Wolters Kluwer Financial Services announced today that it has released the latest version of the companyâs ARC Logics for Financial Services offering. The enterprise risk management (ERM) solution suite draws upon actionable, industry-specific regulatory intelligence and Wolters Kluwer Financial Servicesâ strong domain expertise. All of this helps financial organizations bring transparency, traceability and efficiency to managing compliance, operational and financial risks as well as to the audit function.
With its latest version of ARC Logics, Wolters Kluwer Financial Services has enhanced the solution suiteâs Risk and Controls module with additional features. By marrying new mission-critical risk management functionality with the most up-to-date financial regulatory content, these features will further empower organizationsâ ability to manage risk across the enterprise. Enhancements to the latest version of ARC Logicsâ Risk and Controls module include:
â¢ Policies and procedures managementâAttestations, including distributing, tracking, monitoring, and reporting as well as formal association to individual risks and or controls;
â¢ Authoritative sourcesâOne stop review of all components of compliance and control framework items and reference points to ensure confidence in continuity of control from primary obligation and objection through operational implementation;
â¢ Risk Map BuilderâAn easy 1-2-3 approach for mapping risks and controls into targeted risk assessments specific to each organizationâs ERM framework;
â¢ Thirty additional product reportsâIncluding additional dashboards, heat maps, testing and key risk indicator and key performance indicator reporting; and
â¢ Several new key asset, vendor and IT management featuresâEach designed to help organizations better manage these important areas of risk by viewing them holistically and allowing the context of each areaâs risks to be realized across the enterprise.
âThese enhancements offer organizations an increased ability to manage their most pressing regulatory and risk management obligations from start to finish,â said Todd Cooper, vice president and general manager of Wolters Kluwer Financial Servicesâ Enterprise Risk Compliance business. âThe added context provided will allow organizations to achieve an even more transparent and complete view of risks across their businesses while holding front-line employees accountable for working within the organizationâs regulatory obligation and the C-suiteâs articulated risk tolerance.â
ARC Logics offers financial organizations a modular approach that enables them to fulfill their immediate risk management objectives in a targeted, cost-effective manner while allowing for expanded future usage of the same platform. The solutionâs modules are Letter of Law and Industry Standards, Policies and Procedures, Risks and Controls, Financial Analytics, Program Management, and Audit. These can be implemented all at once or individually, and expanded as needed with changing business requirements and regulations.