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Financial Services and Risk management

Wednesday, 09 March 2011 08:40 administrator
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There is a need for identifying, assessing, managing and monitoring the organization’s business opportunities and risks in an integrated and transparent way.

Risk management has been a function within the finance departments of some organizations for many years. However, Enterprise Risk Management as a strategic, tactical and operational instrument to enhance and protect shareholder value while fulfilling regulatory obligations is a recent development in leading businesses according to OpenMind’s recent High Performance Business research.

Enterprise Risk Management is a process, or framework, an organization can implement to come to a reasonable certainty that its strategic and derived operational (efficacy and efficiency of processes), reporting (reliability) and compliance (laws and regulations, codes of conduct) goals are achieved. OpenMind’s Enterprise Risk Management enables an organization to change from a fragmented and compartmentalized risk management solution to one that is strategic in overall scope, viewing controls and risk initiatives in a coherent framework, thereby enhancing decision making and analysis to support growth and high performance.

OpenMind's Risk Management services help organizations elevate risk discussions to a strategic level and embrace two critical facets:

· A preventative, control-based aspect focusing on negative events, loss prevention and risk mitigation.

· A strategic, entrepreneurial aspect focusing on aligning risk and reward in pursuit of business advantage.


Related Research & Insights:

· Managing Risk for High Performance in Extraordinary Times: Report on the Gartner 2009 Global Risk Management Study

 

OpenMind has been at the forefront of innovation and creativity in mortgage consulting. We have a long record of helping lenders and servicers meet their objectives while adjusting to new market requirements and constraints. Inevitable, ongoing change will create opportunities for those companies that are fully prepared — that have effective, flexible strategies in place to exploit opportunities and have leveraged their technology and operations to support their vision. OpenMind offers proven thought leadership and relentless commitment to achieving results. Count on us for out-of-the-box thinking that is informed by a thorough understanding of best practices and achievable results in:

  • Automated decisioning
  • Process improvement
  • Electronic mortgage strategy, operational design and implementation
  • Channel strategy and innovation
  • Systems replacement and legacy renewal