Operational Risk Management
Key-risks can have a dramatic financial and reputational effect on an organization. The Basel Committee defines the operational risk as the “risk of loss resulting from inadequate or failed internal processes, people and systems or from external events”. To ensure compliance and proper risk management, companies need to review their business processes on a regular basis, assess current and potential risks, and design procedures or controls to mitigate those risks. This can help prevent related operational losses and fines for regulatory violations, reduce the costs and burden of compliance, and guard against potential reputational damage.
The functionality provides a centralized risk framework to document, manage, and assesses all risks faced by an organization. It includes a risk catalogue where risk information for risks under management are 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.
Risk ownership and risk action holders can be tailored to your organization.
Powerful analytics and reporting capabilities with graphical dashboards help managers perform trend analysis and spot recurring problems to drive root cause analysis in a timely manner.
Dashboards and reports allow executives and stake-holders to access the information they need regarding ongoing projects.
The SaaS solution offers scalability, round the clock accessibility and great reliability.
Matterhorn Risk Solution
The Matterhorn Risk Solution captures risks in a unified system. The solution provides a comprehensive tool to assess inherent and residual risks based on various qualitative and quantitative factors. It also supports risk ranking using a configurable scoring logic, tracks risk metrics and losses, and enables analyses of various risk scenarios in a consistent, efficient manner. The solution covers all aspects of the risk management process, ranging from initial risk identification through integrated reporting. The workflow management module is supporting risk assessment and evaluation to monitor, track and manage risk. Implementation of the system is easy and requires a short lead time.