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Operational Risk Management

Continuously monitor risk and controls to minimize loss. Understand and manage cross-domain risk using enterprise-wide data and flexible assessments.

Benefits of Operational Risk Management

Reduce operational losses

Manage and control risk better—identify, assess, measure, mitigate, monitor, and report.

Increase productivity and lower costs

Apply a consistent, repeatable process to shorten cycles, improving efficiency and communication.

Achieve real-time visibility

Prevent and identify operational issues by continuously monitoring risk and control tolerances.

Build enterprise-wide resilience and reliability

Protect your customers and shareholders by recovering from unplanned disruption quickly.

Features of Operational Risk Management

Continuously assessing risk, control, and mitigation

Risk control self-assessment

Evaluate inherent risk, assess control mitigation effectiveness, and monitor residual risk.

Assessing control test plans using a central repository

Control assurance/testing

Document controls test plans and assess validity using selected samples and a central repository.

Continuously monitoring key risk indicators and controls

Continuous monitoring

Define thresholds and monitor key risks/controls to quickly identify changes in your risk profile.

Recording and tracking incidents and near misses

Incident and loss capture

Record and track incidents and near misses—monetary loss, root cause, and remedial action plans.

Additional features

Risk reporting and analytics

View granular risk events, exposure, and hierarchy, rolled up to enterprise-level risk posture.

Advanced risk assessment

Run an overall risk assessment on any object—such as auditable unit, location, or regulation.

Risk and controls taxonomy

Use common language and context to consistently analyze risk impact across departments and tasks.

Integrated issue management

Use predictive intelligence to create, assign, and remediate issues—faster and more accurately.

AI-assisted risk management

Group similar risk events together using AI for more accurate analysis and impact reporting.

Multi-level approval workflows

Use dynamic risk-assessment workflows with three approval levels to meet unique organizational needs.

Assessment simulation

Run risk assessment simulations with response and approval workflows from production environments.

Operational Risk Management is available with GRC

How to get Operational Risk Management

Operational Risk Management is available with Governance, Risk, and Compliance. Manage risk and resilience in real time.

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