从合规及风险管理中获得竞争优势外文翻译.docVIP

外文翻译 原文 Gaining Competitive Advantage from Compliance and Rick Management Material Source: From Strategy to Execution Author: Amit Chatterjee and David Milam INTRODUCTION Risk management has been around for decades in ?nancial services, using highly evolved risk modeling and analysis to manage market and credit risk.Risk is generally de?ned as the potential for loss caused by an event – or series of events – that can adversely affect the achievement of company objectives. However, organizations are realizing that effective risk management can create opportunities as well as mitigate problems. In other words, a successful risk management philosophy focuses not only on risk avoidance and protecting existing assets, but also on enhancing future growth opportunities and creating competitive differentiation.Unfortunately, many organizations fail to fully achieve these risk management bene?ts. The greatest threats to a company can arise when multiple risk factors combine to blindside management – often with disastrous results. How can you avoid such disasters? By automatically identifying and monitoring top enterprise risks, giving lines of business (LOB) the tools to effectively mitigate risks, and presenting risk in the context of corporate strategy and performance. With this approach, you provide executives with a clear understanding of the most important – and potentially damaging – risks your company faces. GOVERNANCE, RISK, AND COMPLIANCE: WHY A HOLISTIC APPROACH WILL HELP Many companies react tactically to the growing demands of regulatory agencies, stakeholders, and even customers. Unfortunately, this tactical response – which often includes extensive manual effort and one-off compliance solutions – is costly and becoming even more expensive. AMR Research reports that companies will spend $29.9 billion in 2007 alone for GRC-related activities – up 8.5 percent from the previous year. Approximately two-thirds of this cost is in people – because fragmented GR