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When Cambridge & Counties Bank first started speaking to the RiskSmart team, they managed risk exclusively on spreadsheets and documents. Depending on its complexity, logging a risk event could take almost an hour, maybe more. Linking risks and controls and determining the effectiveness of preventative measures was a complex, manual, and sometimes frustrating process.
That’s when RiskSmart came into the picture.
How RiskSmart has helped Cambridge & Counties Bank
We spoke with their Operational Risk Officer, Arran Lake, to learn more about how the CCB's risk, compliance, and leadership teams benefit from RiskSmart.
After almost a year of using the risk and compliance tool, it has given the bank an extra dimension of insight they wanted for their governance, risk, and compliance data, in addition to saving time, determining the effectiveness of controls, and increasing engagement in risk across the business.
