The types and complexities of risk managed by banks has multiplied since the financial crisis. Where once there was “just” credit and market risk, banks now are also managers of exposures related to compliance, environmental, IT, liquidity, operations, politics, reputation, etc. Enterprise governance, risk and compliance (EGRC) has become a major expense that must be addressed with a strategic, enterprise-wide approach that is effective yet cost effective.

Security through Innovation

We help our customers build a higher risk appetite and strengthen their risk management and compliance by providing them the right set of tools, best of breed solutions and sound practices. Detecting, measuring and minimizing risks via practice expertise and automation is our specialty. Whether you need to better monitor anti-money laundering efforts and comply with international regulations or gain better visibility into your overall risk situation, Polaris provides unparalleled guidance and technology.

Our 50+ dedicated risk and compliance consultants are subject matter experts, and are supported by more than 500 trained risk management technologists. All team members work together to make your systems smarter.

Full-Service Solutions

Polaris helps financial institutions manage their risks – mainly in the areas of credit, market, operational and IT – via consulting, integration and professional services. All client solutions are supported through a variety of proprietary frameworks and methodologies.

Proprietary Universal Database of Risk Data: Accelerates Time to Market and Your Savings

Powering many of our risk and compliance solutions is a proprietary repository of regulatory data unmatched in the industry. Polaris experts have identified and collated risk data elements from a diverse sample of 200 core reports to create a universal “regulatory database”. The unprecedented breadth and depth of this information is adaptable to address the various risk reporting requirements of global banks – with analyses configurable based on any number of characteristics.

The database covers the evolving regulatory reporting requirements of global regulations – including Basel III, CRD IV, Dodd-Frank, the Volcker Rule, etc., – as well as those set by the central banks of individual countries. Features and benefits include: Quickly highlighting regulatory compliance priorities, the database acts as an accelerator for teams involved in regulatory reporting implementation and enhancements. Its data is an ideal source for risk visualization, particularly dashboards. Once fully in place, automation of regulatory reporting reduces implementation timelines by 20-30% – while decreasing costs, as well.

Risk Visualization

Gain superior oversight with centralized views of aggregated risk data in real time, all presented in user-friendly formats – including dashboards, charts, diagrams and maps. Intuitive user interfaces – along with visual alerts in real-time – allows you to take quicker action with confidence.

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Risk Regulatory Reporting Framework

Polaris has developed a proprietary framework to help financial institutions manage their reporting needs more quickly and cost-effectively. This involves a unique “bottom-up” approach that measures risk at the levels of individual exposures, then moves up the hierarchy – rather than the other way as traditionally done.

First, we categorize data elements by risk type, e.g., credit, market, operational, etc., and identify the portfolios for which each risk type is to be measured. The risk data elements particular to a regulatory request then are aggregated via extraction, cleansing and filtering. Finally, comprehensive reports are presented at appropriate intervals for review and/or filing.

Basel & Dodd-Frank Regulatory Services

Given their significance, Polaris has developed a practice dedicated to these two major global regulations. Our solutions help you with optimizing capital and liquidity management, creating infrastructure for consolidating the appropriate data from multiple sources, performing stress testing, and managing required regulatory reporting.

Specific services offered either directly or in collaboration with third-party partners include integration, reporting, data management, product implementation, and application maintenance and production support. Benefits include seamless incorporation of solutions across various bank system components, improved compliance with regulatory requirements, more informed business risk decisions, and the ability to more easily adapt to new risk management tools and meet evolving business needs.

AML/Compliance Center of Excellence

The ever-increasing requirements surrounding Anti-Money Laundering and compliance have led Polaris to create a Center of Excellence dedicated to these areas. That allows clients to leverage the knowledge of our proprietary regulatory database, while also building customized components unique to your needs. Whether you desire a more efficient know-your-customer (KYC) process, want to improve the security of data privacy and transfer, or are seeking to reduce fraud losses, Polaris can assemble the right team of experts to help.

Partners in Anti-Crime

Together we deliver even more security for our clients.

  • Apama Streaming Analytics
  • CARE Kalypto
  • FINCAD
  • IBM Algorithmics
  • NICE Actimize
  • Numerix
  • Oracle Reveleus
  • SAS

Project Spotlight

- Created a single repository of risk results for a Top tier 1 European bank for performing risk analysis that reduced by 50% the time to generate reports, as well as improved overall team bandwidth by 10%. Additionally, more than 250 PDF reports were replaced by 26 intuitive and configurable visualization dashboards, which dramatically speed risk analysis and decision making.

- Created an AML monitoring application for Top-10 global bank that daily supports 22,000 users and 8.9 million transactions worldwide.