Risk Control Self- Assessment (RCSA) capabilities form a core part of MetricStream Risk Management Solution. These capabilities enable banks and financial organizations to document and evaluate their risk frameworks at multiple levels including corporate, business unit, and process levels. The solution provides a centralized risk framework to document, manage, and assesses all risks faced by an organization. It includes a risk register (library) where risk information for “ risks under management ” is created and maintained. The information includes the description, ownership, definition, impact, source, line of defense, and likelihood of risks, frequency of review, and key risk indicators, in accordance with financial industry best practices. Risk assessments and computations are based on configurable methodologies and algorithms, providing a clear view into organizational risks , and enabling risk managers to develop optimal risk and reward strategies.
Benefits of the RCSA Software Solution
The solution provides an enterprise-class solution for data aggregation, reporting, and comparison to provide enterprise-wide visibility into the RCSA process and highlight issues that need to be addressed on priority. The real-time visibility provided by the solution enables organizations to track RCSA through its lifecycle from initiation to closure. Powerful analytics and reporting capabilities with graphical dashboards help managers perform trend analysis and spot recurring problems to drive root cause analyse s in a timely manner.
Recorded Webinar: Rethinking Operational Risk
Expert Speaker: Christopher E. Mandel
MBA, CPCU, CCSA, ARM, AIC, RWW
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