West Conshohocken, Pa., March 17, 2005
Keane, a leading provider of compliance and risk management solutions to Fortune 1,000 corporations, financial services firms, and mutual funds, today announced it has made a strategic investment in SAFE Risk Management Systems LLC, an independent risk management solutions provider based in Baltimore, MD. Today Keane also announced the launch of Business Risk Management Solutions LLC, an affiliate of Keane, and SCOREâ¢, a Web-based decision-support tool, both of which will enable companies to dynamically measure, monitor and manage the evolving requirements for corporate governance, reporting, risk, and compliance through a comprehensive suite of services combined with market leading proprietary technology.
Keaneâs new Business Risk Management Solutions Division offers technology, consulting and professional services to help Fortune 1000 companies rapidly identify Business-wide vulnerabilities; calculate their total risk cost; and create, manage, and audit ongoing corrective action plans to manage risk and regulatory processes.
The new Business Risk Management Solutions Division incorporates SCORE, Keaneâs new customizable, Web-based decision-support system. SCORE is a patent-pending, Business-wide risk and compliance-management platform that automates business processes to quantify risk and compliance costs, implement risk mitigation and compliance processes, and provide continuous reporting and benchmarking.
SCORE provides real-time auditable control reports for all identified areas of risk, including regulatory compliance requirements, high-level overviews that increase workflow efficiency, and implements cost-effective risk management strategies for reporting on all levels. Formerly known as ERICâ¢ (Enterprise Risk Integration Console) and developed by SAFE, SCORE is now exclusively offered and supported by Business Risk Management Solutions LLC.
"Risk affects every aspect of every enterprise," says Peter Teuten, Chief Development Officer of Business Risk Management Solutions LLC, founder and former president of SAFE. "To increase efficiency and contribute to the bottom line, risk management must be an integrated function across all business disciplines. Keaneâs new business risk management services provide a Business-wide solution. Iâm thrilled to have this opportunity to help our clients through these advanced service and software offerings, and grow Keaneâs risk management division."
SAFEâs 24 years of experience in risk management and insurance, combined with Keaneâs 50 years of experience with compliance, give Keaneâs current and future customers a unique knowledge base, and the extensive resources to address all aspects of increasingly stringent regulatory requirements.
"The capabilities we gain from this investment in SCORE are a truly natural extension of Keaneâs current services, and our expertise in compliance," says Doug Johnson, President of The Keane Organization, Inc. "In light of closer public scrutiny, and laws such as Sarbanes-Oxley, and Chief Compliance Officer mandates at Mutual Fund organizations, corporate transparency demands much more than simple compliance or insurance. Even the most diligent companies leave themselves exposed by failing to embrace risk management. Keane is now uniquely positioned to offer Business-wide risk and compliance management services through a single, comprehensive solution that accommodates virtually every need."