Key Features
Enables enterprise-wide loss event capturing, reporting and action plans identification
Provides targeted reports to easily identify which controls have not been performed and who to contact for follow-up
Includes flexible scorecard reporting that allows the combination of loss history with key risk indicator (KRI) and issue metrics to arrive at an expected loss measure
Includes process heat maps that provide instant visibility into risks that need immediate attention
Allows setup of Key Risk Indicators
Benefits
Automates labour-intensive GRC review and assessment processes for operational risk, regulatory compliance, internal audit and corporate governance
Assigns risk management responsibility and accountability across the Bank
Continuously assesses risk related costs, effectively
Streamlines the capture and reporting of financial and non financial losses and near miss