Enterprise Risk Management

Many modern reporting requirements are driving towards better risk based capital requirements which are more representative of the risks individual insurers are facing. This has, either directly or indirectly, focused the attention of insurance companies on to embedding the assessment of that risk into their business management decisions.

An end-to-end Enterprise Risk Management (ERM) system needs to provide solid tools covering each of the stages from data extract, through calculation and aggregation, into data warehousing and business intelligence reporting and dashboarding. The need for control and auditability at each stage of the process points to the need for an integrated business process management tool which monitors and controls each step of the process.

SunGard offers the tools and professional services required to deliver you the robust enterprise risk management environment your business demands.

For the actuarial components of the calculation, Prophet’s powerful functionality delivers many of the key components, and is scalable from desktop to enterprise application. Key components supporting this include:

• The supplied ETL tool, bringing in data from a variety of sources
• Models optimised on both the calculation requirements and the features of the data
• Enterprise scalable calculations across large grids
• Secure and auditable roles-based production environments

Together these bring the control, auditability, resilience and power needed by large organisations to deliver the regular risk-based calculations in a timely yet reliable fashion.

Further details of specific functionality relating to Enterprise Risk Management can also be found in the sections on Solvency II and Proxy Modelling