Capco Unveils New Report Underscoring the Elevated Importance of Enterprise Risk Management in Today’s Battered Economy

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Report Details Recommendations and Goals to Achieve Risk Management Friction

Capco, the global provider of consulting and managed services to the financial services industry, published a new report that illuminates the new—and heightened—role that risk management should play in operating a successful financial institution in today’s economy. The report, entitled “Enterprise Friction: The Mandate for Risk Management,” provides banks and financial organizations with an overview of enterprise risk management and a detailed road map for defining and implementing effective risk management programs.

According to the report, the key to successful enterprise risk management is the application of well-balanced friction that’s designed to help organizations avoid unnecessary losses and respond effectively to the threats and vulnerabilities to which they are exposed.

Some key highlights of the report reveal that:

  •     Organizations need enterprise risk management to help minimize, monitor and control the likelihood and/or fallout of unfavorable events caused by unpredictable financial markets, legal liabilities, project failures, accidents, security snafus, and even terrorist attacks and natural disasters.
  •     To achieve the right risk management “friction,” organizations need to make strategic business decisions and risk assessments in tandem, thus creating a dynamic, even symbiotic, interaction between the two.
  •     Despite market meltdowns, international recessions and credit crises, risk management is still receiving short shrift because few companies believe they have the financial resources or time to bolster their existing risk management practices.

The report outlines steps financial institutions can take to achieve their appropriate level of friction:

  •     Rethink risk management as a strategic function rather than as a necessary evil;
  •     Integrate risk management into the front end of business process development;
  •     Leverage data as the foundation for a risk management program; and
  •     Nurture a culture of risk awareness, accountability and action.

The report is available now at http://www.capco.com.

About Capco
Capco is a leading global provider of integrated consulting, technology and transformation services dedicated solely to the financial services industry. Our professionals combine innovative thinking with our unrivalled first-hand industry knowledge to offer our clients consulting expertise, complex technology and package integration, and managed services to move their organizations forward. Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. In North America, we specialize in Banking; Capital Markets; Wealth and Investment Management; Finance, Risk & Compliance and Technology with offices in Chicago, D.C., New York, San Francisco and Toronto. To learn more, contact us at + 1 212-284-8600 (+32 3 740 10 00 from outside the United States or Canada), or visit our Web site at http://www.capco.com.

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Diana Butler Buxton

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