Solution manages a complex array of operational and compliance risks more efficiently
ARC Logics, a Wolters Kluwer business, announced today that Aberdeen Asset Management PLC has selected its Sword software to manage risk at the enterprise level across Aberdeen’s global operations. Aberdeen is replacing its existing, internally-created enterprise risk management (ERM) framework with the Sword solution, according to Audrey McNair, Aberdeen’s global head of Business Risk.
“While our current risk management methodology is very effective, it’s clear the Sword system will help us manage a complex array of operational and compliance risks even more efficiently,” said McNair.
The Sword solution provides Aberdeen with a comprehensive, yet easy-to-configure, system for measuring, monitoring and managing enterprise risks. Sword’s flexible framework allows for the identification and classification of individual risks and includes integrated tools for the measurement and monitoring of risk levels. It also includes easy-to-use reporting and workflow functions to assist in risk management across the entire organization.
“We’re quite excited about the ability to utilize Sword to create key risk indicators and measure risk-related events against them through comprehensive scorecards,” said McNair. “The Sword system allows us to create scorecards quickly and produce detailed reports to present to executive-level management.”
“Aberdeen Asset Management is truly a leader in proactively addressing emerging concerns surrounding enterprise risk management,” said Seamus O’Farrell, managing director for Sword. “We’re proud to have Sword be an integral part of their efforts to do so.”
Well over 3,000 financial services professionals in Europe, North America and Asia Pacific utilize the Sword ERM software along with its related consulting services to achieve a comprehensive view of operational risk and compliance in conjunction with audit activities.
In the U.S., the Sword solution is also part of Wolters Kluwer Financial Services’ enterprise risk management offering, ARC Logics for Financial Services.
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About Aberdeen Asset Management PLC
Aberdeen Asset Management is an independent asset management group with 31 offices around the world and has been listed on the London Stock Exchange since 1991. The Company was originally founded in Aberdeen, Scotland in 1983. Aberdeen invests worldwide on behalf of clients globally across the four major asset classes of equities, fixed income, property and alternatives. Today the Company has assets under management of £170.9 billion (as at 31 March 2010).
ARC Logics is a provider of proven audit, risk and compliance software solutions, information and services that enable organizations to rapidly address evolving audit, risk and compliance issues. ARC Logics combines both solution-specific and enterprise integration to help legal, compliance, enterprise risk, operational risk, finance and audit departments within an organization meet their unique risk management needs, while building a holistic, enterprise-wide program. The organization’s prominent brands include: TeamMate, Sword and Axentis.