To aid Sagicor in the identification and management of its risks, to enable its compliance with the regulations of the various countries
BWise, a provider of governance, risk and compliance (GRC) management software, has announced that Sagicor has selected the company as its GRC solution provider. BWise was selected to aid Sagicor in the identification and management of its risks, to enable its compliance with the regulations of the various countries within which it operates, and reduce GRC costs.
Sagicor was seeking a GRC solution that could assist it in identifying its risks and also enable the enterprise to specifically assign responsibility to staff for the reduction and mitigation of risks and monitoring of controls. BWise met this need and enabled Sagicor to assign ownership of its processes, controls and risks and then manage and measure them to ensure better compliance.
Maxine MacLure, executive vice president of Sagicor, said: Sagicor was looking for an integrated approach to GRC. Risk management was the most critical need for us, but we were also interested in regulatory compliance. Due to our presence in over 21 different countries we have to comply with several financial regulations. The audit capabilities were a bonus. BWise enabled us to create a converged infrastructure and provided the standardization we were seeking across all entities and countries. Ultimately, BWise was chosen due to the depth of its risk functionality and the vision that the company has for the continued development of its GRC platform.