The main problem with managing Enterprise Risk Management is bringing all the internal and external information from disparate sources together to give the risk manager a reliable holistic view of the risks that matter to you and your organisation. This has been the aim of Thomson Reuters’s Connected Risk platform since it was set up in early 2017.
It draws from various sources – third-party or non-standardized – into a single, aggregated view of risk, the platform prioritizes data using advanced mapping, and then makes the information easier to understand through a system of tags, structures, charts, and a shared taxonomy, see figure:
Source & Copyright©2018 - Thomson Reuters
Thomson Reuters has further expanded this Connected Risk platform to include a commercialized Risk Management solution to help new customers develop more holistic, effective risk management programs aligned with their risk methodology and business strategy.
Personalised holistic view
The new Risk Management module assembles all these forms of risk to deliver a holistic ERM view that delivers the connectivity and insights necessary for better informed decisions that are aligned with agreed-upon business and risk strategy.
It maps the company’s profile using Thomson Reuters unique methodology and processes to enable users to be fully risk aware. It:
- manages your model inventory using a powerful workflow engine
- identifies and tracks issues through to resolution
- enables users to meet regulatory requirements through flexible data mapping and integrated reporting.
CTMfile take: This new Risk Management Solution module shows how the only way to fully understand and manage your ERM is to bring all the internal and external information from disparate sources together to give a complete holistic picture of your risks.
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