established methodology and models, the models being generally accepted by the regulators
established out of the box reporting
commonality in data semantic
pre-built data adapters
benefit from enhancements at other clients
predictable implementation time, with experienced system integrators implementing repeatable approaches
There is a significant portion of the market which chooses to build bespoke Risk Management systems and there are other advantages to that approach, but they are out of scope for this document, the purpose here being to offer some insights into the selection of software packages.
Since the financial crisis of 2008, risk has driven the major investment decisions and it is now apparent that the selection of an appropriate risk system is critical to the success of a financial institution. Excelian as part of their Advisory capability within their Risk and Regulation service offering have; assisted a number of banks in choosing an appropriate risk platform, have exposure to a number of risk vendor technologies and as such are ideally placed to highlight the top six criteria a wholesale bank should consider when choosing a risk management system.