Rich Cooper, Global Head of Financial Service
Financial institutions already have a host of regulatory and supervisory responsibilities for sustaining operational resilience during times of uncertainty which disrupt an organization’s workflow, very much like the recent pandemic. Regulators and supervisors who take a broader view of operational resilience will place emphasis on a company’s capacity to manage operational risks and respond to disruptions to keep essential business operations running. By focusing on operational resilience, Fusion Risk Management, Inc. (“Fusion”), follows a customer-centric approach to helping businesses anticipate, prepare, respond, and learn in any situation by providing the required framework for them to remain resilient and competitive in the financial arena.
Fusion’s enterprise-grade platform allows clients to capture traditionally segregated data, including business continuity, disaster recovery, operational risk, vendor risk, and geopolitical risk, thereby turning it into actionable insights that help clients become resilient. As one of the largest independent Salesforce software providers, Fusion uses its underlying lightning technology and adds its subject matter expertise to enable clients to make real-time, data-driven decisions. The organization’s team comprehends how a client’s business runs, and by providing them with actionable insights, Fusion enables their clients to be operationally intelligent and take action on threats as they come. The firm analyzes all world events to see if they will influence a client’s workflow and then provides them vital information on how to stay operational if and when any unforeseen event impacts them.
Fusion uses a top-down strategy to identify a client’s essential services to a customer and then assists the client in planning, orchestrating, and measuring risk and resilience with certainty.
The strategy entails Fusion working with a client to identify their most essential services to customers and helping the client to keep those services up and running even when affected by an unexpected event. Fusion then examines a client’s data and builds a foundation that includes information pertaining to their environments, office locations, third-party ecosystems, and processes, typically stored in separate silos, thereby aiding clients in risk management, third-party due diligence, and business continuity.
The company’s framework includes sharing the data with its testing, response, and learning teams, where individuals work on plausible scenario modeling incidents, crisis management, and security management. Fusion’s configurable system tailors all the obtained data so that each team of a client’s organization can comprehend and collaborate seamlessly to remain resilient. The company then compares this data set with a client’s regulatory expectations using a compliance tool to overlay and examine regulatory footprints to maintain compliance. “We collaborate with businesses to create a common taxonomy that they can all utilize, search through, and apply to address a common issue throughout the enterprise,” states Richard Cooper, Global Head of Financial Service Go-To-Market, Fusion.
We collaborate with companies to develop a common taxonomy that they can all use, so they can look through it and deal with a common issue across the organization
Fidelity – a major financial services organization – was able to detect alarms and manage risk factors owing to Fusion’s holistic approach to resilience and automated workflows. After a competitive evaluation, Fidelity selected the Fusion Framework® System™ to co-create a new enterprise business resilience program that could grow and scale with new technologies. Fidelity can now assess risks proactively, intervene during disruptions to minimize the impact on operations, and engage CISOs by proving that technologies are ready to deploy, which inevitably increases organizational resilience. The merit of adopting Fusion’s solutions is a new resilience program that helps Fidelity increase customer value by automating tasks and effortlessly absorbing shocks, nurturing customer trust through a resilient culture that allows Fusion’s clients to deliver on brand promises consistently.