Case Study

Disputes Management: Controls and Execution

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The Challenge

Our client lacked controls and monitoring to ensure consumer reporting dispute cases were processed compliantly, as identified by regulatory findings.

The Solution

A comprehensive future state design for a best-in-class dispute processing control structure providing clear-cut approach for continuous and effective monitoring.

The Benefit

  • Client received 31 defined controls specific to deposits to ensure adherence to regulatory guidance.
  • Client now has seamless implementation of control-related initiatives due to roles and expectations matrix, covering 11 areas with cross functional roles.
  • Internal QA teams were equipped to begin immediate monitoring of critical controls to validate compliant processing.

The client, a large deposit bank, needed to establish a control framework to ensure that consumer reporting dispute processing adhered to regulatory guidance.

The client reengaged us based on our previous control recommendations. We conducted extensive interviews and side-by-side monitoring with impacted areas. We performed an end-to-end analysis of processing to assess alignment with regulatory obligations. As part of the assessment, we reviewed 30 procedures and identified 17 procedural gaps and 9 controls requiring additional development.

Bridgeforce developed a comprehensive control framework for execution. We created and established key controls, ownership, processes and documentation to support control monitoring at all stages of dispute processing.

The control framework addressed immediate controls required to ensure compliance and recognized future controls necessary to enhance management of Key Risk Indicators.