Many companies are looking for IT solutions that will help them achieve compliance in the areas of auditing, policies, procedures, authentication and authorization.
Given how quickly new risks are piling up there is an urgency to respond to this dilemma by implementing risk management platforms that can sense risk as well as see it clearly. Speaking at SIFMA's Systemic Risk Regulation Summit in June, the evp and head of enterprise-wide market risk at Bank of NY Mellon, Robert Rupp, said the uncertainty around global banks' exposure to Greek debt and other European government bonds reminded him of the early days of the financial crisis when banks and markets were uncertain how they were exposed to each other and the mortgage market. He warned: "You need to see the unseeable."
Seeing the unseeable may be impossible, but risk experts contend it is possible to install technology that can sense when risks are getting out of kilter and empower managers to back away from those risks quickly. This sensing mechanism requires a comprehensive view of risk, linking risk management to long-term strategic business objectives, deploying new risk tools without undue cost and delay, and reacting quickly to the first inklings that risks threaten those business objectives.
Given how quickly new risks are piling up there is an urgency to respond to this dilemma by implementing risk management platforms that can sense risk as well as see it clearly. Speaking at SIFMA's Systemic Risk Regulation Summit in June, the evp and head of enterprise-wide market risk at Bank of NY Mellon, Robert Rupp, said the uncertainty around global banks' exposure to Greek debt and other European government bonds reminded him of the early days of the financial crisis when banks and markets were uncertain how they were exposed to each other and the mortgage market. He warned: "You need to see the unseeable."
Seeing the unseeable may be impossible, but risk experts contend it is possible to install technology that can sense when risks are getting out of kilter and empower managers to back away from those risks quickly. This sensing mechanism requires a comprehensive view of risk, linking risk management to long-term strategic business objectives, deploying new risk tools without undue cost and delay, and reacting quickly to the first inklings that risks threaten those business objectives.
