For many Financial Services firms, the Risk & Control Self-Assessment (RCSA) process is a core part of their risk management activities.
The Risk & Control Self-Assessment is regarded by many as industry best practice and is widely supported by regulators, the risk community and many executive teams.
However, speaking to those involved with the process; in both the 1st and 2nd lines of defence, it is clear that this process does not always deliver the value expected. Some firms have stated they feel like something is missing from the process. In this blog, I will explore if that ‘missing something’ is Risk Velocity.
KRM22’s Global Risk Platform provides applications to help you address your firm’s regulatory, market, technology and operations risk challenges and to manage your entire enterprise risk profile. KRM22 is a public Group listed on AIM and headquartered in London.