First-Line Risk Assessment

Key Areas

Advisory & Consulting

Staff Augmentation

Project Management

Process Improvement


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Due to the merger of two banks, our client recognized the necessity to revamp and transform their first-line risk department across the newly formed enterprise, while ensuring adherence to the new heightened regulatory standards.

diagram visualizing the flow between Sender, Sender FI, FedNow Service, Receiver FI, and Receiver.


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Heitmeyer provided Advisory & Consulting Support, deploying one full-time resource and one partially-dedicated resource to assist with the following strategic initiatives:

  1. Assessed current state of 1LoD Risk and Control Support
    • Established the 1LoD Risk and Control Working Group
    • Conducted a gap assessment of existing 1LoD Risk roles, responsibilities, governance, and reporting
  2. Designed a target operating model
    • Developed 1LoD roles, responsibilities, governance, and reporting
    • Designed the organizational structure and performed staffing assessment
    • Developed the target operating model based on the results of the gap assessment
    • Created a communication and implementation project plan


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Throughout the strategic partnership, Heitmeyer not only addressed overarching initiatives, but also identified crucial gaps for specialized Risk and Compliance individuals. These individuals were strategically embedded into various business units, serving as interim Subject Matter Experts (SMEs) during the broader effort.

Our comprehensive solution, integrating both advisory and consulting support along with strategic staff augmentation, offered a holistic approach to address the client’s immediate and long-term needs.

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