“A key role of a board is to set the basic goals for a firm’s strategy and to ensure that they are within the agreed risk appetite. This requires that a board assure itself that a detailed consideration of risks is part of the process of considering future strategy” - The failure of the Royal Bank of Scotland, Financial Services Authority Board Report, December 2011
One of the UK's newest banks has chosen StratexPoint to help grow its business
StratexSystems' latest software solution, StratexPoint, will play a key role in ensuring the successful growth and development of Aldermore Bank, a relative newcomer to the UK financial services industry.
Aldermore's Chief Risk Officer, Steve Barry, says, “As a relatively new business we recognise that we need to continually invest and develop and we believe that by employing the StratexSystems product, StratexPoint, we will be able to improve the quality of our risk management processes which in turn will support the rest of the business in achieving our long term objectives. This product will take us from a simple automation process to an integration of strategy and risk – both of which are essential to the success of any business.”
StratexPoint is powered by Microsoft's SharePoint technology and is unique in its ability to integrate strategy execution and risk management into one tool. The product enables businesses to improve the quality, accuracy and timeliness of their information and processes in order to support the execution of strategy and management of risk throughout the business.
Risk technology spending to hit $23 billion by 2013
London – 7 November 2011: Compliance and integration to drive risk technology expenditure according to the sixth edition of Chartis Research’s RiskTech100® report.
"There is a quiet revolution taking place in the financial services industry, where the disciplines of risk and finance are converging," comments Peyman Mestchian, Managing Partner of Chartis Research. He says that it is characterized by better alignment of the CFO and CRO and is leading to a re-think of organizational structures, business processes and underlying technology architectures.
While Mestchian says that regulation continues to play a major role in driving demand for risk technology, he also points to a trend towards "value-based compliance" moving away from the traditional "tick box" mentality.
StratexPoint enables Risk-based Performance Management deployment across US retail bank network
Risk-based performance has been selected as the framework to support the roll out of an integrated, enterprise-wide performance and risk framework, after a rigorous proof of concept process.
This deployment will cover the entire US network of a US retail bank and will be enabled via StratexPoint, a SharePoint application for performance and risk management. Given the nature of this deployment with an emphasis on cultural change and the need to embed performance and risk management, collaborative nature of StratexPoint, the ease of roll-out to 1500+ users and comprehensive functionality was critical in the client’s decision-making.
