The Basel II Accord identifies operational risk as a stand alone exposure that not only needs to be adequately capitalized for, but also well managed by banks. Financial institutions have always been subject to meeting a raft of compliance mandates. Second generation operational risk and GRC (Governance, Risk and Compliance) technology solutions have evolved into integrated platforms providing:
- an integrated view of a bank's governance framework
- end-to-end functionality for self assessment, loss data capture and key risk indicators
- compliance to relevant national regulations and to internal policies.
RiskTech consultants have deep domain knowledge, solution expertise and technical capabilities in rolling out technology solutions for operational risk, GRC, Fraud and Anti-Money Laundering. In addition, RiskTech has developed value-added services and pre-packaged content comprising of risk-libraries, controls, causes, risk indicators, and methodologies for accelerating the implementation and roll-out of these solutions