Inspection Managing Director
11:15 - 12:05 (05/10/2018)
(AUDITORIUM) C.S 6.3. How to use Data Analytics to massively change your Audit approach. The SOCIÉTÉ GÉNÉRALE experience
In the strongly regulated banking environment, the challenge of managing a global audit team used to be: deliver in time, maintain a high level of rigor in the works, and ensure the quality of each report produced.
Still true, but in the present context, this is hardly the tip of the iceberg. Indeed, the risks we audit are changing fast, and constraints we are exposed to are increasing. Cost reduction is not really an option, the regulators’ expectancies keep rising, just finding problems not solutions is outdated, and “old-style auditing” does not attract talents.
At Société Générale we chose to leverage on data science and tech to manage this change of paradigm.We have built a fully operative team of data scientists and IT experts.
Convinced that tech and data are tomorrow’s solutions for most problems, a large majority of our auditors now leverage on these new tools, daily. They are more efficient; their challenge capacities have hiked. They bring more added value to the company and have become game changers.
- Where to start?
- How to set up a team of data experts and create the right interaction with auditors?
- How to bring a thousand people around the globe to acknowledge their job has pivoted radically, that the ability of changing continuously is not an option anymore?
- Are you expanding data skills in your team or willing to?
We’ll share what we learnt from our successes and failures and give a few tips on how to successfully deploy data analytics in a large audit department.