Discover how to mitigate your risk
All human endeavors involve uncertainty and risk.
Risk management is the process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision making. Risk management is about managing uncertainty related to a threat.
The financial world is constantly changing and filled with uncertainty. More than ever, banking and finance institutions need to use every tool at their disposal to reduce risk. Fortunately, today’s Business Intelligence solutions provide actionable information that organizations can use to mitigate risk in several areas.
Through KPI monitoring, it is possible to identify business process strengths and weaknesses. Key performance indicators (KPIs) are essential since they allow management to keep a watchful eye on system performance and effectiveness.
Pronobia assists companies to better identify activities and processes which endanger company’s operations. Mitigating risks has become easier with tools like reporting and dashboards. KPI, threshold, objectives, and alert can be set to monitor key risk area like:
- Tax Intelligence
- Credit Risk Modelling
- Competitor Intelligence
- Reputational Risk
Institutions that adopt and fully utilize BI solutions to manage risk, increase operational efficiency, and provide products and services that meet real customer needs will be better positioned to enjoy sustained growth, profitability and a competitive edge for years to come.
Data management and reporting are critical to Risk and Compliance Management.
To sustain continuous growth and customer satisfaction it is essential to accurately identify, analyze and act to mitigate potential operational or strategic business risks.
Compliance to modern Governance and Regulations requirements demands more than meeting basis external legal and regularity obligations. You can use such regulations as a means to generate added business value through improving operational decision-making and strategic planning.
In order to achieve competitive advantage you need to:
- define the baseline by benchmarking metrics
- analyse and track progress against the baseline
Real life examples of Global Risk Management
The Credit Suisse Asset Management (part of the Credit Suisse group) has adopted the Microsoft Bi solution creating a central risk repository with automatic analytics capabilities which has improved productivity, expanded coverage activities, and given more time to focus on portfolio risk.
Call Center Benefits (Example)
Business intelligence brings to the table several tangible and intangible benefits for a call center. The call center environment is ripe with metrics and key performance indicators (KPIs) that allow management to keep a watchful eye on system performance and agent effectiveness. Through KPI monitoring, it is possible to identify business process strengths and weaknesses. It is also possible to evaluate whether the current level of technology deployed in the call center fulfills the needs of the organization.