The,Evolution,Risk,Management, business, insurance The Evolution of Risk Management
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As theoutcomes of recently passed legislation regulating the financial servicesindustry emerge amidst continued turbulence in the global economy,organisations must ensure they can respond quickly to market and credit risks,as well as new regulatory guidance. To meet these requirements, financialservices organisations must manage risk efficiently via reduced operationalcosts as well as introduce greater transparency in order to satisfy theregulators.Investmentin operational risk management tools is crucial for organisations looking toreduce operational costs and assure investors and regulators that theirinfrastructure is stable and secure.Although the industry is recovering from the financial crisis,forward-thinking COOs know that investing in operational risk management willbuild a stronger long-term foundation. Focusing on short-term cost-savings anddiverting the budget allocation for operational risk elsewhere could haveserious implications for the organization in the longer term. Transparencyis one of the most influential drivers in todays risk management space and thedemand for products that enable organisations to provide the data thatregulators and investors require is growing fast. This is because financialservices organisations are under severe pressure to create operationalefficiencies and tighten up their risk management procedures. Overall,risk management is now a must-have, not just a nice-to-have. One of thelegacies of the financial crisis is that organisations need risk management systems and processes that arecapable of delivering stability and security in the new world. There is anenhanced need to proactively report to investors who are now taking an interestin their portfolios - something they might not have thought about doing eventhree years ago. As the rules of the industrycontinue to change, risk management remains a pressing concern. The need to re-evaluate risk managementis as apparent now as it was in the pre-dot-com bubble bull market of the 1990s.http://www.sophis.comCross Asset Front-to-Back Portfolio and Risk Management Solutions forFinancial ServicesOur clients include over 130 financial institutions worldwide.
The,Evolution,Risk,Management,