Thomson Reuters has expanded its connected risk platform to include a commercialised risk management (RM) solution.
The company said the solution will help new customers develop more ‘holistic, effective risk management programs’ aligned with their risk methodology and business strategy.
In the current market, financial services and corporate sectors are tasked with finding a solution that encompasses an enterprise-wide view of risk management, instead of accepting a solution that only addresses a subset of enterprise risk management (ERM), such as operational risk, regulatory risk, legal risk, tax risk, settlement risk, model risk, and other non-financial risks.
However, Thomson Reuters Risk Management claims to assemble all these forms of risk to deliver a holistic ERM view. It says the new solution now delivers the connectivity and insights necessary for better informed decisions that are aligned with agreed-upon business and risk strategy. It is designed to help its customers better manage the ‘unprecedented volumes’ of regulatory change and operational complexity in today’s market.
“With the increased and ongoing rate of business-operations change, a comprehensive and effective risk management solution is no longer a nice-to-have option. It has become a necessity for our customers in order to know and optimize their total risk parameters and opportunities,” said Gareth Evans, managing director, Enterprise Risk Management at Thomson Reuters. “Our Risk Management solution not only helps save time and lowers costs, it also allows financial services and corporate customers to tailor their own risk solutions on our platform or take our out-of-the-box risk solution and refine it to meet their specific needs.”
The Risk Management uses dynamic building blocks that take into account the unique methodology of each individual customer and data mapping capabilities to draw on many sources of data when completing the assessment. A full history of a customer’s risk profile is tracked and is reportable through an integrated reporting engine.
Thomson Reuters formally launched the Connected Risk platform in Q1 2017 to allow customers and partners to tailor solutions to meet both the varied and collective needs of the risk community.
Earlier this year, a consortium led by global private equity giant Blackstone partnered with Thomson Reuters’ Financial & Risk (F&R) business.
The Blackstone-led consortium, which also features the Canada Pension Plan Investment Board and GIC, will own 55 percent of the equity in a new corporation created to hold the F&R business. Thomson Reuters will retain a 45 percent equity stake, at an overall valuation of $20bn.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
