ABN AMRO - ISAE Type II
Summary
ABN AMRO Asset Management manages €30 billion in assets and strives to ensure the security and reliability of its processes and policies. Responding to increasing client demands for enhanced process security, ABN AMRO initiated an ISAE implementation project. While risk management was not new to the organisation, the ISAE framework presented a novel challenge.
Challenge
The primary challenge was the integration of the ISAE framework into an organisation already familiar with risk management but new to this specific standard. ABN AMRO needed to achieve a delicate balance between risk control and the effective execution of control measures, all while fostering operational commitment and staff training.
Solution & Results
To address this, ABN AMRO partnered with Into Control, who managed the implementation from start to finish. Into Control introduced best practices and provided comprehensive training to staff, ensuring a robust commitment to the new processes. The implementation process optimised risk appetite and process control. The Securance Into Control Internal Test Function was established, enabling timely interventions and eliminating redundancies in external auditing.
Results
Despite initial scepticism, the ISAE framework gained broad support within the department, proving the organisation’s control over its processes. Other departments within ABN AMRO have shown interest in adopting the ISAE framework. The successful completion of the ISAE Type II project resulted in a “clean” statement, reinforcing client confidence that their capital is securely managed.
ABN AMRO Asset Management is proud to demonstrate its control over processes, providing clients with the assurance that their investments are in safe hands.
