The Evolution of Enterprise Risk Management
In today's uncertain and highly scrutinized financial services industry, achieving effective risk management is vital for survival. From regulatory burdens to investor expectations to boardroom demands, the need for transparency is greater than ever. Yet an enterprisewide view of risk remains out of reach for many organizations, which continue to face data integration challenges arising from legacy systems, business silos and outdated processes. The companies that can obtain true ERM, however, not only can do a much better job of identifying and reacting to emerging risks, they can improve their decision-making, seize a competitive advantage and generate bottom-line returns. We examine the need for enterprise risk management, the benefits of holistic data management and ERM best practices. (S3691011)
Table of Contents
3 About the Authors
5 Overcoming Data Barriers and Improving Decision-Making
6 The Real-Time Imperative
6 Rethinking Data Management
7 Defining Data Governance: The Influence of Solvency II
9 Driving ERM: Shifting Organizational Responsibilities
10 Navigating the Difficult Road to ERM
13 Quality In, Quality Out: Creating Business Value With Analytics
13 The Answer Is Only as Good as the Question
14 Garbage In, Garbage Out
14 Keep It Simple
15 Banks Making Major Enhancements to Improve Transparency: Survey
17 Four Ways Financial CIOs Can Drive Sharper Enterprise Risk Management
About the Author
Bank Systems & Technology's editorial mission is to provide banking executives involved in technology management -- whether in the IT organization or in line-of-business areas -- with the targeted and timely information and analysis they need to help their organizations reduce risk while improving customer retention, competitiveness and financial performance. Our content spans across multiple media platforms -- including a print publication, digital edition, Web site, e-newsletter, live events, virtual events, webcasts, video, blogs and RSS feeds -- so bank/financial services executives can access information via any channel/platform they prefer. BS&T’s audience comprises the key commercial banking segments, ranging from global banks to community banks and credit unions, covering both retail and wholesale banking. Key ongoing areas of focus include core systems, payments and cards, channel optimization, regulation/compliance, risk management, security, customer insight/business intelligence and architecture/infrastructure.
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