For quite a while, we have been suggesting that advanced risk analytics and enterprise risk management platforms should be benefiting from industry trends. It is a truism that many CTRM and CM solutions are not very strong in the area of risk management – some are but most are offering fairly rudimentary risk reporting and a little limits management-type functionality. That is why more specialist risk vendors like Lacima, Kyos, Cubelogic and so on, exist and have had longevity in the market. Yet, in the past, for many firms, a form of rudimentary risk management embedded in their CTRM supplemented by some spreadsheets or libraries of risk analytics, really was sufficient for most purposes. The last few years though have seen lots of change and volatility. There is significantly more interest from stakeholders and regulators in ensuring that firms do proper risk management. The range of risk management has also expanded and continues to do so beyond price risk and credit and into operational risks through supply chains, legal risks, geopolitical risks, regulatory risk and now of course, carbon and ESG risks. Proper risk management is now an essential (if it ever really were not) aspect of any firm’s business… continue reading
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