OpenPages Operational Risk Management
IBM OpenPages® Operational Risk Management (ORM) combines document and process management with a monitoring and decision support system. IBM OpenPages Operational Risk Management enables organizations to analyze, manage, and mitigate risk in a simple and efficient manner.
IBM OpenPages Operational Risk Management helps automate the process of measuring and monitoring operational risk. It combines all risk data, including risk and control self assessments, loss events, scenario analysis, external losses, and key risk indicators (KRI), into a single integrated solution.
IBM OpenPages Operational Risk Management includes the following key features:
- Loss Events to track, assess, and manage internal and external events that might result in operational loss.
- Risk and Control Self Assessments (RCSA) to identify, measure, and mitigate risk.
- Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs), which can track performance metrics to potentially show the presence or state of a risk condition or trend.
- Scenario Analysis, which is an assessment technique that is used to identify and measure specific kinds of risks, in particular, low frequency, high-severity events.
- External Loss Events to import loss data from IBM® FIRST Risk Case Studies, ORX, and ORIC loss databases
- Issue Management and Remediation (IMR)
- Reporting, monitoring, and analytics