IT for Risk and Compliance

Risk and compliance has become an increasingly critical issue since the recent financial crisis. Governments and industry regulators are becoming tougher with rules and penalties over breaches. For banks and insurance organisations especially, managing risk and meeting regulatory compliance is a now necessity as they are governed by numerous regulations around their capital adequacy and fraud prevention.

Knowing where to begin or even where to turn to can be a daunting task. At Northdoor, we believe that technology can play an instrumental role in helping companies manage risk and achieve, and demonstrate, compliance.

Take Solvency II in the insurance industry for example, meeting solvency standards require establishing accurate data, which historically could derive from varied legacy systems with inconsistent definitions, qualities, and data models. Furthermore, integrating trusted data into the business model and risk management system requires specialised knowledge and real-life experience in the industry. With over 20 years of experience, Northdoor is actively working with its insurance clients on their Solvency II requirements. And this is just one of the examples of how Northdoor can help you with your risk and compliance needs.

Leveraging extensive capabilities across consulting, enterprise infrastructure and IT support and managed services, Northdoor can be the strategic adviser to help you reduce risk and achieve compliance.

Specifically, we can help you:

• Understand the IT implications related to risk and regulatory compliance
• Assess your technology readiness to meet these requirements
• Design system and data architectures and implement the solutions
• Provide effective data management and systems documentation
• Identify data security and privacy needs and improve deficiencies if detected
• Provide IT project management and IT support services as part of the change management process
   

Read about how Northdoor’s Lloyd’s and FSA compliant system provide MAP the business intelligence required for running its business

Find out Why Northdoor is the strategic technology partner for you.

To know more about how Northdoor can help you meet risk and regulatory compliance, please contact compliance@northdoor.co.uk

If you enquiry is specific to Solvency II, please contact SolvencyII@northdoor.co.uk  

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