What is Risk and How Can Your Data Support You?

We all know only too well the risks faced by businesses on a daily basis. The forms these risks take can vary from business to business, and from department to department, but you can rest assured they’re present...

Risk management is fundamental in today’s environment. Whatever form it takes, your organisation needs to ensure its risk management frameworks are comprehensive. Whilst your organisation no doubt already has various forms of risk management in place, can you be sure that they’re as effective as they should be?

What can cause risk?

Risk can be caused by any number of factors and there is no easy fix - it takes time, careful monitoring and organisation-wide processes to effectively minimise risk. Symptoms of risk may include human error, model degradation over time, hackers, fraudulent claims, etc.

What threats can risk pose?

Poor management of risk can lead to serious implications, such as financial loss, regulatory non-compliance penalties or reputational damage.

Empower future insight by learning from past losses

Did you know, SAS has a whole suite of solutions that help organisations maximise the effectiveness risk management processes to ensure governance and compliance for the future.

Unsure how to better manage your business risks?

In a short series of blogs and resources, we’ll be exploring two of these solutions and other key considerations associated with business risk. Take a look from the list below and help yourself to the insight within:

• FAQs behind risk changes in the financial industry
• Overcoming model degradation to ensure your decisions are futureproof
• White Paper: "The Future of Model Risk Management for Financial Services Firms"
• Ensuring governance and compliance
• The future of model risk management for financial services firms

For more information on risk and governance in the financial sector, click here.