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Key Challenges in Risk Management: How Immediate Access to Integrated Information Can Mitigate Risk
How long can a business afford to wait for information about position and exposure risk? That is the question for financial institutions in 2012.
Following the financial crisis and increased regulatory pressure, the market has seen a big turning point in risk management. Market volatility and a recognition that counterparty risk is very real have resulted in risk management systems starting to be viewed as strategic assets. Investments have been focused on enabling a holistic view of risk and providing timely access to information.
An exclusive WatersTechnology survey of senior risk and IT decision-makers in international financial institutions reveals that the majority of firms do not have the capabilities to provide senior management with immediate information about risk, but believe that introducing systems that would allow the firm to know their positions and exposures at any point in time would be beneficial to the business.
Part of the problem is that data is often managed in different systems. Integrating risk systems and ensuring data feeding the systems is of high quality are both essential factors when creating a foundation for real-time risk management. But legacy systems and lack of data consistency often means this is easier said than done.
This complimentary WatersTechnology white paper reveals the findings of this exclusive survey, with an in-depth look at the relationship between data management and risk mitigation.