FRSGlobal

Chief Risk Officer / VP of Risk / Risk Executives

As a CRO or VP of Risk in a financial services firm, the situational context for your position has never been more challenging. Today, you are expected to proactively understand and manage all risks across your enterprise and to understand the intersection of those risks with desired business strategies and initiatives. Your primary role is likely viewed as implementing and ensuring the continuity of risk management controls throughout the organisation, managing an “early warning system” based on tracking of leading indicators, and providing timely reporting to management, regulators, and other stakeholders. Assessing risk exposure against the risk appetite of your firm across multiple lines of business and markets served is particularly difficult, but important to ensure that the business proactively understands its positions and possible exposures. Getting on top of enterprise risks and communicating with executive management and your Board is a top priority. Being proactive is a prerequisite to avoiding burdensome regulatory oversight and enforcement actions.

Key Challenges

As financial firms are pressured for higher performance, regulators increase their oversight, and the need for both a more comprehensive as well as a deeper understanding of risks takes precedence over other activities, you may be experiencing some or all of these typical challenges:

• ensuring the quality and integrity of financial control systems, with the need to drill down into supporting data when required for ad hoc reporting and deeper insight
• building a complete view of risk and reporting across your enterprise
• supporting informed decisions on risk-related business opportunities
• providing support for cutting edge capital and liquidity planning tools and practices
• acquiring a single set of data on a timely basis that feeds risk, regulatory, and financial systems and ensures information integrity
• supporting the implementation and maintenance of effective control systems
• achieving high confidence in your financial and regulatory reporting processes and outcomes.

How We Help

Wolters Kluwer/FRSGlobal recognizes the unique challenges of the CRO and VP of Risk. Our solutions are designed and proven enterprise systems, with over 15,000 customers worldwide. Specifically, we can help through all of these key elements of our product and service offerings:

• global expertise in compliance, risk management, and regulatory reporting to supplement the expertise of your staff
• complete enterprise-wide views on risk and reporting data to support executive dashboard monitoring and drill-down when required
• providing and managing a single, reconciled and cleansed data warehouse (“single view of the truth”) to enable effective and efficient regulatory, risk, financial, and MIS reporting
• practical approach to enterprise risk management with the ability to address modular aspects of risk (e.g. financial risk and operational risk), as well as a holistic approach to ERM
• the ability to analyse and forecast your capital needs with support for risk-based scenarios to support potential business decisions
• support for timely and quality reporting to all regulatory bodies where you do business with full transparency and traceability of report content and data
• tools to support ad hoc reporting and analyses to support queries from multiple stakeholders
• staff training, education, and certification to ensure your firm is effective in the markets served and meets regulatory thresholds
• the ability to tap into our base of over 400 regulatory, risk, and compliance experts for best practices and practical guidance and advice
• the assurance that we can support you in understanding risks across your enterprise, and surfacing potential issues through use of leading indicators
• deliver and deploy proven enterprise systems based on industry standard technologies to reduce your operational and financial risks and enhance the productivity of your staff.

Next Steps

For more information, check out the Solutions section, or contact us for more information.