About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Acin Enhances Operational Risk Control Platform

Subscribe to our newsletter

Acin has enhanced its SaaS-based operational risk control platform, adding a new Acin Score facility as well as forward-looking scenario analysis and emerging risk assessment capabilities. The enhancements seek to address financial institutions’ need for a holistic approach to operational risk to mitigate against expensive process failures, financial losses, regulatory penalties and reputational damage.

The Acin Platform enables organizations to comprehensively identify operational risk. The new Acin Score function allows them to quantify the completeness of their risks and controls, and calibrate against their peers through Acin’s network of financial institutions. The new scenario analysis and emerging risk assessment functions, meanwhile, are aimed at helping clients identify potential operational incidents before they happen.

As well as quantifying their risk control design, the Acin Score allows organisations to analyse control effectiveness, automatically track progress over time and demonstrate that progress to regulators. According to Acin, Acin Score offers clients an opportunity to rationalise processes. The company says that for a front-office shared controls inventory, the Acin Platform can reduce the number of controls new customers require by an average 62%.

The new emerging risk assessment capability uses advanced analytics and insights driven by automated risk control intelligence, horizon-scanning and Acin Network data. Customers also receive alerts from global regulators, which helps them stay abreast of the latest developments, as well as analysis of the business impacts of emerging risk scenarios, with actionable insights to help mitigate risk.

According to Acin, it can take Tier-1 banks more than 100 days of manpower to gather their risk and control information and to rationalise controls for risk and control self-assessment (RCSA). The Acin Platform seeks to make this process quicker and more efficient through the consistent documentation of controls across the organization and peer analysis. Combined with data protocols and the Acin Score, this delivers a more effective and higher quality RCSA process.

Paul Ford, CEO at Acin, says: “Our spring release provides a 360-degree view of every customer’s risk and control inventory through an intuitive dashboard, empowering them to make informed decisions in measuring, mitigating and managing the risks they face. And, crucially, for those responsible for operational risk management and controls, it is now possible to get on the front foot when talking to regulators and auditors, as well as colleagues across the three lines of defence.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to automate entity data management and due diligence to ensure efficiency, accuracy and compliance

Requesting, gathering, analysing and monitoring customer, vendor and partner entity data is time consuming, and often a tedious manual process. This can slow down customer relationships and expose financial institutions to risk from inaccurate, incomplete or outdated data – but there are solutions to these problems. This webinar will consider the challenges of sourcing and...

BLOG

ICE Launches Global Sanctions Monitoring Service

Intercontinental Exchange (ICE) has launched a sanctions monitoring service to help financial institutions comply with the increasingly complex landscape of global sanctions. The new service leverages ICE’s extensive data offering, cross-referencing and linkage capabilities to identify securities, entities and groups targeted by sanctions programmes. ICE’s sanctions data covers financial and economic restrictive measures against entities...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...