Fighting tough
Algorithmics tops the annual rankings of op risk software vendors. Despite the crisis, the largest software firms are busy preparing for the new era of financial risk management, reports Victoria Pennington
Regardless of politicians' and regulators' promises to strengthen risk management and compliance, times are tough for financial services firms right now. So much so that many compliance and risk departments are being cut and risk managers remain fearful for their jobs. Budgets are on hold or being cut back, and until the regulators start to act on their promises to get tough on risk management, the risk and compliance departments are a fertile ground for banks looking to save costs. Software
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