescribed in OWASP top 10 criteria.
- Compliance Audits based on guidelines issued by the central bank and insurance regulators
- Help organizations to identify and manage risks within specific processes
- The methodology is aimed at identifying ways of improving process effectiveness and efficiency
- Extensive reviews of existing processes to identify control gaps and quantify exceptions where possible
- Risk and controls review can be conducted for specific areas of Management concern, areas outside the scope of traditional Internal Audit, processes prone to fraud risk, processes with high transaction volume etc
- Our Internal Audit Methodology (IAM) is a risk-based approach. IAM has been developed for consistent execution in every internal audit practice a.
- Our IA approach has the following key steps:
- Risk Assessment and Planning
- Audit execution
- Reporting
- Many organizations face concerns around regulatory compliance – is it effective, is the organization capturing all required data, is the data accurate, are there improvement opportunities etc
- NMAH’s compliance review focuses on reviewing the current processes and identifying improvement areas, recommending additional regulations and provisions to be incorporated and supporting the implementation
- Help organizations to identify and manage risks within specific processes
- The methodology is aimed at identifying ways of improving process effectiveness and efficiency.
- Extensive reviews of existing processes to identify control gaps and quantify exceptions where possible
- Risk and controls review can be conducted for specific areas of Management concern, areas outside the scope of traditional Internal Audit, processes prone to fraud risk, processes with high transaction volume etc
- Enables revenue risks to be identified and addressed, and revenue enhancement opportunities to be identified throughout the revenue process
- Develop processes and controls of the entire gamut of operations within the revenue assurance function
- Provides overall monitoring to determine that process performance is measured and accurately reported
- Leverages our capability in data analytics to analyze vast streams of data and identify past and potential leakage
