Cidel Bank Takes No Risks with Our Bespoke Smartsheet Solution

Cidel is a Canadian private bank and asset manager which helps high net worth individuals and institutions protect and grow their wealth.

The Challenge

As a private finance company, compliance requirements at Cidel are very stringent. Risk and compliance measures are closely tracked and reviewed annually. 

In order to manage these efficiently, individual employees are assigned ownership of particular risks. It is their responsibility to track these, to make sure each risk has been reviewed and rated and complies to the relevant regulations.  

The challenge was to manage how these risks are assigned, and make sure each employee has access to the relevant regulations pertaining to that risk. With hundreds of risks and regulations to keep track of, Cidel needed a transparent, robust system to ensure the correct risk is assigned to the correct employee with all the relevant information available to them. 

In addition to this, each risk owner needed to be able to delegate their assigned risk. The system needed to let them grant risk assessment permissions to other employees when required.

Our solution 

We created a bespoke system from the ground up. We adapted out Smarter Dashboard Solution to create a website that enables any Cidel user to log in via Smartsheet and view any risks assigned to them. They can then examine all the information that’s relevant to that risk, assign the level of risk, and even specify what controls are in place to mitigate against it. 

The product has the capability to handle hundreds of employee logins, either as the risk owner or if the risk has been delegated to them. As a cloud based system it has the advantage of allowing the team access whenever they need it, and the efficiency of information updating in real time. 

We worked closely with the client and adapted the solution to fit their requirements as part of an ongoing development process.

The Benefits

  • A coherent, flexible system that tailors the relevant information to each individual log in.
  • Intuitive and accessible. Minimal training required to use.
  • Unique. This one of a kind solution is designed to fit the client’s specific requirements.
  • Comprehensive. The system stores and tracks hundred of risks, making each one instantly available when needed.