Guest post from John Macdonald, Director, Products and Customer Solutions Group, IBM Risk Analytics
We at IBM Risk Analytics are excited to share that Chartis, the leading provider of research and analysis for risk management technology, has announced the launch of a two-year research program focused exclusively on the enablers for enterprise risk management. This research is being sponsored by IBM.
Eliciting input from leading organizations worldwide – over 50 have already confirmed participation – Chartis will study the key trends, best practices, challenges and priorities as they pertain to key enablers such as culture, organizational structure, data, systems and processes. The goal of the research is to help define what organizations need to do to align these dimensions in order to become truly risk enabled.
Chartis and IBM also hosted a webinar to kick-off this initiative, and I was pleased to take part alongside Peyman Mestchian, Managing Partner at Chartis Research. If you did not attend, I welcome you to take advantage of the replay.
During the webinar, Peyman made a particularly interesting comment – that organizations are in most cases either under-managing or over-managing risk, with a fixation on compliance rather than the benefits and the return on investment that can be achieved with risk management systems and programs.
IBM believes this is a fundamental challenge for our clients. Risk-enabled enterprises are markedly different than less mature peer firms in that they not only measure risk, but use risk intelligence to manage decision making, and in doing so are able to extract business benefits from investments mandated by regulation. We also believe that risk enablement is founded on trust – that is, trust in your systems and processes to deliver reliable insights that can help you make better business decisions at the right time.
Our clients understand that risk management is now an essential strategic function that provides competitive advantage to new and expanded stakeholder groups across organizations, and they are seeking IBM's expertise in helping resolve this challenge, with analytics technology that extends the traditional use of risk management into the business process, management systems and culture. It is our great pleasure to be working with Chartis to bring clients and industry leaders together to examine these challenges, and more importantly how to overcome them.
Despite the fact that IBM is the lead sponsor for this research, the ownership of the research process and content importantly lies entirely and independently with Chartis, and they will be eliciting input from all industry bodies, both on the demand side and supply side of the market. We look forward to participating in the research process, and to benefiting from its insights; however, we are committed to ensuring the research remains agnostic.
We view this as an opportunity to help us better understand where the market is going, where key participants are seeking new capabilities, and where IBM can further invest in our solutions to help address these developments. And, we look forward to the first series of sessions and research activities as they kick off in the next quarter.
We will be speaking about this exciting initiative at Vision 2013, IBM’s premier global conference for finance, risk and incentive compensation professionals, on Monday, May 20th at 2:10 p.m. EDT. That session will be accessible via Livestream, and I invite you to join in and watch.
Chartis is actively seeking interested participants from across industries and roles for this research initiative. If you are interested in participating, please contact Sharon Davis at Chartis.
To learn more about IBM Risk Analytics, visit us at ibm.com/risk management, follow us on Twitter or check us out on YouTube.