Protiviti Boosts Operational Risk Offering
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Protiviti has teamed up with RiskBusiness to boost its offering on programs for operational risk. Basel II and other compliance requirements are the business drivers. RiskBusiness will provide Protiviti with its Key Risk Indicators for the ORM Portal. The key risk indicators are used by financial services firms as part of their risk management activities. Protiviti has enhanced its Operational Risk Management (ORM) Portal(TM) with a feature set of key risk indicators that will provide clients with the capability to identify, measure, monitor and report on prioritized risks, and track performance of business processes and related controls In addition to helping financial institutions comply with the operational risk requirements of the Basel II Accord, the enhanced ORM Portal v2.1 will support nonfinancial clients' Sarbanes-Oxley compliance and enterprise risk management efforts through ongoing monitoring of business processes, controls and performance. "We're pleased to offer a complete solution that addresses operational risk, facilitates a sustainable Sarbanes-Oxley compliance program and supports our clients' progress toward achieving their enterprise risk management goals, said Scott Gracyalny, Protiviti managing director and leader of the company's risk technology solutions. "Combined with our advisory consulting services, we deliver a solution that will help our clients drive performance toward business objectives, manage their associated risks, and monitor control effectiveness." Additionally, key risk indicator measurements can be tracked and managed by client-specific criteria as well as standard industry definitions to enable reporting in client-specific context while supporting future benchmarking exercises. "Protiviti's support for the KRI Library will deliver direct value-add to their client-base," said Mike Finlay, managing director at RiskBusiness International. "As more banks and insurance firms recognize the value of standardized indicators and the benefits of benchmarking their own indicator values against their peers, the online access and reporting functionality provided by the ORM Portal will be a crucial differentiating factor to KRI Library subscribers."
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