Attunity InFocus provides a uniquely effective and adaptive solution for operational risk management (ORM), helping firms to meet regulatory requirements (such as Basel II), reduce losses, protect reputation, and improve overall corporate control and governance.
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The emergence and challenges of ORM
Risk Management within financial services, as it is understood today, largely emerged as a specific functional discipline during the 1990s, primarily as a result of the increasingly complex trading in OTC derivatives and other financial instruments, as well as some widely publicized financial losses. With the subsequent definition of regulatory initiatives such as the Basel accords, risk management quickly became a key business concern and mandatory requirement in the financial services sector.
Operational risk management represents a uniquely challenging task, requiring firms to identify, track, and manage the multitude of internal and external risks that can affect business performance. The fact that no two organizations are the same, especially when considering their approach and tolerance to risk as well as their mechanisms to manage it, raises the bar in finding an adaptive solution that can accommodate each firm’s specific needs.
Centralized risk management departments are responsible for overall planning, coordination, and monitoring. However, the expertise to identify and manage risks associated with operations is normally distributed within the operational functions of the organization. This results in significant challenges of coordination, focus and collaboration between these functions and any centralized risk management departments.
The Attunity InFocus ORM Solution
Attunity InFocus provides an effective operational risk management solution that is:
- Comprehensive
- Adaptive
- Collaborative
- Rapid
Comprehensive and Adaptive:
A highly flexible software platform for delivering sophisticated coordination-intensive, composite, and workplace-focused applications, Attunity InFocus fulfils all of the requirements for today’s modern ORM teams, including:
- Defining and Communicating Risks - View and manage risk registers; coordinate risk assessment; communicate risks and related controls
- Monitoring KRIs (Key Risk Indicators) - Receive alerts and have seamless visibility of KRIs in real-time; use flexible and rich rules to measure risk indicators based on internal and external information
- Collecting Loss Events - Capture and record loss events; report events by category and sub-categories; create and monitor loss event incidents
- Incident Management - Initiate, track and manage improvement and remediation activities, including loss event incidents, risk assessments, process improvements, and more
Furthermore, with InFocus you can:
- Access any auxiliary information, internal or external
- Manage complex risk-related activities
- Initiate and track action plans
- Audit/Journal all activities
And much more….
Collaborative:
Attunity InFocus goes beyond risk assessment and communications. Effective full lifecycle risk management is primarily about people – how they think and how they interact with one another. Attunity InFocus is unique in the way it facilitates those interactions, and helps focus the organization’s expertise, judgment and skill around resolving risk exposure and minimizing risk losses.
Rapid:
Leveraging service-oriented technology, pre-built building blocks, and rapid configuration tools, Attunity InFocus enables the prototyping of new applications in a matter of days and the roll out of complete solutions within weeks.
Summary
Attunity InFocus offers a powerful solution that can be deployed quickly to provide effective operational risk management, allowing firms to:
- Improve visibility and control
- Lower losses and reduce risk-related capital
- Comply with regulatory requirements (e.g. Basel II)
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