'Operational Risk Management' market to hit $1.68 billion by 2013.Byline: news@cpifinancial.net (Staff Writer) Reflecting the projected global growth, the Middle East is also expected to witness an increase in demand for risk management solutions, based on market trends monitored by SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. , a provider of business advisory and analytical intelligence. The report cited several drivers of ORM ORM - Object Role Modeling growth, including the rising demand from emerging economies, especially in specific vertical segments such as insurance, asset and fund management, and brokerage dealership; and the significant strides being taken by public and private organisations in converging operational risk (OpRisk), enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ), and Governance, Risk Management and Compliance (GRMC GRMC Genesys Regional Medical Center (Grand Blanc, Michigan) GRMC Global Risk Management Solutions (PwC business unit) ). "With the growing number of financial institutions in the Middle East embracing the concept of systematic and continuous processes for collecting, analysing and reporting operational risks, we are gearing up to address the demand for OpRisk solutions that can help organisations deal with increased shareholder and regulatory pressures, and rising threats of losses," said Klaus Kristensen, Head of Risk Practice, SAS - Middle East. "Increasingly firms are working towards integrating ORM into their everyday business activities given the wide array of benefits it delivers, including loss reduction, capital savings, improvements in business planning and improvements in reputation/external communication. We are committed towards helping organisations in the Middle East strengthen their financial risk management and anti-money laundering infrastructure, and we plan to leverage all our resources in order for us to solve our customers' evolving needs in risk management," concluded Kristensen. 2009 CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I Financial. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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