JP Morgan Treasury Services has added Sarbanes-Oxley functionality to its Horizon operational risk management solution.
It will now include new functionality to support Sarbanes-Oxley section 404 regulations. Section 404 requires management to create and maintain an adequate control structure and procedures for financial reporting, and to assess the structure and procedures currently in place.
A loss/risk events module has also been added to the Horizon tool, to improve the client's ability to identify and manage operational risk.
"Managing operational risk is no longer an option, and with regulatory agencies mandating requirements, such as Sarbanes-Oxley, Horizon becomes a practical tool for establishing good practices concerning the handling of financial reporting, conflicts of interest, corporate ethics, internal processes, and accounting oversight," says Craig Spielmann of JP Morgan Treasury Services. "And perhaps the most compelling reason for a business to employ the Horizon operational risk solution is to attain excellence and become more competitive. Knowing your company's strengths and weaknesses is critical to achieving success."