Operational Risk Management
Operational Risk Management solution centralizes the operational risk management activities in a single, integrated Platform; enabling customers to have clear and consolidated view of risks and controls mapped to processes and products.
The helps in efficiently deploy resources to address the most critical problems thereby improve strategic decision making and operational resiliency. It enables industry professionals to establish a unified strategy for their control of work, risk assessment and master data management processes so they can drive Operational Excellence enterprise wide.
Why Platform X - Operational Risk Management
Cost Effective
Platform-approach to risk management reduces costs and improves your journey to Integrated Risk Management
Better insights into organization’s risk profile
Get a 360° view of the risk management program with real-time analytics
Effectively engage the first line of defense
Embed risk management throughout the organization through powerful workflows and an intuitive user interface
Increasing accountability
Enables risk managers to improve insight and oversight of the risk and exposure of the business at a strategic level and operational level
Capabilities
Risk and Control Register
The solution comes with pre-built registers which consist of 2000 risks, 3000 controls, list of products and processes for any Financial Institutions throughout the geographies. It supports the construction of a centralized risk taxonomy mapped to the associated products, processes, assets, controls, regulations, third parties and business verticals.
Risk and Control Self-Assessment
The solution provides integrated, and centralized risk assessment framework, configurable scoring approaches and workflows that help the organizations to establish complete automation of their risk management life cycle. User can plan, schedule, manage and perform risk and control assessments at various dimensions, evaluate inherent and residual risks quantitatively and qualitatively
Key Risk indicator Management
The solution provides pre-built libraries which comes with list of Key Risk Indicators (KRI), Key Performance Indicators (KPIs) and Key Control Indicators (KCIs). Integrate with upstream and downstream systems to capture the key risk indicators values on periodic basis which eliminates the manual overrides. Automated notifications in case of a breach, monitoring of Key Risk Indicators over a period will help the management team to proactively address the risk and issues.
Loss Event Management
The solution provides a single, unified system for various impacted groups across the organization to capture, analyze, categorize, and remediate events such as incidents, actual losses, potential losses, near misses, and crises.
Issue Management
An integrated issue and action management capability supports scheduling and monitoring of various risk mitigation activities, delivers real-time updates on the status of control issues and remediation.
Report and Dashboard
The solution provides a 360º view of organization’s risk management program through interactive executive dashboards, heat maps, and advanced data visualization of key metrics. The solution provides powerful reports, analytics, and risk intelligence using a combination of its built-in reporting and analytics engine, as well as deep integration with industry standard analytical tools.
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