April 19, 2013 - Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, announced it has been named as Operational Risk & Regulation's operational risk software provider of the year in the Operational Risk and Regulation Awards, 2013.
Thomson Reuters was recognised for Accelus Risk Manager (ARM) a solution that enables organisations to establish a framework for operational risk based on their risk appetite, helping them to deliver an appropriate risk culture. ARM captures information such as incidents, indicators, assessment responses and scenario analysis data in a flexible and connected way. Risk managers can analyse this risk intelligence through the lenses of their organisation's various structures and reporting lines, so that both the cause and effect of 'a risk' can be fully understood. Reporting – whether it is on-screen, ad-hoc, or in a formal format – helps risk executives communicate their organisation's risk position to the business, senior management and the board.
Accelus Risk Manager also empowers executives to actively manage risks across the business, track the tasks others are expected to perform and report status to key stakeholders. The information contained in ARM can be linked to key deliverables in an organisation's risk appetite framework, enabling a holistic approach to measuring and managing risk. Risk data housed in ARM powers the solution's stress tests, Basel Advanced Measurement Approach (AMA) operational risk capital modelling, Monte Carlo simulations and other forms of statistical analysis to help executives better communicate with regulators and to understand the challenges their business faces.
"Operational risk is now front-and-centre on regulators' agenda, but we are also seeing many clients significantly enhancing their operational risk management capabilities because they understand how this discipline can add significant value to their businesses," said Mark Schlageter, managing director, Governance, Risk & Compliance, Thomson Reuters. "Even more powerfully, clients are now connecting their operational risk, audit, and compliance efforts to enable them to better understand the challenges and complexity their organizations are facing today. We continue to work closely with our clients to help them achieve their GRC vision. We are extremely proud to receive this further recognition for our work in the operational risk space."
The recognition comes on top of Thomson Reuters being named as a category leader in the Chartis RiskTech Quadrant™ For Operational Risk Management Systems, category leader in the Chartis RiskTech Quadrant™ for Enterprise Governance, Risk and Compliance Systems and being positioned by Gartner, Inc. in its Leaders Quadrant of the "Enterprise Governance, Risk and Compliance Platforms Magic Quadrant.
The Operational Risk and Regulation Awards celebrate achievements in the area of operational and regulatory risk management – and, for the first time this year included not only operational risk practitioners, but also the service providers and software suppliers who support them.
Thomson Reuters Accelus dynamically connects business transactions, strategy and operations to the ever-changing regulatory environment, enabling firms to manage business risk. A comprehensive platform supported by a range of applications and trusted regulatory and risk intelligence data, Accelus brings together market-leading solutions for governance, risk and compliance management, global regulatory intelligence, financial crime, anti-bribery and corruption, enhanced due diligence, training and e-learning, and board of director and disclosure services.
