Operational Risk Management in Regulated Environments
Organizations are developing systematic oversight programs to address day-to-day operational risks including the risk of loss resulting from inadequate or failed internal processes, personnel and systems, or from external events. Many of these initiatives and activities are primarily owned and managed within specific departments or functions. By adopting an integrated approach, companies can ensure that all operational risks management initiatives are sustainable processes aligned with the corporate strategy instead of unrelated tactical projects.
Operational Risk Management solutions from InfoStrength Smart Enterprise Suite enables documenting and assessing operational risks, defining controls, managing audits, and implementing recommendations and remediation plans. The system integrates all operational risk management related data and processes - 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, issues and remediation plans - in an integrated solution.
Dashboards, charting, and reports provide visibility into the ongoing risk management efforts and bring high-risk areas into focus. The solution has the ability to track process ownership, assessment plans, remediation status, etc. on graphical charts with real-time information that can be accessed globally. Ability to drill-down to deeper levels of information with a single click provides an easy way to access the data at finer levels of detail.
InfoStrength Smart Enterprise Suite uniquely combines software and content to deliver an Operational Risk Management solution to customers. Embedded best practices helps define the scope of processes over which risk management needs to be performed. InfoStrength stays with you by providing intelligent and content driven features from an expert community from within the solutions and integration of business processes with regulatory knowledge.