CEO Lance Smith Identifies the Real-Time Achilles Heel at Third Annual Enterprise Risk Management Congress

3 December 2014

Dr. Lance Smith, CEO of Imagine Software, speaking at the 3rd Annual Enterprise Risk Management Congress (ERM) on December 3, 2014 said, "The Achilles heel for firms without real-time risk capabilities is starkly apparent when markets suddenly change dynamics – leaving firms unable to adapt to the new financial landscape."

Dr. Smith said, "Advances in technology have increased the speed of transactions – and so the risk." He added that, "New regulations mandate accurate, real-time portfolio management and limits monitoring, so firms need to be able to capture risk across the entire enterprise and rapidly identify and correct breeches as they occur intra-day – not just at the end of the day."

Dr. Smith noted that traditional enterprise risk management structures need a single risk engine optimized to maintain and deliver consistent global data – which will be the challenge as firms look to ensure the safety and stability of assets.

The Third Annual ERM Congress is focused on the challenges of maintaining an effective enterprise risk management framework and will provide insight from industry experts on best practices spanning from risk management to stress testing, for institutions both above and below the $50Bn thresholds.

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