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February 2013

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Two New Oracle Solutions Target Today’s Risk Management Challenges

The financial crisis of 2008 and other game-changing events have fundamentally altered how financial institutions view and manage risk. But while they now require a more comprehensive approach to risk management, the legacy environments many organizations run consist of point solutions that cannot deliver the necessary enterprise view of operational risk. What’s the solution?

“Forward-looking financial institutions that are seeking to improve the management of risks and break down legacy silos must create unified environments,” says Peter Hill, Oracle Financial Services analytical applications product manager. “These infrastructures should be built with a single data foundation, a comprehensive set of risk management applications, and powerful analytical and reporting capabilities.”

Oracle Financial Services now offers two new applications that help financial organizations achieve those goals.

Oracle Financial Services Governance and Compliance Management is built on a unified enterprise-class platform that uses a shared set of master data, user rights, and modules to create a consistent user experience. It gives audit teams visibility across all lines of business so they can review and rate risks and controls, and supports business continuity and compliance managers as they develop detailed plans for every part of a firm’s operations.

Oracle Financial Services Operational Risk Analytics enables business users to conduct in-depth analysis of historical loss, risk, and control data, as well as review trends via prebuilt analytics and reports. The application helps users develop time-series analyses and find connections among key risk indicators, losses, incidents, and other factors.

These two solutions work in conjunction with Oracle Financial Services Operational Risk to provide an integrated solution for the management of operational risk and compliance across the business enterprise.

A new white paper from Oracle, “Operational Risk Management: Achieving Proactive Protection in a New Era,” explores today’s changing risk environment and offers detailed advice for financial institutions.

Get more information about the entire Oracle Financial Services Operational Risk suite of products

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