September 30, 2002 - Geneva - Sibos 2002 - JPMorgan Treasury Services, www.jpmorgan.com/ts, a unit of JPMorgan Chase Bank and a leader in global payment, trade finance and treasury services management, today announced several significant enhancements to its Web-based, enterprise wide Horizon Risk Management Solution. JPMorgan's self-assessment and audit tool features an offline, Excel-based capability, HorizonXL, that allows various lines of business in an organisation, as well as different companies in an industry, to submit data for instant analysis and tracking of actions taken to mitigate risk. The Horizon tool also offers customised reporting for greater flexibility, and requires no technical skills, software or special training to use. A Treasury Readiness template permits clients to review the readiness of their treasury operations in the event of a major contingency occurrence.
"JPMorgan's Horizon Risk Management Solution provides an excellent means for businesses to assess risk exposure throughout their firm, so they can identify, articulate and then manage that risk with greater transparency," explained Craig Spielman, Horizon executive for JPMorgan Treasury Services. "Banks using Horizon to manage their operational risk have a better chance of creating a proactive and transparent business culture that consciously manages risks in light of changing business conditions. This could help them gain a competitive edge in the marketplace and assist them to reduce their capital reserves under the new proposed Basle Capital Accord."
The Horizon Risk Management Solution offers firms an innovative approach to optimise operational risk management. Horizon can improve management of internal processes, link strategy to business activities and help to facilitate change to a proactive business culture, resulting in reporting transparency and increased shareholder value. Horizon provides companies and enterprises with a clearer picture of the operational risks they face and saves them time and money by significantly streamlining manual control procedures. Horizon helps management document the controls established to mitigate risk, evaluate the effectiveness of business units' compliance with defined controls, identify areas of risk which lack control procedures, and establish and monitor control action plans. By understanding the organisation's risk profile, management can make more informed strategic and expenditure decisions.
Today, Horizon is helping some of the world's leading institutions such as central banks, investment and retail banks, insurance companies, mortgage companies and energy companies to manage risk.
Key features of the Horizon tool include:
- System runs on a client intranet and can be accessed globally.
- Reduced assessment and audit costs through greater efficiency.
- Improved action plan completion rates through an e-mail notification system, which reminds people when their action plans are due.
- Allows management to quickly view the health of their organisation through online graphics, and take appropriate actions when needed.
- Provides tremendous flexibility, and broad applicability including self-assessment, audit, new product analyses, project tracking, compliance reviews and decision support.
For more information please contact:
Tel. 020 7936 9058