Chief Risk Officers can monitor key risk indicators and alerts easily and dynamically across different risk classes
Misys, the global application software and services company, has launched Misys Risk Insight, a new way of visualising and managing risk across the organisation. The solution from Misys is both a risk aggregation tool and a presentation dashboard that gives banks an intelligent and dynamic way to control and manage risk on all levels of the organisation.
Sitting at the heart of Misys Global Risk, which was launched in November 2012, Misys Risk Insight gathers together all risk information from each part of the organisation into one central place. Risk Insight is a valuable tool for anyone who needs to make risk-based decisions within a financial institution, from chief risk officers, heads of business lines or risk groups, as well as trading executives.
This is the first time that this intelligent risk information is available through the same user experience on smartphones, tablets and other mobile devices. Risk Insight allows decision makers to bring risk transparency to a new level, follow key risk indicators and set up personal alerts pertinent to their area of business across trading and banking. The dashboard provides easy-to-view dynamic data so that anyone within the organisation can work with the same risk intelligence. The information is available from the highest aggregated level and can be traced down into specific deals where deeper analysis is required.
Whether risk information is held in a Misys Global Risk module, a third party application or an in-house system does not matter. Misys Risk Insight aggregates all risk information extremely quickly across the organization and makes them visible regardless of location.
“It is vital that financial services organisations have the complete view of all risks across the entire enterprise so they can be controlled and managed as effectively as possible,” states Thierry Truche, Head of Product Management, Misys Global Risk. “Misys Risk Insight provides senior management with full and immediate transparency on the risks taken by all business units. Whether you are looking at long-term risks such as ALM or more time-critical risk such as market risks, critical exposures can be more easily identified, followed and addressed using Risk Insight. The risk for the company is therefore not only controlled but can be also minimised. Risk Insight provides CROs and group Senior Management with continuous assurances that all business units operate within the defined risk appetite and risk strategy.”