You are the Head of Credit Risk of PQRZ Bank. You recently attended a conference, where you have learned that a few banks have exited ABC Company, due to lacklustre performance and rumours of internal problems. To your discomfort, you find that there is no reduction in facilities in your bank; on the other hand, there was an increase in the recent past. The relationship team reports that although there are concerns, the company has taken the right steps to rectify the situation, which has been highlighted in the recent annual review.

However, within a few months ABC Company applies for bankruptcy resulting in credit losses. You feel that the credit risk monitoring is inadequate. What steps would you suggest to improve the credit monitoring within the bank?