Process Mining and audit support within financial services. KPMG IT Advisory 18 June 2014

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1 Process Mining and audit support within financial services KPMG IT Advisory 18 June 2014

2 Agenda INTRODUCTION APPROACH 3 CASE STUDIES LEASONS LEARNED 1

3 APPROACH

4 Process Mining Approach Five step program 1 Select relevant process 2 Download and analysis of available data 3 First analyses of the results 4 Evaluate with customer 5 Reporting of Findings 3

5 Process Mining Benefits of process mining in auditing Benefits auditor Fact based Application controls Risk identification Focus on deviations Visual representation 4

6 Process Mining Benefits of process mining in auditing Benefits auditee More efficient audit Fewer resources Actual process Risk identification Insight in deviations 5

7 CASE STUDIES

8 Leasing COMPARING SYSTEM IMPLEMENTATIONS Case description Challenges New system implementation Rules and regulations Process harmonization Shared back office Organizational setup 7

9 Leasing COMPARING SYSTEM IMPLEMENTATIONS Results Management gained important insights - Effectiveness of processes - Controls implemented - System configuration - Process deviations 8

10 Leasing CONTROL TESTING Case description Challenges Financial Statement Audit Additional insight required Different systems Degree of automation Access rights 9

11 Leasing CONTROL TESTING Results Important insights were gained - Actual processes - Deviations - Four eye principle guaranteed 10

12 Mortgages PROCESS INSIGHTS Case description Challenges Financial Services client Additional insight required Process outsourced Technical logging Incomplete logging 11

13 Mortgages PROCESS INSIGHTS Results Audit gained important insights - Process flow - Process deviations - Quality of control execution 12

14 Lessons learned

15 Process Mining Lessons learned Timely data collection Select relevant process Download and analysis of available data First analyses of the results 4 Evaluate with customer Data quality 5 Reporting of Findings 14

available data First analyses of the results 4

16 Process Mining Lessons learned First analyses Detail of process flows Interface between MOsystem and DWH Select relevant process Download and analysis of available data First analyses of the results Evaluate with customer Reporting of Findings Process Insight for financial auditors Segregation of duties Control quality 15

available data First analyses of the results Evaluate with customer Reporting of

17 Process Mining Lessons learned Evaluation Interpretation Data fields System understanding Technical process flow Select relevant process Download and analysis of available data First analyses of the results Evaluate with customer Reporting of Findings 16

Select relevant process Download and analysis of available data

18 Contact information

19 Contact information Erik Davelaar KPMG Advisory Risk Consulting / Financial Services Laan van Langerhuize DS Amstelveen The Netherlands Mobile +31 (0) Phone +31 (0) [email protected] LinkedIn linkedin.com/in/erikdavelaar 18

Netherlands Mobile +31 (0)6 213 93194 Phone +31 (0)20 656 8692

20 2014 KPMG Advisory N.V., registered with the trade register in the Netherlands under number , is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The name KPMG, logo and 'cutting through complexity' are registered trademarks of KPMG International. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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