Navigating the New Normal with Enhanced Enterprise Risk Management (ERM)

The onset of the COVID-19 pandemic and the unprecedented impact on everything that we considered normal was unimaginable. Today’s environment is one not only of heightened risk, but of prolonged uncertainty. The pandemic has not only disrupted everything that was once considered normal but is also forcing us to navigate through the recovery period and further build a new normal in the post-crisis world. Leaders will need to examine the depth, strength and resilience of current operations and future plans within the context of Enterprise Risk Management (ERM) to enable processes to thrive under new, unforeseen challenges.

RPA Solutions and Services for Care Delivery Organizations

Care delivery organizations are faced with unprecedented challenges to meet care delivery
demand. Tactically, streamlined and efficient operations can bring 30%-40% savings using
available automation solutions. Strategically, there is an increasing demand for care delivery
services. These increases are being driven by population increases, expanded insurance
coverage and the expected increases in the aging population. Additionally, there is shortage of
qualified care delivery professionals. Automation is a necessity to address today’s issues and to
provide adequate medical care to a growing population.

Leading Transformation Through a Period of Uncertainty and Crisis

The current banking crisis primarily impacts financial and technology sectors and is still evolving, as evidenced by the impact of Credit Suisse on bank stocks and stock markets globally. The overriding driver is trust in the banking system – by both individuals and businesses. This theme of trust was also relevant in the Great Recession of 2008, but times were different back then. There is little evidence that a comparable meltdown is imminent, but there will clearly be important structural changes in the banking market.
Most of the Fortune 1000 and many private companies have now fully embraced some kind of transformation and or innovation agenda within their business strategies. These investments often go beyond enhancement to products and services to include cultural changes such as the adoption of agile business processes. Just as Covid-19 inspired investments in new approaches to business operations, the current banking crisis and its concomitant uncertainty require resilient and flexible business transformation strategies.

Secure By Design

The complexity, variety, speed and profoundly negative impact of traditional and especially emerging cybersecurity threats forces organizations to adopt new defensive and preventive approaches, both at the infrastructure and at the application and data design levels.

Traditional cybersecurity concerns have drastically evolved and today address not just enterprise perimeter, network and platform security, but newer designs of containers and microservices, newer environments such as big data platforms and cloud, managing identities of new user types – people and devices – that emerged as a part of Internet of Things (IoT) ecosystem. Seemingly endless and very impactful regulatory changes not only elevate privacy concerns to the new heights but provide a strong motivation to merge privacy and security into one large, complex and trustworthy domain.

This white paper discusses these profound changes in cybersecurity defenses and threats, and describes a new approach to cybersecurity – Secure-by-Design – where cybersecurity is everybody’s responsibility. Secure-by-design principles state that cybersecurity is designed into systems, devices, platforms etc. from the inception, from defining business and technical requirements onto every step of the development and operational lifecycle.

Third-Party Risk Management

TPG Consulting performed a Third-Party Risk Assessment evaluating operational risk from its vendor network. The review provided insights into existing strengths and areas for improvement.

Digital Transformation and the COVID 19 Pandemic

Companies, governments and individuals around the world today are fixated on the COVID-19 pandemic and its aftermath. We all need to restore the global and national economies as we continue to protect the health of citizens. Some companies are laser-focused on averting failure and bankruptcy; others are looking ahead to and planning for the post-COVID ‘new normal.’ Individuals are trying to understand how to balance their health, social and economic well-being.

Mixing it Up — Banks and Bitcoin

The traditional banking industry is rapidly evolving based upon advances by Fintechs focused on the cryptocurrency space. These changes may prove to be far reaching. Here is an article by a TPG associate that sheds light on the shifting tectonic plates which support the banking world.

Vendor Rebate Negotiation

TPG Consulting led the analysis and assisted in negotiation between a significant supplier and a large retailer. The project showcased a successful outcome built on meticulous analysis, transparent communication, and a balanced approach to value creation.

Technical Software Assessment

TPG Consulting performed a Technical Software Assessment which revealed significant gaps in the current system’s design and operation, as well as opportunities to enhance stability and scalability. Assessment included identification of (1) Infrastructure Risks of system reliance on a single database server instance for workloads, (2) Operational gaps of lacking monitoring and performance analytics impedes proactive system management. (3) Technical constraints of the current development team heavily focused on the Microsoft stack with limited architectural flexibility, (4) Inefficient data processes related to ingestion pipelines requiring full reloads due to the lack of delta processing capabilities.

Finance Transformation

The Finance Transformation Assessment highlighted critical gaps and opportunities for improvement within the finance function, driving the need for immediate and strategic intervention.

Banking Regulatory Review

TPG Consulting performed banking regulatory assessment that evaluated resilience and operational risk management, focusing on alignment with the BIS Principles for Operational Resilience. The review provided insights into existing strengths and areas for improvement.

Banking Core Transformation Office

TPG Consulting lead banking transformation project centered on establishing a robust Transformation Office to support the implementation of a new banking core and foster a culture of innovation and agility. Outcomes of the Transformation Project included (1) Establishing Strategic Leadership and Governance, (2) Created a Future-State Operating Model, (3) Created an Agile and Product-Centric Framework and other ways to work. (4) Enhanced Business Process and Risk Management via business product ownership. (5) Capability Building for Agile and change management. (6) Operational Efficiencies and Reporting by implementing Azure DevOps to manage delivery timelines, track progress, and support governance reporting.