Enables a forward-looking approach to managing compliance, risk and performance.
Explore how financial institutions are able to systematically increase the confidence from both their customers and regulators by applying integrated and consistent stress testing techniques and methodologies.
New regulations from the Austrian central bank could provide a blueprint for solving data management challenges within financial institutions around the world. Read more in our latest white paper to find out about how Smart Cubes work and how they could benefit you.
Concerns by U.S. banks and credit unions over heavy regulatory requirements and risk management have increased nearly 30% since January 2013, according to our latest Indicator.
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At the RiskMinds Risk & Regulation Forum 2014, held in Barcelona on Sept 23-25, our experts were on hand to share and discuss thoughts and ideas around risk and regulatory matters.
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OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance—increasing organizational profitability, efficiency and growth.
The crisis has forced firms to take revised look at their internal governance procedures and approach to risk management. Financial institutions are strengthening these processes and are giving them a more strategically important role. However, there is also a growing awareness that these practices in their existing forms were unable to stop significant loss events and failures in the past.
However, there is now not only pressure from regulators and the public for firms to evolve existing practices to avoid repetition of past mistakes, but there is also readiness within firms to adopt fresher, more proactive and dynamic approaches. The new methodology that is becoming increasingly sought after to achieve this change is one that allows for the multidisciplinary management of complex risks and issues to create more strategic support and future-looking views for the business. Examples of this new approach include:
In essence, firms need a framework in place that effectively enables them to govern and manage risk and business performance at all points and intersections across the organization. To truly shift the existing paradigm, a linkage between the previously siloed areas of governance, finance, risk and compliance needs to be established to create a unified ‘GFRC’ strategy.
As a company committed to staying on top of changing market dynamics, Wolters Kluwer Financial Services has stayed ahead of the curve organically, by investing into innovative product development, and acquisitively with the addition of niche providers to its wider portfolio. The result is a portfolio that includes the systems and specialities needed to enable firms to create their own specific GFRC vision a reality.
The solution suite that addresses this - OneSumX - is made up of the following areas: