Birlasoft, the global IT services arm of the C K Birla Group, announces its governance, risk, and compliance (GRC) strategy designed to help businesses become more agile, gain greater visibility into their data, and balance business risk and responsiveness.
Since the Dodd-Frank Act was passed by Congress in 2010 as part of the financial regulatory reform agenda, Birlasoft has set up a domain-led competency to carry out comprehensive research and thought leadership for organizations grappling to understand and respond to the law’s still evolving technology requirements.
“Impending regulations, client and internal pressures are driving securities firms to enhance and restructure their compliance and regulatory infrastructure. This will remain a top priority for securities firms for the next few years and drive investments in areas such as OTC Derivatives, market surveillance and risk management.” says Dushyant Shahrawat, senior research director for TowerGroup.
The new GRC solution is developed on Birlasoft’s expertise and experience on compliance requirements for different vertical industries. While grouping all governance, risk and compliance solutions under an integrated GRC framework, Birlasoft has developed solutions around Dodd-Frank, Basel II, Solvency II, and data privacy compliance.
Birlasoft’s GRC strategic consulting offering will give another tool to IT Leaders and their business counterparts to prepare in advance, enabling higher levels of regulatory requirements, effectively utilizing their resources—allocating budgets to meet their compliance obligations.
“At Birlasoft we have developed a comprehensive and flexible framework to respond to both market dynamics as well as individual organization’s requirements. We can work with our clients to transform risk management challenges into a value-changing capability. The right level of risk management capability can position the company for better economic returns, lower risk, improved value and increased confidence of the stakeholder and hence we are proud to have a pioneering offering in this space which can yield that edge.” says Basu Dutta, vice president, banking and financial services practice for Birlasoft.