Spotlight On...
Contact: StratexSystems Blackfriars Foundry 154-156 Blackfriars Road, London, SE1 8EN
Web:
www.stratexsystems.com Tel: +44 (0)20 7953 7292
on data capture and lack of emphasis (or time) on reporting, analytics and the generation of decision-making insight reinforces the view that risk management is a layer of bureaucracy which adds little or no business value. All of these limitations converge to discourage business engagement in the operational risk
management
process, meaning that the operational risk management agenda is not aligned to the business strategy and certainly does not support the execution of the business strategy. Perhaps, however, the most important impact of inflexible, rigorous, traditional operational risk management tools is that they do not support the emergence of an organisational risk
culture that embeds
management into day-to-day decision-making. Additionally, few things kill a ‘risk-aware’ culture faster than the inability of the operational risk management technology to provide management information that is relevant and timely to business decision- makers. This is particularly true when the risk environment changes and the technology prevents the risk framework from being rapidly adapted to reflect the new environment.
This lack of flexibility and lack of business focus is particularly damaging given the shift in regulatory approach, especially with the creation of the FCA and its Conduct Risk agenda: moving away from a prescriptive, rulebook
The company’s StratexPoint technology is an integrated Strategy Execution and Risk Management solution. The solution is comprehensive in nature but modular in deployment, delivering a high ROI, high user adoption and high levels of assurance to your Board and Regulator(s) that you are operating within appetite.
About StratexSystems StratexSystems is the only software company in the world to provide an integrated, Risk-based Performance solution powered by Microsoft’s SharePoint platform.
based approach to regulation to one which emphasises judgement, business model, practices and culture.
“This philosophical change is important because
in our experience,
At StratexSystems we have developed a technology solution, StratexPoint, which was designed to embed operational risk
when
things go significantly wrong in a firm within our remit, it is not because it hasn’t complied with a set of narrow regulatory rules, but because there is a fundamental flaw in the business model, in the culture or its business practices.” Clive Adamson, Director of Supervision, FCA, November 2013.
Using the FCA as an example, it makes clear that it does not and will not provide a detailed description of how firms should go about meeting their regulatory requirements. Instead, they want to see firms ‘doing the right things’.
management into business
strategy, making risk appetite a central consideration and control mechanism for firms as they execute strategy on a continuous, day-to-day basis.
This focus on business outcomes, from the business model, business strategy and operational level enables firms to develop an approach to operational risk management which is business enabling, focused on creating business value rather than a regulatory-centric approach focused on ticking regulatory boxes.
53
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74