Data and technology focused assurance
for financial services firms

A Selection of Client Stories

REVENUE ASSURANCE

3rd party revenue integrity - scales of justice

Recalculate referral payments to check 3rd party revenue integrity (completeness, accuracy)

 

Not sample based (full data population used)

The brief
  • Partnership agreements with revenue earned for successful referrals

  • How accurate and complete are the referral revenue calculations and payments?

  • Is the firm earning what it should from referrals?

 

The work included
  • Evaluating relevant data - for 12 months, full population

  • Recalculating referral revenue (expected)

  • Identifying potential leakage

  • Finding opportunities to enhance controls (incl. data quality) to minimise leakage

 

Outcomes
  • Assurance over revenue integrity

  • System / process issues identified

  • Remediation activities for control weaknesses:

    • Incorrect commission rates for certain accounts

    • Invalid application of discounts

    • Data quality improvements for better automated matching

 

A related article - if you have 3rd parties that deal directly with your customers

 

DEPOSITS - KEEPING PROMISES

Deposit accounts - accuracy

Recalculating deposit account balances to provide assurance that bank-initiated transactions are complete and accurate. 

 

Not sample based (full data population used)

The brief
  • Are we keeping our promises and treating customers fairly?

  • Are deposit account calculations correct?

  • Are we overpaying or underpaying our customers?

 

The work included
  • Evaluating relevant data - for 12+ months

  • Recalculating all bank-initiated transactions (i.e. interest and fees)

  • Custom analytics techniques to deal with poor quality data

 

Outcomes
  • Assurance regarding completeness & accuracy - at individual account level

  • System / process issues identified

  • Remediation activities for control weaknesses:

    • Overpayments and underpayments

    • Preferential rates offered to ineligible customers

    • Inaccurate rollover parameters (for longer term deposits)

    • Incorrect manual adjustments (e.g. penalties that are too low / too high)