LONDON & CHICAGO--(BUSINESS WIRE)--Fusion Risk Management, Inc. (“Fusion”), 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, marks 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
"Over the last year, as the global risk landscape continued to evolve, we have seen heightened regulatory action affecting financial services and insurance firms, creating an increasingly complex regulatory environment. Today’s organizations must now navigate a growing web of standards and requirements while continuously demonstrating their operational resilience," said Michael Campbell, Chief Executive Officer, Fusion Risk Management.
Campbell continued, "Resilience is not just a checkbox exercise – regulations set the minimum requirements organizations must comply with to protect customers. But achieving operational resilience requires full enterprise compliance and engagement. As regulations increasingly require ongoing monitoring and evaluation of resiliency controls, organizations must now prioritize resilience to remain compliant and competitive. By partnering with UCF, we can help clients demonstrate control efficacy while integrating with other operational insights to drive real-time and compliant decisions and activity."
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.
"With the compliance landscape rapidly evolving, organizations require the tools to fuel compliance initiatives and demonstrate compliance to key stakeholders. With this UCF and Fusion integration, joint customers can now leverage UCF data to gain an immediate understanding of which controls should be implemented to prove compliance across multiple regulations and standards. The partnership enables a streamlined approach to compliance empowering organizations to make data driven decisions," said Dorian Cougias, Chief Executive Officer, Unified Compliance.
Cory Cowgill, Chief Technology Officer, Fusion Risk Management, said "Fusion is focused on helping our financial services and insurance clients create scalable, dynamic, operational resilience systems and programs that help them demonstrate compliance and resilience. The partnership with UCF will help Fusion customers easily manage changes to regulations or standards and reflect those changes within their Fusion instance. We are proud to provide the most robust software and services to global financial institutions and insurance firms who rely on Fusion throughout their resilience journey to create and ensure a culture of resilience and compliance."
For more information, visit www.fusionrm.com.
About Fusion Risk Management, Inc.
Fusion Risk Management is a leading industry provider of cloud-based operational resilience software, encompassing business continuity and disaster recovery, risk management, information technology and security risk, crisis and incident management, and more. Its solutions empower organizations to make data-driven decisions with a holistic, agile approach and enable them to deliver on their brand promise through disruption. For more information, visit www.fusionrm.com.
