Operational risk management in banks and financial institutions has evolved immeasurably since the global financial crisis in 2008. Many new regulations have been introduced and hefty fines levied for those that contravene them. According to industry analysts, such as McKinsey, the rate of change for the industry is set to continue in the coming years. Trends suggest that successful organizations are those that have a strong risk management culture and that are able to deliver short-term results while preparing for coming changes.
As a result of technology organizations have increased in size and complexity while profit margins are being driven down by new challenger banks with innovative new services. With tight budgets and an increasingly high governance and legislation burden, organizations that foster an enterprise wide, risk aware culture across all operations will be well placed to execute better business decisions.
Sword GRC provides a platform-based approach that encompasses Operational Risk Management, Compliance, Audit, Policy and Quality Management. Financial institutions are able to keep all risk and opportunity information in a central repository, automating and streamlining risk, compliance policy and audit processes.
Clients include:
AON Inc, BACS, CHAPS, CZ Insurance, Provident Financial, Sirius Group, WR Berkely Syndicate Management, AXIS, Bank South Pacific, Liverpool Victoria, Odyssey Re, Police Mutual Assurance Society, Yorkshire Building Society, Barbican Insurance, Faster Payments, World Bank/IEG, UK Payments, and many more.
Sword Operational Risk Manager enables financial services businesses to manage their risk and compliance initiatives more effectively and efficiently, and supports compliance with:
At A Glance:
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