Tide over financial risk with Governance, Risk and Compliance

Recent developments in the financial services marketplace, and strict monitoring by regulators have compelled financial firms to focus on risk management and compliance. Companies have to meet regulatory demands while focusing on increasing revenue, managing cost and enhancing shareholders' value. With Governance, Risk and Compliance (GRC), companies can adopt a more effective approach to reducing business risk, ensure better compliance, and thereby, gain competitive advantage. In this issue of FINsights, we address various issues of risk management and compliance.

Strategic Themes in Risk and Compliance
By Ashok Vemuri

The financial services firms are increasingly viewing risk and compliance as two sides of the same coin. This article explores key priorities related to risk and compliance for the banking and capital markets sector.



Sub-prime crisis and credit risk measurement: Lessons learnt
By Thadi Murali, Srividhya Muralikrishnan and Balaji Yellavalli

Plummeting interest rates and lack of government control are responsible for the sub-prime crisis. This article highlights another factor - the current credit risk measurement process in retail mortgage lending. We focus on the issues relating to credit risk measurement and explore ways to address future challenges.


Credit Risk Management: Back to Basics
By Godwin George, Arup Sinha and Thadi Murali

Intense competition and the sub-prime crisis compel financial institutions to revisit the basics of credit risk management. This paper examines the overall lifecycle of the credit risk management process.


Raising the Bar: Executive Risk Reporting Using Fractal Maps
By Raghu Anantharam and Shriram Subramanian

Companies can identify market risks with an effective market risk reporting tool. This paper highlights the usage of fractal maps for analyzing risk numbers.


Red Light, Green Light: Playing the Risk Game
By Adam D. Honore

Understanding how a company acquires, manages and migrates data is essential to successful risk management practices. This article focuses on managing risk as a technology priority.


Risk Measurement: It’s All About Data, Data and Master Data
By Anita Stephen, Sabitha Vuppula and Abhijit Ghosh

Master Data Management is the main ingredient of the risk measurement process. This article shows how an effective Master Data Program can be used across the firm for risk, compliance and other related functions.


Navigating Through the Compliance Maze in a Post-merger World
By Debashis Pradhan and Naveen Balawat

Mergers are more likely to fail due to poor execution than lack of strategic fit. This paper argues that merged entities are successful when they implement a phased approach to integrating compliance IT systems and support it with a detailed analysis.


Managing the Problem Within: Employee Surveillance
By Anand Bhushan, Debodeb Datta and Rajesh Menon

Introduction of new and complex products and improved flow of information are creating challenges for employee surveillance. This article outlines an approach that reduces companies' exposure to the 'insider threat'.


Addressing the Partial Compliance Trap in the Wealth Management Industry
By Bob Skea and Vikesh Gupta

Financial institutions must adhere to stringent compliance regulations. Yet most companies lag behind when it comes to compliance. This article discusses the partial compliance trap, shortcomings of current efforts and proposes a solution to address the trap.


Demystifying Financial Compliance through an Integrated IT Framework
By Ravishankar N. and Ramachandran Sundaresan

There are several frameworks to address compliance issues in IT. This article defines an integrated framework that helps organizations achieve regulatory compliance, superior quality standards and business competitiveness.


Integrated Controls Management: A Cost-Effective Approach to Implementing GRC
By Uttam Purushottam, Satnam Gill and Ashwin Roongta

There is a perception that an integrated Governance, Risk and Compliance (GRC) program is expensive and requires a major IT realignment. This article suggests an Integrated Control Management approach.


Conversations with Tim Leech: Perspectives from an Industry Expert
Q & A session conducted by Satnam Gill

Companies can reduce overall business risk and ensure better compliance through Governance, Risk and Compliance (GRC) program. Tim Leech, an industry expert, shares his perspective on GRC.


Leveraging SaaS to Manage GRC
By Ravi U. and Vishakha C.

Companies need to manage risks and compliance across regulations, functions and regions. This article explores how companies can overcome the challenges of Governance, Risk and Compliance (GRC) by adopting an Enterprise SaaS Model.


Case Study Information Risk Management: A Mandatory Need
By Amar Bawagi and Viswananath Shenoy

A Fortune 100 global financial company partnered with Infosys to implement a robust Information Risk Management (IRM) program. The IRM program ensured compliance and reduced the cost and time of undertaking risk assessment by 50 percent.


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