In recent years, notable incidents at global banks, spanning security breaches to fraud, resulted in financial losses and reputational harm. This underscores the importance of robust operational risk management, including effective incident filing and reporting systems.
Banks also face internal challenges related to incident filing. The current process can be complex and time-consuming, leading to frustration and low morale among employees responsible for reporting incidents. There is also a risk that incidents may not be properly reported or addressed, potentially leading to further financial and reputational damage for the bank. To address these challenges and ensure effective incident management, banks must prioritize the design and implementation of a streamlined and user-friendly incident filing process.
First and foremost, the project involved understanding the current process for incident reporting at Credit Suisse, the personnel involved, their roles and expectations. In hopes of figuring this out, a workshop was done with the end users of the current platform and the synthesized data from this workshop was then used to design a brand-new workflow for incident reporting at the bank.
Along with this, the whole platform was reimagined and designed as per the upgraded workflow. With major problem areas identified through the research, further breakdown of the area via various research tool was done, followed by unique solutions for each one of them.
Successful implementation of this project was a massive step towards enhancing the experience for each and every individual in the bank, removing the frustration involved in the stressful process of incident filing, while decreasing immense workload from the department and improving the banks risk profile for the stakeholders.
This project was a lesson in breaking down complicated processes, analyzing problems from various perspectives, interacting with wide range and hierarchy of users, and project management.
