Operational Risk Management Software Solution
Manage risk to seize growth opportunities and generate returns
Organizations are developing systematic oversight programs to address day-to-day operational risks including the risk of loss from inadequate or failed internal processes, people, and systems, or from external events. Many of these initiatives and activities are primarily owned and managed within a specific department or function. By adopting an integrated approach, companies can ensure that all operational risk management initiatives are sustainable processes aligned with the corporate strategy, and not unrelated tactical projects.
The ORM software solution from MetricStream enables organizations to document and assess operational risks, define controls, manage audits, and implement recommendations and remediation plans. The system integrates all ORM related data and processes --including a reusable library of risks and their corresponding controls and assessments, results from individual assessments, key risk indicators, events such as losses and near-misses, and issues and remediation plans -- in an integrated solution.
Role-based dashboards, control diagrams, and scorecards provide visibility into ongoing ORM management efforts, and highlight high-risk areas. The software has the ability to track process ownership, assessment plans, remediation status, etc. on graphical charts that provide real-time information globally. Information can be drilled down to deeper levels.
The solution provides both software and content with embedded best practices to define the scope of ORM processes and sub-processes,and guide the development of control and test libraries. Other intelligent and content driven features include access to training content from an expert community, and integration of business processes with regulatory notifications and industry alerts.
Key Capabilities of the Operational Risk Management Solution:
MetricStream ORM Solution also provides other intelligent and content driven features such as access to ORM training from an expert community, and integration of business processes with regulatory notifications and industry alerts.