Infosys's Integrated Risk and Performance Management (IRPM) Framework: How does it help you?
Infosys has developed an Integrated Risk and Performance Management (IRPM) Framework designed by SMEs in Financial Risk Management.
IRPM
• Uses an integrated Financial Services Data Model built on Built on leading Oracle Fusion technology and middle ware.
• Puts in place a modular approach for different risk calculation models, enabling plug-and-play modules at different places in the overall risk management solution
• Ensures flexible and speedy computations and real-time internal reporting to analyze key risk indicators (KRIs)
• Serves as a single source to all external reporting needs of regulatory submissions, inputs to rating agencies and quarterly results to shareholders and the market, as also internal reporting needs
• Transforms compliance programs into a source of competitive advantage while minimizing the Total Cost of Compliance (TCC)
• Infosys' IRPM creates an integrated and forward-looking solution with a common language of risk by utilizing scalable, flexible and unified metadata, sharing computation across different analytics applications, and harnessing best-of-breed reporting capabilities.
Utilizing OFSAA as the underlying foundation, IRPM empowers financial firms by ensuring in-time availability of risk adjusted performance measures both top-down and bottom-up, for the existing portfolios and on a 'what-if' basis using stochastic modeling such as Monte Carlo simulation. It involves the simulation of input variables like interest rates, exchange rates, yield curves, cash flows, prepayment, etc.
IRPM benefits to client include
• Higher business value - from real-time intelligence, optimal risk taking and enhanced predictive capabilities
• Tailored to business needs incorporating best practices from Infosys' strong array of service offerings in banking
• Sharing of data and calculation across applications - The IRPM architecture actively interacts with functional processes such as financial accounting, planning and forecasting. It lowers data inconsistency and reduces the need to maintain multiple data marts, thereby creating a singular approach to analytics.
Infosys being One of the top 5 Global SI Partners of Oracle apart from being Fusion Strategy Partner, is uniquely placed to help brings best of both Infosys and Oracle in this field.
To reduce in "Time-To-Production", IRPM Center of Excellence (CoE) has developed following deployment accelerators & reusable product components i.e. Training & Enablement Methodology, Testing Framework, OFSAA Rules - Business Validation Services, OFSAA Case Management - Validation Services and OFSAA - ITIL Based maintenance Framework.
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