Business Strategy: Enterprise Risk Management Domains, Subdomains, and Markets

This IDC Financial Insights report defines a blueprint for ongoing end-user market research and risk product and services spending forecasts in banking, capital markets, and insurance sectors across global IDC regions.

"The 2011 edition of the enterprise risk taxonomy, IDC Financial Insights, refreshes several definitions and adds a spending model for understanding how financial institutions invest in risk technology and services. Seven risk technology submarkets are introduced in the model to capture and analyze capital investments and operational expenses tied to the risk discipline across the enterprise. Risk managers can use the enterprise risk taxonomy and submarkets as a standard from which to benchmark the completeness and effectiveness of existing programs, for determining the costs and budget requirements, and for defining requirements to the risk solution community," says Michael Versace, IDC Financial Insights research director for Global Risk.