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Case Study - Risk Analysis Tool
The Real Estate Council of Alberta (RECA) had a challenge of quantifying risk measures and prioritizing practice review audits for brokerages in industry. RECA’s Practice Review team ensures the financial and regulatory compliance of brokerage activities, by completing comprehensive practice reviews.
ARC Business Solutions successfully implemented a custom Risk Analysis Tool leveraging Microsoft enterprise tools such as Dynamics CRM, SQL Server Reporting Services and Visual Studio within the myRECA program.
ABOUT THE CLIENT
- Founded in 1996, the Real Estate Council of Alberta (RECA) is the governing body for Alberta’s real estate brokerage, mortgage brokerage, property management and condominium management industry.
- RECA is committed to the public interest by promoting the integrity of the industry and protecting consumers.
RECA sets the standards for licensees to ensure they’re competent, ethical, professional, and valuable to consumers
Brokers licensed in Alberta are required to submit their fiscal year end accounting reports using the myRECA system. Brokers are also responsible to work with an accountant to deliver the accountant’s report to RECA, when the brokerage has trust account activities. The purpose of the Risk Analysis Tool is to analyze responses on fiscal year end reports and other key performance indicators to quantify a risk score associated with the brokerage to prioritize the scheduling of practice reviews.
This tool assists the Practice Review team on identifying when a brokerage requires a practice review based on key risk elements using fiscal year-end reports, trust accounts activities and the overall growth of the brokerage’s business operations.
- Design and prototyping
- Detail requirements gathering
- Database design
- User interface design
- Integration into CRM design
- Table creation
- Table trigger creation
- Core functionality – Risk score calculation stored procedure creation
- User Interface form build
- Integration into CRM build
3. Development of Custom SSRS Reports for Trust Assurance
4. Testing and debugging
5. Documentation/Implementation Support
PROJECT DELIVERY METHODOLOGY
One of the essential service management practices with ARC is our Delivery Management Methodology (DMM). DMM is a governance function that oversees all ARC projects from beginning to end, and leverages a defined methodology (standards and best practices) with the objective of completing each and every project successfully (e.g., customer satisfied, on-time, on-budget, high quality, IP created).
The objectives and goals for defining a delivery management practice and methodology is to better enable ARC to:
- Provide a framework for project participants, where roles and responsibilities are clear
- Set and communicate expectations for the team members, which will optimize coordination within the delivery team
- Provide clear expectations and procedures for the team to ensure client understanding and expectations are validated and reviewed up front and any discrepancies are identified before project implementation begins.
- Reinforce the relationship between the business development team and Delivery Manager to ensure realistic expectations are established in the business development phase
- Establish a formalized and applied governance model so that all projects are successful and risks are mitigated