The ability to identify, scope and remediate operational issues that cause harm to your customer has become a key regulatory expectation. This Bank Compliance magazine article focuses on three key areas to help build a best-in-class remediation process:

1. Benefits and limitations of applying the Hub and Spoke Operating Model
2. Leveraging the Capability Maturity Model to develop an optimal blueprint
3. Five best practices for implementing an effective and efficient remediation capability

Jonathan Shiery, a Director in Guidehouse’s Financial Services practice, outlines each of these steps in detail, illustrating the framework for a successful process. Through this comprehensive breakdown, Shiery offers best practices, as well as key takeaways, to be adopted when developing a best-in-class remediation process.