Santander Bank is a leading finance group in Poland in terms of assets. It offers financial solutions to individuals, micro-, small and medium enterprises as well as Polish and international corporations.
Like all banks, Santander is subject to the BION assessment aimed at identifying the scale and types of risk the bank is faced with, evaluating the quality of risk management, evaluating the size of the capital set aside to cover risks related to the bank’s activities and management.
One aspect of the BION assessment is the sizeable annual self-assessment forms for risk management, sent in by the Polish Financial Supervisory Authority (PFSA).
The self-assessment forms for banks comprise 13 Excel spreadsheets containing a total of more than 600 questions.
These questions pertain to the majority of key areas of bank operations, and so providing reliable final answers requires the involvement and work of a dozen, or even several dozen, personnel.
A major challenge for the person tasked with coordinating the process is thus directing the questions to the relevant divisions, ensuring proper and timely responses are returned, collating these in a final version of the spreadsheet and acquiring approvals from all parties involved. This is necessarily time-consuming and poses difficulties in monitoring progress, which leads to work accumulating until last minute.
For personnel involved in preparing the actual answers the key challenge is submitting for approval the best information possible, before the deadline, ensuring consistency with answers given in the past, and across the entire spreadsheet.
The application and the workflow that come with AdaptiveBION systematized and significantly facilitated the complex self-assessment process and the preparation of the ample data required by the PFSA. With the size of our bank, this cut the time spent on the BION process by 20%, when more than 120 mid- and high-level management are involved in it. The management of internal audit and compliance teams gave top marks to the effectiveness of the self-assessment process as well as the quality of information compiled for the PFSA. What is also worth praising is the style and quality of cooperation with the Supplier during implementation, parametrization and user training. While the bank was performing self-assessment, we could always count on professional assistance from C&F.