Each decision
that is made in your company involves uncertainty and, therefore, entails
risks. Yet a risk is not automatically something dangerous. It can also pose an
opportunity. Modern systems for Risk Management address the entire process from
identifying, evaluating and mitigating risks to creating informative reports
for management. ORM –
Operational Risk Management, therefore, is
an integrative approach that increases the awareness for risks while improving
the understanding of them. By implementing an enterprise risk management
system, companies can secure their long-term success, reduce the cost of risks,
and seize potential opportunities. Carefully managing opportunities and risks
is one of the fundamental tasks of executives and management. If it is proven
that an individual has not upheld these duties, that person will be held liable
and must compensate any damages that have occurred.
Important: Preventive risk
management is one of the prime functions of the executive board or managing
directors. In the event of culpable breaches, the respective individual is
personally liable and must replace the resulting damages.
With GOLDENHORN eGRC ORM, you can keep
your existing methodologies and processes, which you simply model on a
professional, integrated software platform. Its holistic approach visualizes
relationships between organizational units, their risk owners, processes,
risks, evaluations and measures to help eliminate the silo mentality that is
still prevalent in many companies today.
GOLDENHORN eGRC ORM’s advance reporting and dashboard editor empowers business users
to create reports from risk2value on their own. This minimizes the dependency
on advance BI tools.
Features
Build customer-specific evaluation and scoring methods
Manage and track all risk activities and records on a central risk journal structure
Run different kind of BIA-Business Impact Analysis and Risk Assessments through customizable ESM-Evaluation and Scoring Model definitions
Make qualitative and quantitative risk evaluations
Keep an history of all information updates automatically
Create standardized reports and integrate custom report tools
Adapt the software to your company’s specific needs
Minimize administration
Benefits
Gain a complete overview of all risk scores for stakeholders
Reduce methodical complexity and focus more on content
Simplify assessing and detection through full traceability
Design custom reports flexibly
Assign owners to key risks associated with processes, services, products and organizational units
Monitor critical key risks tightly
Manage measures and controls using GOLDENHORN SLM engine
Maintain existing methods and processes for a fast implementation
Model individual dynamic cases for approval processes
Minimize implementation times through customization capability
Use the modular approach to integrate risk data from compliance management, audit management, internal control management external audit management, business resilience management etc.
Ensure consistent results through an integrated and consilience solution
Solutions
Thanks to the modular configurations of GOLDENHORN eGRC ORM with different submodules and features:
Operational Risk Knowledge Management System
Operational Risk Case Management – Operational Risk Request Fulfillments
Operational Risk Incident Management – Loss Record Management
Operational Risk Assessment Planning Management
Operational Risk Assessment Management
Operational Risk Assessment – BIA
Operational Risk Assessment – Process
Operational Risk Assessment – Product/Service
Operational Risk Assessment – Investment Projects
Operational Risk Assessment – Vendors&Suppliers
Operational Risk Assessment – External Service Provider
