Globalance is an independent Swiss private bank that invests assets in a future-oriented manner. With the Globalance Footprint Methodology®, they visualise the impact of money on the economy, society and the environment. As pioneers of sustainable investments, they helped develop the Dow Jones Sustainability Index, among other things.
Initial situation
Globalance Bank faced several operational challenges in dealing with its regular controls and compliance requirements:
- Key controls were managed in Excel lists, which led to inconsistencies and data silos
- Numerous stakeholders were involved, but did not work together centrally, which made coordination difficult
- There was no overview of the current status of the controls
- Carrying out the checks themselves was laborious without clear checklists and standardised processes
- The decentralised way of working at different locations led to different results and quality standards
- The highly regulated banking sector required complete documentation for numerous audits
Solution
The implementation of monday.com Work Management has created a centralised, transparent system for the management of regulatory controls:
- Development of dedicated control boards with clear structuring by department and control type, which centralise all relevant information
- Implementation of a permission-based access system that ensures that each employee sees exactly the information that is relevant to their role
- Development of detailed checklists and standardised workflows to ensure consistency in the implementation of controls
- Setting up dashboards that clearly display the current status of all controls and reflect this upwards to management in real time
- Clear assignment of tasks and controls to responsible persons or teams with tracking function
The customised monday.com solution has not only helped Globalance Bank to meet regulatory requirements more efficiently, but also to minimise operational risks and free up valuable resources for its core business.
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