Commerzbank AG: Investing in Agility and Creating “Digilog”

Detlef Thomann, head of group audit at Commerzbank, says agile knowledge is important for everyone in the company. He points to several initiatives of strategic relevance designed to reduce costs by over $1 billion and help position Commerzbank for the post-pandemic future. Most of those initiatives, Thomann says, “are in an agile mode.” He adds, “Group Audit is accompanying these strategic initiatives from an audit point of view to keep the momentum. We provide the board with unbiased insights on the progress that the bank is making toward achieving its objectives.”

In this profile, Thomann describes his team’s continuous auditing approach to constantly assess risks based on standardized auditing activities.