Since the invention of the computer, the banking industry has aggressively pursued technology with the goals of creating competitive advantage and reducing costs. It is no surprise that banks and asset managers are aggressively embracing public cloud technology as they continue an industry-wide modernization effort that began after the 2008 great recession. One area where we believe there are significant gains to be achieved via the leverage of public cloud capabilities is in risk management.
In this paper, we begin to outline the future that unlimited computing can unlock in risk management. To begin their journey, risk managers, bankers, traders, portfolio managers, and other key stakeholders would need to think about the ways in which public cloud enabled risk management can become a source of competitive advantage and to lay the framework for not only migrating existing risk infrastructure to cloud, but taking advantage of the opportunities it creates to rethink the operating model for risk.
