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

A-Team Insight Blogs

Thomson Reuters Adds Holistic Risk Management Solution to Connected Risk

Subscribe to our newsletter

Thomson Reuters has extended its Connected Risk platform to include a commercialised risk management solution designed to help customers develop more holistic, effective risk management programmes aligned with their risk methodology and business strategy. Thomson Reuters Risk Management is the latest solution added to Connected Risk. It assembles diverse types of risk and delivers a holistic enterprise risk management view that provides insights necessary for better informed decisions.

The solution is designed to bypass the problem of using several solutions to cover different areas of risk, such as operational risk, regulatory risk, legal risk, tax risk, settlement risk and model risk, and offers overarching risk management.

Gareth Evans, managing director, Enterprise Risk Management at Thomson Reuters, explains: “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 customers in order to know and optimise their total risk parameters and opportunities.”

The Risk Management solution is designed to help save time and costs. It also allows financial services and corporate customers to tailor their own risk solutions on the Connected Risk platform or take the out-of-the-box risk product and refine it to meet specific needs. Evans adds: “This bespoke, holistic approach is designed to help customers better manage the unprecedented volumes of regulatory change and operational complexity they face daily.”

The solution includes a flexible assessment engine that uses dynamic building blocks that consider the unique methodology of each customer and powerful data mapping capabilities to draw on many sources of data when completing a risk assessment. A full history of a customer’s risk profile is tracked and is reportable through an integrated reporting engine.

Thomson Reuters brought Connected Risk to market in early 2017. It allows customers and partners to tailor an array of solutions to meet their needs. Deployment can be accelerated by using configurable out-of-the-box solutions that Thomson Reuters has developed in conjunction with customers and advisory firms for the most popular risk use cases.

Solutions released recently include Model Risk Management, which helps institutions demonstrate a real-time understanding of their model risk landscape, and Audit Management, which enables firms to better assess risks and increase the efficiency of the auditing process. Other solutions include SIIA CODiE Regulatory Change Management, which informs and manages regulatory change processes and is integrated with Thomson Reuters’ Regulatory Intelligence feed.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Regulatory change management – challenges, solutions and case studies

Regulatory change has become part of the fabric of capital markets. It has also become increasingly complex as more regulations are introduced, significant amendments are made frequently, and small changes are made on a rolling basis – the whole made more difficult by jurisdictional interpretation and the UK’s amended regulatory regime post Brexit. If keeping...

BLOG

A-Team Extends, Expands and Releases 2021/2022 Edition of Regulatory Data Handbook

Don’t miss the latest edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. The 2021/2022 handbook covers more than 40 regulations, providing you with a detailed description of each regulation including its...

EVENT

Data Management Summit USA Virtual (Redirected)

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...