Celent, a financial research and consulting firm and part of the Oliver Wyman Group, recently launched a new research service: Finance, Risk and Compliance (FRC). The research service aims to deliver the latest thinking and insights around issues of strategy, operational practices, and technological underpinnings to achieving high-performing finance, risk, and compliance functions.

Celent's research and advisory service will help financial institutions and technology providers stay abreast of industry trends, seize opportunities, and monitor the playing field.

The first report in the service, Beyond Basel II: Evaluating the Financial and Credit Risk Solution Vendors 2008, was released in mid-April.

"Market dynamics and regulatory trends are driving firms towards improving the way they examine, measure, and manage risk," said Cubillas Ding, a senior analyst with Celent's Securities & Investments Group. "We are seeing a competitive impetus to embrace advanced risk practices and to achieve risk-adjusted performance measures."

Changing stakeholder expectations, product complexity, and expansion opportunities are not only changing the way institutions manage risk but also aligning risk activities with finance, capital management, and compliance functions. At the same time, regulatory fatigue from risk and compliance initiatives over the past few years has resulted in pressures to reduce costs associated with compliance, both IT and non-IT. How can these strategic objectives be achieved? What practices and technology should firms embrace? How should financial institutions formulate a coherent response?

“The most recent events in capital markets have shown that financial, risk and compliance management are the cornerstones of a healthy financial environment. The combined strengths of Celent and Oliver Wyman should make this new research offering essential for firms navigating the landscape of regulations, finance and risk practices, and technologies,” said Dr. Mayiz Habbal, Senior Vice President of Celent’s Securities & Investments Group.

Celent's new research service will delve further into issues of finance, risk and compliance with a series of reports, each including analysis and valuable advice for financial institutions and vendors exploring the industry. It will combine a unique proposition of research, practical implementation insights, and collective best practice intellectual capital from Celent and Oliver Wyman.

The initial reports to be published under this service are to include:

• Streamlining Controls Functions: Solid and Lean
• Model Validation Best Practices
• Collateral Management
• Liquidity Management

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