Enterprise OpRiskCenter

Operational risk management functionality built on an enterprise-wide foundation covering organizational, process, and data management functionality

Firms are rapidly adopting the view that an effective system solution for operational risk must go beyond risk assessment surveys, loss event databases, and op risk capital calculations. Operational risk exists everywhere and in every process – from human resources to front office to accounting to financial control to settlements. Thus, the demands of operational risk drive the need for a strategic enterprise view, and an enterprise-worthy system solution that can both measure and manage op risk.

OpRiskCenter accomplishes this with four integrated components:

• data collection and monitoring
• organizational management and accountability definition
• business process and management
• op risk measurement and reporting

Enterprise OpRiskCenter is comprised of 4 distinct modules that work as one:

• Operational risk management, analytics and control
  • Control self assessment programs
  • Loss event tracking and database
  • Exposure indicator classification and reporting

• Organizational management and accountability definition
  • Define and maintain organizational reporting lines
  • Manage and define roles, staff assignments and detailed responsibilities
  • Create queries for operational risk exposure indicators by organizational and other reporting dimensions

• Business process management
  • Design and automate workflows
  • Automatically assign work items to appropriate individuals
  • Define escalation/notification rules and timing
  • Utilize workflow audit trail to identify operational risks and build risk exposure indicator metrics for operational risk database
• Data collection and monitoring
  • Software system inventory management
  • Data source definition
  • Monitoring of data feeds
  • Data transformation via message flows

Enterprise OpRiskCenter provides a comprehensive solution for operational risk that not only measures op risk but also provides a foundation for reducing operational risks while lowering costs.