Enabling value from a long game approach

HML, a StratexPoint user, has been on a risk management journey to make risk management part of the DNA of their organisation and in doing so, deliver real business benefits.

It should become part of the firm’s DNA and simply the way business is done – reflected in the effectiveness of management doing the right things. At a basic level, risk management is simply there to support decision making, allowing opportunities to be seized and value created.

The benefits that HML have achieved include a 94% reduction in the value of errors and a 63% reduction in the volume of errors.

Read a blog by the Head of Operational Risk and the HML Case Study.

Reinforcing a culture of accountability and meeting regulatory requirements

Two major challenges facing the risk management team, and the wider management team is 1) developing the right culture around risk management and 2) meeting regulatory requirements, specifically been able to demonstrate that the risk management framework has been embedded into the organisation.

Working with clients recently, StratexSystems has enhanced StratexPoint to include an ‘Acknowledgement’ capability which prompts the ‘Accountable’ persons to ‘Acknowledge’ their most recent data, which could be indicator data, risk assessment data, control self assessment data etc.

Accountable’s Dashboard

Acknowledge Overview Dashboard

These capabilities are having a significant, and positive impact within our client’s organisations. Would welcome feedback and comments.