Alignment of Accelus Audit, Compliance and Risk Delivers Unified Approach for Essential GRC Content and Technology
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the development of a new user interface for Accelus Risk Manager (ARM), which will bring enhanced risk management and risk reporting capabilities to governance, risk and compliance functions within organisations. Accelus Risk Manager’s new look incorporates best practices in useability, and was designed in collaboration with clients, to promote increased engagement with risk management by the front-line business in organisations.
Thomson Reuters today also further delivered on its unified approach for its Accelus workflow solutions, which includes Accelus Risk Manager, Accelus Compliance Manager, Accelus Policy Manager, and Accelus Audit Manger solutions, including eGRC and Auto-Audit, which will enable clients to connect and simplify their governance, risk and compliance (GRC) workflow to drive performance within their organizations. Utilising a modular approach, organisations can leverage the entire Thomson Reuters Accelus platform or select specific capabilities to solve targeted business problems. Scalability of modules and flexibility of delivery options mean that the platform scales to organisations of any size and to varying degrees of governance, risk and compliance program maturity.
Thomson Reuters Accelus supports the complex processes of risk management, including: policy management, internal audit, regulatory change management, e-learning, risk assessment, SEC reporting and disclosures, transaction monitoring, due diligence, risk screening, regulatory and risk intelligence as well as monitoring, testing and assessments. Accelus Risk Manager enables organisations to establish a framework for operational risk and enterprise risk management based on their risk appetite. It empowers executives to actively manage risks across their business, track the tasks others are expected to perform and report status to key stakeholders.
Accelus Risk Manager captures information such as incidents, indicators, assessment responses and scenario analysis data in a flexible and connected way. With the new user interface, reporting – whether it is on-screen, ad-hoc, or in a formal format – is significantly enhanced, allowing risk executives to communicate their organisations risk position to the business, senior management and the board more effectively. Risk managers can also more effectively analyse risk intelligence through the lenses of their organisations various structures and reporting lines, so that both the cause and effect of risk can be fully understood.
The risk data housed in Accelus Risk Manager powers the solution’s stress tests, including Advanced Measurement Approach operational risk capital modelling, Monte Carlo simulations and other forms of statistical analysis to help executives better communicate with regulators and understand the challenges their business faces.
“The new simplified and intuitive user interface for Accelus Risk Manager is another step in the structured journey of our GRC platform, Accelus,” said Andrew Neblett, managing director, Enterprise Risk Management, Governance, Risk & Compliance, Thomson Reuters. “By connecting the very best our proven solutions have to offer around a single, flexible data model, Accelus is the single solution that delivers the connectivity and performance organisations so urgently need from their GRC programmes, both today and as they develop and mature with the business.
“Over the next several quarters, Thomson Reuters will continue to make further enhancements to its audit, compliance, policy management, and risk capabilities; as well as continued evolution around the user interface; enhancements to mobile capabilities; and significant further development of the relationship between regulatory intelligence and workflow for regulatory change management,” Neblett added.
Thomson Reuters Accelus is designed in partnership with the market and utilises the extensive domain experience of Thomson Reuters to connect regulatory information to internal governance, risk and compliance business processes. Through the sharing of common definitions and terms, organisational reporting structures, taxonomies and frameworks, assurance professionals are able to realise improved data accuracy, consistent collaboration and a streamlined approach to GRC.
In 2013, Thomson Reuters Accelus has been named as a category leader in the Chartis RiskTech Quadrant™ For Operational Risk Management Systems, category leader in the Chartis RiskTech Quadrant™ for Enterprise Governance, Risk and Compliance Systems, named as ‘best of breed’ in the Chartis RiskTech Quadrant™ for AML solutions and has been positioned by Gartner, Inc. in its Leaders Quadrant of the “Enterprise Governance, Risk and Compliance Platforms Magic Quadrant.” Thomson Reuters was also named asOperational Risk Software Provider of the Year Award in the Operational Risk and Regulation Awards 2013.