The picture below presents ObjectRisk ERMC (Enterprise Risk Management and Compliance) Suite, which includes the following operational risk modules:
ObjectRisk Operational Risk Suite Structure
ObjectRisk Operational Risk Management Suite
ObejctRisk Suite covers both qualitative and quantitative operational risk techniques and uses them together to achieve impressive results on capital allocation, risk monitoring and improving the Self Assessment experience.
Processes, Risks and Controls
ObjectRisk SA module automates the collection of self assessment data across the organization using intelligent forms and automated questionaries. It allows Financial Institutions to track risks, controls and action plans, providing information for decision making based on risk x reward information.
ObjectRisk supports the requirements of Sarbanes-Oxley Section 404, Basel II, COSO and COBIT Methodologies to map Processes, Risks, Controls and Action Plans. It includes full workflow support, follow-up engine and process drawing capabilities with Microsoft Visio Integration.
Loss Database
ObjectRisk LD enables the collection, tracking, classification and analysis of operational loss events and risk factors for each process, area and product within business lines. “Lessons Learned” Action Plans associated with loss events can be created and submited by workflow.
Key Risk and Performace Indicators
ObjectRisk’s KRPI Module enables the identification of key risk and performance indicators and associated thresholds. It monitor values and uses real-time analytical technology to identify trends that might lead to unacceptable risk, triggering alerts and sending e-mail follow-ups and SMS messages to executives.
Economic and Regulatory Capital
ObjectRisk Capital, the Regulatory and Economic Capital module, enables the calculation of regulatory charge for BIA, STA, ASA, ASA2 and AMA, incorporating scenario analysis, back-tests and stress tests, as well as a rich user interafce with advanced graphics capabilities. Scneario Analysis
ObjectRisk SMM (Scenario Management Module) uses internal loss data, risks and controls for scenario analysis. It provides information and powerfull tools to help risk officers and front-line executives to use risk-reward relations into account on their day-to-day decisions.
Monitoring ObjectRisk provides sophisticated monitoring and modelling of risks, indicators and controls. Its powerful reporting engine and permits allocation of risk adjusted capital to individual business lines using advanced modelling techniques.
