When you have to be right

GRC

OVERVIEW BROCHURE

In response to today’s demanding economic and regulatory climate, many

financial services firms are transforming operations to enhance performance while

driving down costs and flattening investment. Forward-looking organizations are

rethinking their business models with an eye on embedding strong governance, risk

management, and compliance (GRC) mandates.

Added pressure to reduce cost and drive efficiencies has also prompted many firms

to revisit risk and control oversight functions with an emphasis on identifying and

breaking down unnecessary silos and improving leverage.

This requires a more strategic look at oversight functions, such as compliance,

internal audit, SOX, or operational risk management, and creates a taxonomy and

common risk and control language to improve risk coverage, while maximizing the

leverage of information and resources.

Firms across the globe are implementing solutions like OneSumX GRC from

Wolters Kluwer Financial Services to obtain a single view of risk that is articulated

across the entire organization, providing a common language, approach, and

methodology for risk management. With a centralized platform for monitoring,

measuring, and managing risk, firms strengthen governance processes and facilitate

effective and inclusive risk reporting to management and the Board to help meet

global compliance within the organization’s risk management mandates.

This single view of risk allows the oversight functions to better leverage risk

information and rate issues using a common vision. With greater visibility and

control over risk across their business, organizations can gain a real competitive

advantage, enabling them to make business decisions in alignment with their

strategic objectives and risk tolerance.

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Risk management: Supports risk management professionals with documentation, workflow, assessment and analysis in terms of business impact, reporting, visualization and remediation of risks. Supports business planners and analysts with analysis of risk-adjusted performance. The risk management component is generalized and can be applied to several risk management use cases, such as IT risk management and operational risk management; however, it may collect data from specialized risk analytics such as credit risk and market risk management tools to provide a consolidated view of ERM.

Compliance and policy management: Supports compliance professionals with the documentation, workflow, reporting and visualization of controls objectives, controls and associated risks, surveys and self-assessments, attestation, testing, and remediation. Includes a specialized form of document management that enables the policy life cycle from creation to review, change and archiving of policies; the mapping of policies to mandates

and business objectives in one direction, and risks and controls in another; and the distribution to and attestation by employees and business partners.

Regulatory change management: Supports the ability to respond to changes in regulations. When a rule is changed or a new one emerges, it enables a business impact analysis and supports the management of the changes to related processes, controls, risk assessments, rule books and policies.

Incident management: Is used to track the occurrence and resolution of incidents, completely documenting investigations into legal matters and regulated activities. These tools may also be used to manage the resolution of significant audit findings and risk and control failures.

Audit management: Supports internal auditors in developing the long-range audit plan, planning and executing individual audits, scheduling audit-related tasks, and managing work papers, time management and reporting.

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OneSumX GRC links compliance and risk functions improving the speed

and quality of compliance activities. Firms will have an enterprise-wide

view of compliance needs and controls.

OneSumX GRC increases control over

risk and visibility through linkages

to the key functions of GRC: risk

management, compliance and policy

management, audit, regulatory

change management, and incident

management.

To provide a single view of risk, firms must have a complete view of their data.

OneSumX GRC is a unique solution that not only aggregates risk assessment

data for analysis and insight, but also automates risk discipline workflows so that

processes are synchronized and standardized.

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It combines regulatory intelligence and financial analytics with efficient policy, procedure and process management capabilities giving organizations the increased transparency and control they need.

Senior executives are provded with a cross-silo view of risk through high-level reports, interactive dashboards and multi-

risk discipline support. OneSumX GRC is leveraged to support decision making and resource allocation. At the same time OneSumX GRC can make it easy for department managers and operational units to enter the information that drives those decisions, from simple risk assessments to control attestations and testing.

OneSumX GRC:

■■ Enables employees to raise issues or identify risks for discussion and report on monitoring and performance of controls

■■ Provides visibility into past assessments, issue resolution and historical trends, so managers can accurately assess the likelihood of an event and its potential impact

■■ Streamlines the assessment process and standardizes terminology, scoring and weighting systems

■■ Eliminates redundancies among risk disciplines, enabling business lines to describe risks in similar ways

■■ Centralizes the library of information, regulations, policies and procedures for a single source of truth

■■ Creates complete views of risk data at all levels—enterprise, operational and compliance

■■ Fosters intelligent decision making with accurate, timely and relevant risk assessment and analysis

Many firms looking to purchase GRC technology will not immediately implement a full GRC program. These firms will prioritize and implement the most relevant and needed components at the time and then adopt additional elements as their GRC program matures.

OneSumX GRC has full end-to-end functionality for governance, risk and compliance needs, but is modular so firms can license and implement only those that are needed. The full suite of OneSumX GRC offerings provides a roadmap for organizations as they continue to develop a robust GRC infrastructure.

The depth of financial services content makes OneSumX GRC unique. With hundreds of experts across the globe monitoring the financial regulatory landscape, organizations receive the latest content and functionality based on best practices and the unique, prescriptive requirements of the financial services industry.

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OneSumX GRC addresses today’s challenges:

■■ Complaint Handling

■■ Compliance Program Management

■■ Conduct Risk

■■ Employee Compliance

■■ Enterprise Risk

■■ Financial Crime Governance

■■ Operational Risk

■■ Policies & Procedures

■■ Regulatory Change Management

■■ Regulatory Intelligence

■■ Internal Audit

OneSumX GRC combines proven technology, regulatory content and the deep expertise of Wolters Kluwer Financial Services. It is a robust GRC set of solutions helping firms to efficiently measure, monitor and manage compliance, operational and enterprise risk. It provides a single view of risk and the full governance suite includes a regulatory library for regulatory content, policy and procedure management, risk and control management testing and a streamlined method for managing the internal audit process.

With OneSumX GRC, firms receive more than software. They acquire access to a global consulting practice and regulatory content based on the deep-rooted financial services expertise of Wolters Kluwer. When financial organizations are reviewing their GRC choices, many place OneSumX GRC by Wolters Kluwer Financial Services at the top of the list for the following reasons:

■■ Experience: Focused soley on supporting financial service firms across the globe

■■ Speed to Deployment: Best practices to streamline the implementation process and meet highly aggressive deployment schedules

■■ Regulatory Support: Ongoing support and expertise to address increasingly complex regulatory requirements

■■ Unique Data Model: Through a single data repository, immediately see all related activities and information related to each specific regulation and each applicable business line

■■ Scalability: Deploy additional functionality as necessary, based on future needs

■■ Open Standards: Unparalleled ability to integrate with third-party providers and existing systems

■■ Proven Ability to Deliver: A successful track record meeting all commitments and obligations on time and within budget

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Wolters Kluwer Financial Services delivers GRC

solutions, content and expertise to financial

institutions worldwide. We provide regulatory

control, operational savings and improved decision

making insights that will ultimately provide stronger

performance and improved margins.

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Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, GainsKeeper®, NILS®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services

is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

© 2014 Wolters Kluwer Financial Services, Inc. All Rights Reserved.

ABOUT WOLTERS KLUWER FINANCIAL SERVICES

Please visit WoltersKluwerFS.com for more information.

When you have to be right