Governance, Risk, and Compliance

Enterprise OpRiskCenter

Enterprise OpRiskCenter is a comprehensive solution for operational risk that not only measures op risk but also provides a foundation for reducing operational risks, while lowering costs. It provides operational risk management functionality built on the Centerprise enterprise-wide GRC foundation covering organizational, process, and data/document management features. OpRiskCenter provides four distinct yet tightly integrated components:

Internal Loss Data Management

  • Supports all elements of loss event capture, storage, and management
  • Events captured through batch uploads, automated feeds, and/or manual entry
  • Wide range of attributes including multiple causes, impacts, and mitigating factors
  • Integrated workflows, change request processes, and general ledger reconciliation tools

Risk and Control Self-Assessment (RCSA)

  • Provides complete support for the design, execution and management of the self-assessment process
  • Manages inventory of risks and controls, and assignment of roles and responsibilities for assessment surveys
  • Configurable compliance/severity rating scales, and rating criteria
  • Integrated with OpRiskCenter components including issue/action plan tracking, workflows, and document management

Sarbanes-Oxley (SOX) 404

  • Manages the entire SOX process, from the inventorying processes and controls through to execution of assessment surveys
  • Flexible taxonomy for processes, sub-processes, business objectives, risks, controls, and tests of control procedures
  • Support for Test of Design and Test of Effectiveness, as well as related deficiencies
  • Integrated with OpRiskCenter components including issue/action plan tracking, workflows, and document management

Issue and Action Plan Management

  • Enterprise-wide capture and management of issues and associated action plans, milestones, and deliverables
  • Issues may be originated by multiple sources and be cross-referenced with related issues
  • Action plans include description, responsible person, target completion dates, and related information
  • Optionally integrates with other OpRiskCenter modules including RCSA, SOX, and Internal Loss Event Management