Risk is an ever-present force in our industry. The race to provide all services and products through digital platforms increases your exposure to risk. Managing risk, rather than eradicating it, is the only way you can run a profitable enterprise of any scale.
At Bridgeforce, financial services risk management is our core competency—our decades of experience span all risk disciplines—from bolstering operational risk management at the 1st line of defense to swiftly processing complaints at the 2nd line of defense; then building workflows for transparency at the 3rd line of defense.
We understand risk drivers and how consequences can blindside your business. With more than 900 client engagements, we also know that risk management varies—it’s not one-size-fits-all. While in many areas (data security, regulatory, reputational) the risk appetite should be zero, in others (credit, operational, fraud), it should be some. We show our clients practical ways to manage risk: where to create the controls to eradicate certain risks and where to develop strategies to manage others.
Bridgeforce identifies and implements process automation to achieve estimated $1.15 million in fraud recovery. The Challenge The client, a top-20 bank, was struggling to keep up with fraud and dispute volumes...
We’ve designed and implemented hundreds of frameworks to identify and manage risk for all types of lenders from top 10 banks to global lenders and credit unions. Our experience spans enterprise-level risk management, specific business unit tolerances, escalation triggers for management intervention, monitoring routines and remediation.
Staying ahead of increasingly sophisticated fraudsters is a key challenge facing financial institutions today. Bridgeforce’s fraud experts complete comprehensive current state assessments on fraud operations. Our results focus on strengthening fraud prevention and detection controls while maintaining sales volumes with a frictionless customer experience.
Strong governance and management routines are essential to the safety and soundness of any organization. Done incorrectly, they can create a drag on senior leaders’ limited time and delay progress by slowing down much needed approvals. Our clients strike the right balance between effectiveness and efficiency from our streamlined governance frameworks that support agile decision-making without compromising controls.
Outsourcing core services to specialist third party providers can be highly effective and cost-efficient, but it also creates operational and reputational risk. Having successfully selected and managed scores of partners for clients, we built a vendor management toolkit (from RFP creation to onboarding and management) that administers critical dependencies on external suppliers. Our robust control framework can efficiently be incorporated into your oversight and governance routines.
In today’s fast-moving operating landscape, data is critical but information overload is an ever-present danger. Our extensive risk and operations management experience helps clients focus on the key metrics you need to identify risks and operational hotspots. Once identified, we design routines to ensure that senior leaders get only the information they need to be confident and make informed decisions.
Discover how recent CFPB initiatives and evolving market trends impact auto financing and how proactive measures can help auto lenders mitigate risks and build trust with regulators and consumers. CFPB’s...
February 2024 RMAI Annual Conference | February 5-8 Michelle Macartney shared insights with leaders in the receivables industry while at the conference in Las Vegas. March 2024 CBA...
Today, you can’t count on vendors to manage compliance for your customers. You must do it. All lenders need a robust vendor management program to protect consumer interests and maintain...