BBA’s Gen-AI Powered ERM Solution
Backed by cutting edge Machine Learning algorithm and extensive data insights, BBA provides financial, enterprise and model risk management Software as a Service (SaaS) for financial services organizations globally. Regardless of our clients’ strategic orientation, BBA’s mission is to safeguard the financial resilience of our clients using advanced solutions. The following is the modular overview of BBA’s solutions:
Figure 1: Modular overview of BBA’s SaaS platform
BBA’s end-to-end, cloud-native solutions are designed for Finance, Risk and Treasury functions with the following unique value propositions (UVPs):
- Monthly subscription licensing
- Transparent risk models
- In-built macroeconomic scenarios
- Visualization of the impact of risks on P&L, balance sheet and equity
- Measurement of risk-adjusted return for each loan and portfolio in the loan book
- Open-banking regulations-compliant solution
BBA’s gen AI powered ERM solution serves all lines of defense (LODs): business and operations, the compliance and risk functions, and audit. It is designed to provide automated reporting, improved risk transparency, higher efficiency in risk-related decision making, and partial automation in drafting and updating policies and procedures to reflect changing regulatory requirements.
It acts as a reliable and efficient source of information and reporting, enabling risk managers to make informed decisions swiftly and accurately.
Key modules include:
- Control Failure and Internal Loss Event Data Collection: Maintain a record of operational losses and near misses. Map the risk ownership with controls, policies and contingency plans. Maintains a robust reporting of risk failures
- Scenario Design: Develop blue ocean thinking to develop adverse scenarios, integrate with contingency plan and project management framework
- Gen AI virtual expert: Gen AI virtual expert raise potential red flags based on access to market news, asset prices, climate risk assessment, cyber vulnerabilities and more to influence risk decisions. It also automates checking of regulatory compliance and provide alerts for potential breaches.
BBA’s ERM solution facilitates better coordination between the first and second LODs in the organization while maintaining the governance structure across all three. The improved coordination enables enhanced monitoring and control mechanisms, thereby strengthening the organization’s risk management framework.