Risk and Capital Compliance Solutions, is the inventor and sole supplier of a world first and comprehensive GRC System - Governance, Risk & Compliance Management and Reporting Platform, known as GRC Constructor. Our software solution is aligned with the international banking regulations underpinned by the Basel Accord – the mandatory global regulations on risk and capital management procedures that over 90% of banks globally must adhere to by law.
ICAAP (Internal Capital Adequacy Assessment Process) is THE critically important regulatory law that Banks / ADIs must comply with and is the key module / component of our GRC Constructor RegTech system - a software application designed to analyse, enhance, manage and report on the compliance and accuracy of all ICAAP procedures and information. This enables credit institutions to understand what is wrong with their ICAAP and provides expert guidance on how to close the compliance gaps - a world first and valuable tool feature that helps ensure 100% compliance.
After guiding and building our clients ICAAP to a Gold Standard, the system will be re-used every year to efficiently and effectively maintain the ICAAP, to automatically produce and store ICAAP reports and to assist Internal Audit in conducting the mandatory Internal Audit review.
GCR Constructor's functionality and features for ICAAP management and reporting are also provided for another key compliance area known as ILAAP (Internal Liquidity Adequacy Assessment Process) - along with most Prudential Banking Standards, utilising the same expert compliance methodology.
The system has proven highly valuable to credit institutions in reducing compliance costs, preventing heavy fines for non-compliance and is designed to reduce the amount of cash that must be held in bank (PCR), thereby allowing more cash to be used to generate higher revenues & profits. THIS CAN REPRESENT MILLIONS IF NOT BILLIONS IN EXTRA REVENUES FOR OUR CLIENTS - NO OTHER REGTECH IN THE WORLD CAN OFFER THIS. The system will help the organization to create a structured plan to close gaps that are found when using the analytical part of the software.
GRC Constructor will produce a detailed Prudential Compliance Report, including ICAAP & ILAAP reports. The systems functionality also allows for the organization and presentation of the associated/supporting documentation within each report presented to the regulator. This process is known as Supervisory Review and Evaluation Process (“SREP").
The system has been developed and has been customized for use in 5 countries (Australia, New Zealand, South Africa, Russia and Saudi Arabia).