What are the best risk analytics tools for ERM in the banking sector?
Enterprise risk management (ERM) is a holistic approach to identifying, assessing, and managing the various risks that a banking organization faces in its operations, products, and services. ERM helps banks to align their risk appetite with their strategic objectives, optimize their capital allocation, and enhance their resilience and performance. To implement ERM effectively, banks need to use advanced risk analytics tools that can provide them with timely, accurate, and comprehensive insights into their risk exposures, scenarios, and mitigation strategies.