Home > Operational Risk Reporting | Risk and Control | Financial Services Outsourcing Solutions | eClerx

Building and Running a Robust Risk Reporting Framework

Customer Experience and Quality Assurance

Proactive management of operational risk is an increasingly critical requirement for any financial institution – building a robust operational risk reporting framework is a crucial element towards ensuring that all risk elements are being captured and reported in a timely and accurate way.

Building such a framework requires technology, processes , and operational strategy to be aligned optimally for the creation of an optimal risk measurement model.

Challenges

  • ​Determining the right portfolio of reports that can accurately represent all intrinsic operational risks
  • Defining the right data representation model that also enables granular breakdown by function/asset class/other areas
  • Usage of fragmented and non standard systems by functions, geographies and even by asset class creates major data aggregation challenges
  • Increasing regulatory requirements often require one-off/bespoke/custom reporting models to be created – Custom report builds usually invoke large IT costs
  • Maintaining accuracy and timeliness of reports while handling a dynamic business and regulatory environment

Solutions

  • ​Extensive experience and subject matter expertise on risk reporting and data handling enables our team of experts to define a scalable and customizable reporting framework while working within the constraints of the clients’ IT environment
  • Extensive tactical automation to fix challenges which would otherwise require large internal IT expenses
  • Creation of custom dashboards based on flexible and modern MI platforms that enable end users to generate self customizable reports
  • Robust processing models that ensure error free processing with minimal human intervention

Benefits

  • ​Streamlined reporting procedures by leveraging in-house domain experience
  • Enable client to adapt to rapidly changing business environment and regulatory mandates
  • Periodic benchmarking of reporting standards against internal/external and regulatory requirements
  • MI/reports highlighting compliance with regulations and peer-to-peer analysis highlighting client position
  • Redefine client behavior and improve process control by utilizing metrics to identify trending, root causes, etc.
  • Web based interactive dashboards with org-wide and drill down views of business to facilitate decision making