Global firms face increased pressure to address potential risks
Competitive advantage is achieved through a strategic and consistent risk, compliance and security management program, says BearingPoint
LONDON – A recent survey of chief information officers by IDG Research Services has found that almost 40% of firms are spending more time on risk, compliance and security-related activities than they did a year ago. More than 40% say their greatest challenge in this area is prioritising and measuring potential risks.
The survey, commissioned by software provider and consultancy firm BearingPoint, found the next greatest challenge for firms is to define a risk, compliance and security strategy. Taking the findings into account, BearingPoint has rolled out its first global and cross-industry software portfolio. The BearingPoint Risk, Compliance and Security (RCS) Solution Suite aims to help clients become “risk-sensitive enterprises” by working with them to detect and manage potential threats before they affect their business.
The introduction of a cross-industry portfolio is a new approach for BearingPoint. The RCS Solution Suite will enable it to deliver its integrated portfolio of services more rapidly to a global audience, with the additional flexibility to tailor its services to address the needs of each individual client. It features risk services that span specialty risk solutions for specific business areas, including credit, operational and market risk, and broad regulatory program that help clients comply with risk management regulations. It also offers compliance solutions that address financial and accounting regulations, privacy and contracting processes, and customer compliance. Security services include information security and identity management, leveraging technologies such as radio frequency identification, and biometrics.
“By developing, selling and delivering an integrated risk, compliance and security portfolio, we can leverage the full breadth and depth of our capabilities to better serve all our clients – regardless of their industry or location across the world,” says JR Reagan, managing director at BearingPoint and global solution leader for risk, compliance and security. “This approach strengthens our competitive position and allows us to invest in our best ideas and biggest opportunities, and to scale them more broadly.”
Even the most conservative organisations face security threats, financial risk, operational challenges, regulatory hurdles and compliance issues. Rather than viewing this as a threat, BearingPoint believes that a strategic and consistent risk, compliance and security management program can give companies a sustainable competitive advantage over those that fail to effectively manage risk.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Risk management
FICC takes flak over Treasury clearing proposal
Latest plans would still allow members to bundle clearing and execution – and would fail to boost clearing capacity, critics say
Buy side would welcome more guidance on managing margin calls
FSB report calls for regulators to review existing standards for non-bank liquidity management
Japanese megabanks shun internal models as FRTB bites
Isda AGM: All in-scope banks opt for standardised approach to market risk; Nomura eyes IMA in 2025
Benchmark switch leaves hedging headache for Philippine banks
If interest rates are cut before new benchmark docs are ready, banks face possible NII squeeze
Op risk data: Tech glitch gives customers unlimited funds
Also: Payback for slow Paycheck Protection payouts; SEC hits out at AI washing. Data by ORX News
The American way: a stress-test substitute for Basel’s IRRBB?
Bankers divided over new CCAR scenario designed to bridge supervisory gap exposed by SVB failure
Industry warns CFTC against rushing to regulate AI for trading
Vote on workplan pulled amid calls to avoid duplicating rules from other regulatory agencies
Top 10 op risks: change brings challenges
Higher interest margins and a trend toward insourcing drive major tech projects