# Thomson reuters builds out its award-winning connected risk platform with risk management solution providing a personalized enterprise-wide view of risk Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-02-16 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Thomson Reuters Launches Flexible Risk Management Solution Meta Description: Discover a holistic approach to risk management with Thomson Reuters, providing bespoke solutions for financial and corporate sectors. Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/thomson-reuters-builds-out-its-award-winning-connected-risk-platform-with-risk-management-solution-providing-a-personalized-enterprise-wide-view-of-riskhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd160218-1-1-1736842976610-compressed.jpg) _Manages disruption and embraces risk through a flexible risk management solution configured to a firm’s specific methodology and business strategy_ Demonstrating its commitment to deliver a comprehensive suite of next-generation integrated risk solutions to assist the global financial and corporate communities, Thomson Reuters has further expanded its Connected Risk platform to include a commercialized Risk Management (RM) solution to help new customers develop more holistic, effective risk management programs aligned with their risk methodology and business strategy. Financial services and corporate sectors today remain challenged with finding a solution that encompasses an enterprise-wide view of risk management, instead of accepting a solution that only addresses a subset of enterprise risk management (ERM), such as operational risk, regulatory risk, legal risk, tax risk, settlement risk, model risk, and other non-financial risks. Thomson Reuters [Risk Management](https://www.financedigest.com/strategies-banks-use-to-manage-liquidity-risk.html "Strategies Banks Use to Manage Liquidity Risk"), the latest solution on the Connected Risk platform, assembles all these forms of risk to deliver a holistic ERM view that delivers the connectivity and insights necessary for better-informed decisions that are aligned with agreed-upon business and risk strategy. “With the increased and ongoing rate of business-operations change, a comprehensive and effective [risk management](https://www.financedigest.com/improving-risk-management-in-the-insurance-industry.html "Improving risk management in the insurance industry") solution is no longer a nice-to-have option. It has become a necessity for our customers in order to know and optimize their total [risk parameters and opportunities,” said Gareth Evans, managing director, Enterprise Risk Management](https://www.financedigest.com/early-detection-of-mismatched-trades-is-key-to-managing-risk-and-maximizing-profits-on-the-pl-desk.html "EARLY DETECTION OF MISMATCHED TRADES IS KEY TO MANAGING RISK AND MAXIMIZING PROFITS ON THE P&L DESK") at Thomson Reuters. “Our Risk Management solution not only helps save time and lowers costs, it also allows financial services and corporate customers to tailor their own risk solutions on our platform or take our out-of-the-box risk solution and refine it to meet their specific needs. This bespoke, holistic approach embodied in our Connected Risk platform is designed to help our customers better manage the unprecedented volumes of regulatory [change and operational complexity they face](https://www.financedigest.com/the-changing-face-of-financial-advice.html "The changing face of financial advice ") daily.” Will Jan, vice [president and lead](https://www.financedigest.com/moderate-bosniak-candidate-leads-in-race-for-presidency-seat.html "Moderate Bosniak candidate leads in race for presidency seat") analyst at Outsell, commented: “Effective risk management requires accountability. Identifying sources of risk is only part of the equation. Knowing who will execute the mitigation or remediation plan is [critical in ensuring business](https://www.financedigest.com/marketing-communications-is-a-business-critical-pillar-now-and-in-a-post-pandemic-future.html "Marketing Communications is a business-critical pillar now – and in a post pandemic future") continuity. It is therefore important to maintain a holistic [approach](https://www.financedigest.com/demystifying-us-feds-approach-on-systemic-climate-risk-stress-testing.html "Demystifying US Fed’s approach on Systemic Climate Risk Stress Testing") to identifying enterprise risk in order to minimize risk silos, while emphasizing that the information needs to be in the context of the stakeholders’ workflow to ensure swift execution of corrective measures.” [Thomson Reuters](https://www.financedigest.com/thomson-reuters-lifts-sales-outlook-on-back-of-earnings-beat.html "Thomson Reuters lifts sales outlook on back of earnings beat") Risk Management provides a holistic approach to risk management, enabling teams to track various forms of risk across their organization, using a single solution that fosters better-informed decision making and optimizes risk management to deliver a competitive advantage. The Risk [Management solution works](https://www.financedigest.com/new-research-suggests-over-13-million-brits-were-inadequately-managed-while-working-remotely.html "NEW RESEARCH SUGGESTS OVER 13 MILLION BRITS WERE INADEQUATELY MANAGED WHILE WORKING REMOTELY*") around individual organizational needs and is highly configurable, molding itself to meet specific requirements. A flexible assessment engine uses dynamic [building blocks](https://www.financedigest.com/innovation-to-be-a-building-block-of-the-automotive-glass-market.html "Innovation To Be A Building Block Of The Automotive Glass Market") that take into account the unique methodology of each individual customer and powerful data mapping capabilities to draw on many sources of data when completing the assessment. A full history of a customer’s risk profile is tracked and is reportable through an [integrated reporting engine](https://www.financedigest.com/white-bullets-integration-with-silverbullets-next-generation-context-outcomes-engine-4d-is-now-live.html "White Bullet’s integration with Silverbullet’s next generation Context Outcomes Engine, 4D, is now live"). For more information on Thomson Reuters Risk Management, please visit: [https://risk.thomsonreuters.com/en/products/risk-management.html](https://risk.thomsonreuters.com/en/products/risk-management.html) Thomson Reuters formally [launched the Connected Risk platform](https://www.financedigest.com/exclusive-tp-icap-to-launch-crypto-trading-platform-with-fidelity-standard-chartered.html "Exclusive: TP ICAP to launch crypto trading platform with Fidelity, Standard Chartered") in Q1 2017. Connected Risk allows [customers and partners to tailor an array of solutions to meet](https://www.financedigest.com/meeting-customers-where-they-are-through-financial-inclusion-and-hyper-personalization.html "Meeting Customers “Where They Are” Through Financial Inclusion and Hyper-Personalization") both the varied and collective needs of the risk community. Deployment can be accelerated through use of configurable out-of-the-box [solutions that Thomson Reuters has developed in conjunction with customers and advisory firms](https://www.financedigest.com/schlumberger-subsea-7-and-aker-solutions-to-form-subsea-engineering-firm.html "Schlumberger, Subsea 7 and Aker Solutions to form subsea engineering firm") for the most popular risk use cases. Solutions released recently include [Model Risk Management](https://www.thomsonreuters.com/en/press-releases/2017/december/thomson-reuters-expands-its-award-winning-connected-risk-platform-with-model-risk-management-solution.html), which helps institutions to demonstrate a real-time understanding of their model risk landscape, and [Audit Management](https://www.thomsonreuters.com/en/press-releases/2017/october/thomson-reuters-expands-its-award-winning-connected-risk-platform-with-audit-management-solution.html), which enables firms to better assess risks and increase the efficiency of the auditing process. Other solutions include the [2017 SIIA CODiE Award](http://www.siia.net/codie/About-the-Awards/Past-Winners/2017-Winners) **–** winning [Regulatory Change Management](https://www.thomsonreuters.com/en/press-releases/2017/january/new-thomson-reuters-compliance-solution-helps-organizations-manage-regulatory-change.html) (RCM) which informs and manages regulatory change processes and is integrated with our Regulatory Intelligence feed. For more information on Connected Risk, please visit: [https://risk.thomsonreuters.com/en/products/connected-risk-platform.html](https://risk.thomsonreuters.com/en/products/connected-risk-platform.html) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---