No other industry attracts as much attention as financial services.
Banking, insurance, mortgages, capital markets, investments – all are under a microscope right now, and their GRC practices are part of that focus.
Now more than ever, all areas of the financial services industry are facing higher levels of:
GRC is here to stay, and Methodware solutions can help you take advantage of the opportunities that it presents.
Make more informed strategic decisions – executives and boards need clear, relevant information as quickly as possible. ERA Kairos lets you view the data you need, the way you want to see it, so you can better align your GRC activities with your strategic objectives.
Focus on value-added activities – increase the efficiency of your GRC processes, and use the methods of ERA Kairos to streamline the key activities to make them more intuitive. Through personalisation, your frontline people will spend less time on risk assessments and financial controls certifications and more time on lending, underwriting and customer relationships.
Methodware clients range from global banks to credit unions, multinational insurance firms to building societies, investment companies to community banks.
Now that the novelty of Basel II has worn off, banks realise that things are different in practice than they were in theory. You need to look at ways to get more out of Basel by improving your processes and establishing more accurate capital allocations. All the while, you’re keeping a wary eye on Basel III and what it might mean for you down the road.
GRC in banking is about more than just Basel. Many organisations use GRC to gain competitive advantages, identify opportunities and establish strong governance. Methodware clients use ERA to monitor compliance with Federal Reserve or FSA regulations, conduct vendor risk assessments and perform data privacy audits.
We know that the insurance industry is intensely regulated and Solvency II is changing the rules again. Make the most of your organisation’s experience with ERA Kairos. Environmental risk, political risk or basic human error – endless threats face insurance companies. We can help you track historical indicators, support decision making and help with forward planning.
With a Solvency II implementation deadline of 31 December 2012, there couldn’t be a better time to make sure your organisation is ready. Keeping your GRC information and your knowledge archives up-to-date is essential. Harmonised global compliance records ease the audit trail. ERA Kairos offers the only flexible, robust, easy storage solution, while allowing you to plan and track all your GRC activity. From a top-level overview for strategic planning to detailed logging capabilities and in-depth analysis functions for every member of the ERM team: ERA Kairos has it all in one place.
Methodware already has a number of significant insurance companies using ERA for Solvency II, as well as other key GRC functions.
Our observation is that insurance companies have so far been focussing their Solvency II efforts on pillar 1 and their capital requirements modelling. Now the shift is towards pillar 2 and pillar 3, the interplay between pillars and embedding a governance and risk management operation throughout the business. This is our area of expertise and our value-add to you.
We’ve leveraged our hands-on experience with key insurance companies to create a standardised Solvency II starter pack in ERA. This includes frameworks, risk management processes, integration of qualitative and quantitative risk management, KRIs, appetites, feedback loops to pillar 1 and reporting.
Our Solvency II working practice group provides clients with the opportunity to discuss challenges, progress and successes in insurance risk management and Solvency II compliance. We work to facilitate pragmatic and effective knowledge sharing and create concrete deliverables based on our proven software.
