"To successfully deliver on the conduct risk agenda, we believe firms must start by asking themselves if they have defined a clear customer value proposition and is that embedded into the firm’s business model and strategy.
Based on our experience working with clients across the financial services industry we have identified seven key challenges of Conduct Risk Management."
This 7-part blog series will touch upon each of the seven key challenges and how they can be solved using our solution, StratexPoint.
*2. Definition of the Business Model *
A central tenant of the FCA’s approach to regulation is to ensure that firms put market integrity and the interests of customers at the heart of their business strategy.
For many firms, when it comes to their business model, the challenge is how to capture, monitor and manage the business model is such a way that the strategic logic of how the firm will create, deliver and capture value is clear and transparent, but also how the firm will create value for shareholders while delivering fair customer outcomes.
This need for greater clarity and transparency around the business model is a particular challenge for many organisations. They must also improve the monitoring and management of their business model so that they can identify changes in both the external and internal drivers within their business model, and react.
How does StratexPoint help?
StratexPoint integrates both strategy and risk management within a single software application – providing a single version of the truth from a strategic and risk management perspective. The solution enables the definition of ‘business drivers’ which are the key factors which underpin the success or failure of the firm’s business model. The solution also links business drivers from the firm’s business model to the definition of risk appetite and integrates business drivers into the risk assessment.
To see more on the 7 challenges of Conduct Risk Mangement and how StratexPoint can help your firm, please download the full version below:
You can DOWNLOAD our latest Whitepaper on Conduct Risk for FREE. Just visit HERE to claim your free Whitepaper PDF.
