Automated Regulation Mapping Solution for Silvergate Bank

Problem

The auditing team at Silvergate Bank was manually mapping regulations using Excel, which was time-consuming and prone to errors. The consulting firm IAES was hired to rewrite, revise, and expand the internal audit charter, but they needed a solution to assure complete coverage of all federal reserve requirements for the new charter.

Solution

We developed an evergreen solution that automated the regulation mapping process using an Access database and a Visual Basic application. The solution connected with employees' existing workflow and could be maintained by users without technical expertise. We elicited user requirements from the auditing team and created a format that met their needs while ensuring complete coverage of all federal reserve requirements.

Impact

• Reduced time spent on manual regulation mapping by X%

• Eliminated errors caused by manual mapping

• Improved accuracy and completeness of regulatory compliance

• Increased efficiency in internal audit processes

Team

• Jane Doe - Project Manager

  • Oversaw project timeline and deliverables

  • Liaised with IAES chief audit executive to ensure project success

• John Smith - Software Engineer

  • Built Access database and Visual Basic application for automation of regulation mapping process

  • Elicited user requirements from auditing team to ensure solution met their needs

• Amy Nguyen - UX Designer

  • Designed user-friendly interface for Access database and Visual Basic application

  • Conducted user testing to ensure solution was intuitive and easy to use