OpenPages Operational Risk Management
Automates the process of identifying, measuring, monitoring, analyzing, and managing operational risk. OpenPages Operational Risk Management enables businesses to integrate all risk data — risk and control assessments, internal and external loss events, key risk indicators, and issue/action plan management — within a single environment.
What does the product module do?
Risk and control self-assessments (RCSA)
A central source for all risk documentation including entities, processes, risks, controls, tests, and test results. Full document management provides check-in/check-out, version control, and audit trail capabilities.
Loss event management
Track loss incidents and near misses, record amounts, and determine root causes and ownership. Statistical and trend analysis capabilities enable users to track remedies and action plans.
Identify key scenarios that require additional risk treatment and assess their impact on the business. Provides input for capital modeling and enables business lines to assess high impact risk areas and emerging risks.
How it works
Dashboards and charts give insight into the state of risk across the organization. Drill-down through sub-reports for root cause analysis. Provides browser-based ad hoc, drag-and-drop report design.
Tree view visualization shows how GRC activities are connected.
Facilitates a flexible approach to risk management that can accommodate changes and align with organization’s existing procedures.
‘My Tasks’ provides a quick view of all the tasks assigned to the user, across activities in the operational risk domain, such as Loss Event Review, Issue Approval, Assessment Review and Action Items.
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