1 Customer
- A Regional U.S. Bank
2 Business Situation
- Unable to meet the required quality threshold set by ‘Credit Risk Review’ (CRR) teams
- Significant Category – 98%
- Moderate Category – 90%
- Minor Category – 75%
- Core underwriting team utilized for regular underwriting review to meet the thresholds
- Inability to perform quality audits of underwriting functions before final CRR audit
3 Solutioning
- Identified gaps in existing process documentation and created a plan for enhancing the existing documentation
- Identified the need to provide actionable analytics from the QC’s completed by SLK
- Engaged with the CRR team to understand objective of the audits
4 Execution
- Prepared an audit checklist
- Rigorous process trainings conducted for the team
- Standard Operating Procedures and process maps created
- Weekly and monthly analysis on the audits performed and actionable insights shared with the customers underwriting team
5 Value Delivered
Enabled the Bank in meeting investor guidelines requirements and improving loan salability
- No errors reported in the ‘Significant Category’ by bank’s third line of defense (CRR Reviews)
- Adhered to error threshold set by CRR team for Moderate & Minor error categories
Eliminate recurrence of errors
- Weekly analysis shared with business unit to take appropriate preventive measures
