TeamMate+ implementation at a Dutch bank

This client experience is about a Dutch bank that provides a comprehensive range of financial products and services to clients worldwide and that places significant emphasis on maintaining robust internal controls and risk management frameworks to ensure the integrity and reliability of its operations. As such regular audits are a critical component of its governance structure, designed to assess the effectiveness of its financial reporting, compliance with regulatory requirements, and operational efficiency. Their internal audit department operates independently, providing objective evaluations and recommendations to enhance its processes and control environment. The insights gained from these audits help to identify potential risks and implement corrective actions proactively.

The selection of and implementation of TeamMate+ was driven by the end of life of their old Audit Management System, necessitating the exploration of a new more modern audit management system. After thorough research, a good fit was found with TeamMate+ and its features, which aligned well with their operational needs and strategic goals. As part of the RFP process, they engaged in detailed demos and interactions with BR1GHT and Wolters Kluwer TeamMate, evaluating TeamMate’s capabilities and implementation support structure. These interactions highlighted TeamMate+’s robust functionality and abilities to suitability meet the requirements.

The collaborative efforts during the demo phase ensured that all stakeholders were confident in the transition. Consequently, The Dutch bank decided to adopt TeamMate+ to enhance their audit management processes. This client experience is about our support and added value delivered during the selection and implementation process to get TeamMate+ live.

After the RFP process we have put specific effort in the project planning, onboarding and kick-off of this project. Together with the project team, we made a significant impact through robust project planning and enabling of the project team to embrace a true collaborative approach. This initial phase established a clear vision and well-defined objectives. The detailed planning and structure ensured that all team members were aligned and well-prepared, laying a strong foundation for the project’s success.

Engaging and interactive workshop cadence throughout the project

Engaging and interactive workshops facilitated by BR1GHT were crucial in adopting the new way of working within TeamMate+. These workshops were not only educational but also inspiring for the project team, as they facilitated hands-on learning and active participation. By tailoring the workshops to fit the specific needs of the team, BR1GHT ensured that the optimal setup of TeamMate+ was achieved, fostering enthusiasm and a deeper understanding of the system.

Redefining internal audit risk assessment enabled by TeamMate’s features

The project team redefined and elevated the Internal Audit Risk Assessment approach, which significantly streamlined the audit selection process and assessing of the relevant risks. By rethinking the methodology and leveraging the features of TeamMate+, it improved the accuracy and efficiency of risk assessments. This redefined approach allowed for better prioritization and resource allocation, enhancing the overall effectiveness of the internal audit function.

Building a strong structure for audit execution

During the implementation, the project team and BR1GHT focused on building a robust structure for audit execution utilizing the available TeamMate+ features. This involved optimizing the use of the platform to align with their specific audit processes and requirements. The result was a well-organized audit execution framework that supports the consistency and quality of audits to be conducted.

Emphasis on audit findings and collaborative business owner follow-up

Explicit emphasis was put on managing audit findings and ensuring effective follow-up collaboration with business owners. By utilizing TeamMate+’s finding tracking mechanism and digital enabled features that facilitate management interactions, it is ensured that audit findings were addressed promptly and efficiently. This approach fostered greater accountability and transparency, strengthening the relationship between auditors and business units.

End-user Training Facilitation

The project team, with BR1GHT’s guidance, dedicated specific attention to facilitating and supporting end-user training. The core project members led comprehensive training sessions, ensuring that all users were proficient in using TeamMate+. This focus on training enabled a smooth transition to the new system, maximizing user adoption and the overall effectiveness of TeamMate+ in enhancing the audit processes of the Dutch bank.

After go-live, the entire organization is now adopting TeamMate+, bringing new experiences and valuable feedback to the table. As BR1GHT, we remain in close contact with the TeamMate Champions and internal audit team of the Dutch bank to enable continuous improvement. We actively collaborate with them, considering their insights and exploring new possibilities to enhance the system’s effectiveness. Our ongoing relationship help address any emerging challenges and optimize the use of TeamMate+ across the organization. Together, we aim to drive innovation and maintain high standards in their audit processes.