Celent Releases Two Related Reports Focused On Operational Risk

Amid a regulatory environment has deadlines for a series of new requirements fast approaching, many institutions say they have been left wondering how to make sense of the regulations nuances. Celent released two related reports Monday designed, the company says,

By None

Amid a regulatory environment has deadlines for a series of new requirements fast approaching, many institutions say they have been left wondering how to make sense of the regulations nuances.

Celent released two related reports Monday designed, the company says, to assess the dynamics of the industry’s regulatory environment.

“Operational Risk Management: Three, Two, One… and Liftoff?” and “Operational Risk Management: Are Vendors Ready To Launch?” offer Celent’s assessments of the progress of compliance efforts, investment priorities and solution strategies.

The reports also make recommendations for operational risk and compliance management.

Celent predicts that as more and more companies turn to upgrades in risk management software, the resulting niche operational risk and compliance market will see growth nearing $1.16 billon by year’s end in 2009.

Risk-driven regulatory initiatives, including Basel II and the Sarbanes-Oxley Act, have gained momentum recently, Celent says, propelling new management practices to the forefront and giving rise to changes in security, fraud, anti-money laundering efforts, data/document management, financial reporting and compliance management.

«