Enterprise Risk Management
Measure, Monitor, and Manage Risk Exposure
In recent years, external factors have fuelled a heightened interest in Enterprise Risk Management. Industry and government regulatory bodies, as well as investors, have begun to scrutinise companies' risk-management policies and procedures. The Committee of Sponsoring Organizations (COSO) organises risk into four general groups: strategic, operational, reporting, and compliance.
Unfortunately, compliance management is often handled outside the traditional risk management process in the financial services industry. The likely results are redundancy, overlap and an increased burden on the business, in addition to potential non-compliance with critical regulatory requirements. This leads to a fragmented approach that separates the management of compliance risk from management of other risks.
Why Integrate Compliance, Operational & Financial Risk Management
- Reduce the cost of compliance by streamlining the compliance process
- Leverage existing activities (compliance, SOX and RCSA, etc.) in the operational risk management process
- Realize the benefits of Operational Risk Management
- Improve ROI on all risk management expenditures
- Further increase ROI through the use of risk technology
- Reduce reputational risk and fines by creating early detection of actual/potential operational and financial failures
- Enhance identification of systemic problems and prioritisation of remediation plans through central control
- Increase compliance and risk management transparency across the enterprise and to external stakeholders
- Enhance decision support
ARC Logics®, formerly known as Sword, is an enterprise risk management tool for the financial services industry. Its modular components measure, monitor and manage compliance, financial and operational risk, as well as audit.
This unique tool combines regulatory intelligence and actionable financial services intelligence with efficient policy, procedure and process management for transparency and control. It empowers risk management professionals to make smart decisions with confidence in a rapidly changing environment. With it, you can;
- Implement effective policies, procedures and risk limits
- Conduct testing to monitor compliance and measure risk
- Quantify capital-centered risks
- Evaluate and track risks across sectors, product lines, and locations
- Provide transparency into risk to senior management and board members
