White paper on outsourcing and risk management
Extended Enterprise Data Management
As the drawback of outsourcing and insufficient risk management have been highlighted by the financial crisis, regulators and clients are increasing the pressure on financial institutions to improve their risk management processes. To maintain or regain competitive edge, global investment management companies will have to comply with extensive legislative requirements and make their risk management process transparent to clients and the public. Accordingly, the IT architecture of these institutions must be designed to meet these challenges.
The ‘Extended Enterprise Data Management’ concept allows investment management companies to improve their risk management processes in several ways. The concept enables institutions to meet the regulatory demands and to solve the problems with lack of transparency often seen in other enterprise architectures as the concept ensures that all the business functions work consistently on the same underlying data.
