Consul Launches Basel II Compliance Management Module for Consul Insight Security Manager.HERNDON, Va. -- Dramatically Reduces the Time, Human and Financial Investment Required to Achieve Security Audit and Compliance Management Consul risk management, a renowned expert in enterprise security audit and compliance solutions, today announced the launch of its Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations Regulatory Compliance Management Module (Basel II Module) for its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. Consul InSight Security Manager (InSight). InSight enables security audit and compliance management by: viewing the activities of both "trusted" users and intruders; monitoring technologies, including security devices, applications, databases, operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. ; and incorporating the generation and enforcement of security policies. The Basel II Module is the latest addition to a family of Regulatory Compliance Management Modules which include: ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 17799, Gramm-Leach-Bliley, Sarbanes-Oxley and HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, . Compliance with Basel II involves measuring many risk factors, including credit, market and operational risks, with anticipated positive effects on reliability and the public image of banks and insurance firms. Under Basel II, financial institutions are required to establish capital reserves of between 8 and 18 percent for unforeseen risks. Institutions that approach operational risk management using the Advanced Measurement Approach (AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ) are allowed to maintain smaller capital reserves, a clear business advantage specifically when the majority of executives expect the business costs of regulation to rise over the next few years, becoming a significant threat to business. Measuring and reporting on IT security is key to meeting the AMA. The Basel II Module measures and reports on the interaction of the key aspects of operational risk - people, information, systems and processes. Acting like a security auditor, the Basel II Module delivers regulation-specific, out-of-the-box policy templates, a dashboard and dozens of reports specifically tailored for security auditing and management activities vital to compliance with Basel II. "Basel II aims to reward best-practice risk management as a means of compliance. Consul InSight is one of the industry's first solutions addressing the intersection of audit and policy compliance efforts with information security and operational risk. Consul offers countless organizations an indispensable, solid base for auditing internal activities and compliance initiatives," said Joseph Sander, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Consul. "With the Basel II Regulatory Compliance Module, users can employ our proven, user-friendly technology to dramatically reduce the time, people and financial investment required to achieve compliance and enable security best practices." Availability The new Basel II Compliance Module for Consul InSight Security Manager is generally available. About Consul risk management, Inc. Consul risk management, Inc., a renowned expert in security audit and compliance solutions, delivers to the market The InSight Required(TM) for sound compliance, security event management, and identity and access management initiatives. With its roots as the premier provider of mainframe administration and audit products, Consul's enterprise solutions monitor, report and investigate both malicious and accidental violations of information use against external regulations and internal policies. Consul has more than 350 customers in nearly two-dozen countries, including the Philadelphia Stock Exchange Philadelphia Stock Exchange (PHLX) A securities exchange trading American and European foreign currency options on spot exchange rates. , Fidelity Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Kroger, Wachovia, The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times, Blue Cross/Blue Shield, Office Depot, Ford and many government agencies. Consul has dual headquarters in the United States and The Netherlands and is represented by 25 partners worldwide, including BMC Software. For additional information about Consul and its products, services and partners, please contact Consul at 1 800.258.5077 or +31 (0) 15.251.3333 (Worldwide), or at www.consul.com. |
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