Research shows risk management lacking

Deloitte claims that while some strides have been made, banks and other financial institutions may still have work ahead of them in their risk management efforts, says PR Newswire.

According to a global survey released by Deloitte, less than half of the financial institutions surveyed (49%) have incorporated risk-management responsibilities, either in whole or in part, into the performance goals and compensation decisions for senior management.

"The past two years have demonstrated the need for enhanced risk management capabilities at financial institutions, and the challenging times that undoubtedly lie ahead make it an even greater priority," says Edward Hida, the editor of the report and a partner with Deloitte and Touche's banking and securities team.

Misys has rolled out Misys Credit Risk Vantage, the latest solution in its risk management portfolio, reports Wall Street Technology.

Misys Credit Risk Vantage is available both as a standalone solution as well as integrated with other Misys solutions.

Cubillas Ding, senior analyst at Celent, says: "There is a significant shift towards more consistency in firm-wide efforts to proactively measure, monitor and control risks in tandem rather than in parts, which is not surprising given the learnings from recent crisis events."

Pakistan's Allied Bank has signed for risk management technology from SAS to help it meet Basel II regulatory requirements and improve credit ratings, states Finextra.

The bank will roll out SAS's customer intelligence and enterprise risk management systems as well as an enterprise business intelligence server.

Fareed Vardag, chief risk officer, Allied Bank, says: "It offers a fully integrated solution that houses both risk and consumer solutions driven by extensive analytics. We, therefore, anticipate a quick return on our investment and an overall low cost of ownership."