Fusion Risk Management, a leading provider of operational resilience, risk management, and business continuity software and services, today announced an integration with Unified Compliance Framework (UCF) and enhanced compliance capabilities for the financial services and insurance sectors.
The integration and extended offerings empower organizations to be more compliant with existing, supporting, and emergent operational resilience regulatory standards.
March 31, 2022, marked the deadline for firms to identify and map their important business services, set impact tolerances and initiate a scenario testing program in accordance with the new Bank of England, PRA, and FCA regulatory requirements.
Fusion has worked directly with more than 200 financial services institutions and insurance firms to help them meet and exceed the new regulatory standards by introducing additional service offerings and product enhancements, including its scenario testing functionality, Operational Resilience Self-Assessment, and new educational programs for clients. For more than 15 years, Fusion has remained a trusted partner delivering best-in-class service to help organizations navigate complex and evolving regulatory requirements.
Fusion’s financial services and insurance solutions support the Bank of England/PRA/FCA guidance through a community-designed platform that:
- Maps all critical business services and identifies priorities of focus
- Automates leading indicators of risk, sets impact tolerances, and alerts risk teams when change occurs that needs attention
- Provides test scenarios and response plans, helping your team understand dependencies, uncover gaps, mitigate threats, capture opportunities and dynamically manage whatever disruption comes your way
- Delivers personalized experiences to better engage the organization and allow for streamlined data collection and evidence gathering
- Helps identify critical regulations and standards, populate control frameworks, manage changes to regulations, and seamlessly demonstrate compliance
The Fusion – UCF partnership offers the financial services and insurance industries the tools they require to manage the most direct and urgent regulatory burdens related to operational resilience. Through the partnership and enhanced compliance offerings, Fusion customers can access tools to enable control mapping, workflows, change management, audit support, action plans, dashboards, and data modelling to track and create actionable strategies aligned with current and upcoming standards to ensure compliance. The partnership and enhanced offerings empower a data-driven approach to compliance.
For more information, visit www.fusionrm.com.
Read the full announcement here.