ENTERPRISE RISK MANAGEMENT (ERM)
Enterprise Risk management is a process and approach aimed at managing and monitoring the opportuntites and threats related to the achievement of the organisational objectives. It is about building resilience to manage through challenging times while developing the capabilities to exploit market opportunities and build competitive advantage.
Risk management is an area many organisations find particularly challenging to manage from a strategic execution perspective. Too often regulatory demands are the driver of risk management efforts rather than business imperatives such as revenue improvements, cost reductions or developing organisational capabilities to exploit market opportunities.
OUR SOFTWARE WILL ENABLE YOU TO:
- Develop the processes, framework and culture to manage the organisational threats and opportunities
- Implement frameworks such as COSO Enterprise Risk Management framework, BS31100, ISO31000
- Implement Risk Frameworks, Risk Maps
- Align the Risk framework to strategy
- Monitor and assess risk via risk assessments and Key Risk Indicators (KRIs)
- Meet regulatory obligations, including Basel 3, Solvency 3
- Implement the three lines of defence model
- Respond effectively to FSA RMP and Section 166 requirements
KEY BENEFITS OF OUR SOFTWARE ARE:
- Reducing risk-related errors and losses.
- Reducing costs.
- Improving capital allocation and optimisation.
- Developing a single, enterprise-wide view of all types of risk.
- Building a culture that can manage through a crisis.
- Driving revenue through exploiting more risky opportunities.
Video of Kevin Pearce, Head of Operational Risk, Aldermore Bank, explaining how his organisation was able to establish their ERM agenda using StratexSystems' Enterprise solution; StratexPoint
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