Financial Services
Financial services firms must manage and mitigate multiple regulations as a result of the changing demands of stakeholders, such as shareholders and credit rating agencies. The financial services sector was one of the first industries that saw the importance of risk management. Being “in control” of the corporation’s risk management and regulatory compliance is essential for the survival of a banking or insurance company in today’s dynamic economic climate.
Converged approach
More and more financial service organizations are using BWise GRC to manage and mitigate compliance with financial regulations and serve stakeholders with more transparent insight into its operations. In addition, BWise is used to
assess and
analyze risk as part of the corporation’s risk management diligence, and administer governance programs such as corporate policies and procedures, and legal and entity management.
Industry specific Internal control regulations such as Sarbanes-Oxley in the United States and Bill 198 in Canada are being mitigated by our clients internationally. On Web TV and in our reference cases you can watch and read how our customers manage other industry specific regulations such as Basel II for European banks and the insurance regulations NAIC Model Audit Rule in the United States or Solvency II in Europe in an effective and efficient manner.
Benefits: With the BWise integrated GRC platform our customers were able to turn the burdens of compliance, risk management and corporate governance into a strong driver of compliance cost reduction, sound risk management and process optimization.
