Risk Analytics

In recent years, the complexity and cost of compliance risk management has increased significantly. Frequent and fragmented regulatory change consumes large amounts of compliance time and many standard, repetitive compliance tasks are still reliant on manual processes. We observe that compliance functions frequently use multiple inconsistent data sources with technologies that are not fit for purpose and lack the required management reporting capabilities.

At the same time, first adopters of tools enabled by automation and AI have been able to achieve a reduction in the cost of compliance and develop strong competitive advantages in the market. Risk Analytics tools add an additional layer of sophistication through techniques such as natural language processing, machine learning and risk sensing, to facilitate more effective and more efficient compliance risk management.

Leveraging the latest in Risk Analytics enables compliance officers to focus more of their time on mitigating risks, rather than searching for the risks themselves. At an organisational level, such tools also support a proactive, risk-based and forward-looking approach to risk management compared to the traditional reactional approach. As such, the 1st and 2nd lines of defence are able to spend more of their time on value-adding consultation with the business and developing responses to important emerging compliance topics.

For any information on how our Risk Analytics solutions can help support your firm, please reach out to a member of our team.