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Operational Risk recognised as the most important risk by financial institutions

Posted on by aldopuch

By: MartketWatch.com

Chartis nominated SAS OpRisk system as the leader in the market for Operational Risk Management. Payman Mestchian, Managing Partner at Chartis says that their research suggests that “operational risk is now recognized as the most important risk by financial institutions. Also the scope of coverage for operational risk management processes and systems is increasing,”. “The SAS capabilities go beyond the traditional oprisk space covering such requirements as model risk, financial crimes, enterprise governance and compliance as part of a unified technology environment and was a key factor in our RiskTech Quadrant analysis.”

Operational risk requirements, cost and complexity pressures are pushing the trend to consolidate into enterprise operational risk platforms, says Chartis. Needing stronger links between operational risk, GRC, financial crime and enterprise risk management and other risk-related activities, buyers increasingly look to advanced analytics. The report highlighted the big data analytics in SAS® Visual Analytics, which addresses the need for varied analytical methodologies.

To read more go to: MarketWatch.com

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