From Spreadsheets to Success: Advantages of Operational Risk Management Software for Financial Organizations
Many financial organizations still rely on spreadsheets to manage their operational risk data. While spreadsheet is a powerful and versatile tool, it has some limitations and drawbacks that can compromise the quality and accuracy of risk analysis and reporting. In this blog post, we will discuss why financial organizations should move from spreadsheets to operational […]
Operational Risk Management
Operational Risk Management Organizations face various operational risks due to the dynamic and complex nature of the business environment. These risks include cybersecurity attacks, natural calamities, regulatory non-compliance, human errors and more. To ensure business continuity and resilience, organizations require effective and flexible operational risk management solution that can assist them in mitigating these risks […]
Improve your Organisation’s Decision Making and Response Mechanism through an Integrated Risk & Resilience Approach
During last twelve to twenty four months we have all experienced extraordinary uncertainty primarily due to natural calamity, COVID-19 pandemic, unstable global economy, political differences leading to war scenario and others. We have even witnessed that large well run fortune 500 companies have failed the test during this period despite having a good risk and […]
Key Highlights of APRA`s Discussion Paper on Strengthening Operational Risk Management
Events of recent years like COVID-19, cyber-attacks, flood and storms etc. has reinforced the importance of managing and responding to operational risks. To ensure that regulated entities are well placed to manage operational risk and respond to business disruptions when they inevitably occur, APRA (Australian Prudential Regulation Authority) is consulting on a new prudential standard […]
An Integrated Risk and Resilience Framework – A Better Approach to Manage Uncertainty
Businesses across the globe have, in the last couple of years, seen exceptional uncertainty due to political tensions, economic turmoil, COVID-19 pandemic and others. Markets today have put additional pressure on risk officers to safeguard the firm due to extreme conditions like changing consumer preferences, technology advancements, regulatory changes, competitive pressures, globalization etc. This dynamic […]
The Seven Steps to Implementing an Effective Risk Management Process
Risk Management Process is a methodology by which risks are formally identified, measured and treated to ensure that risk is avoided, transferred or mitigated. As part of the process number of actions and mitigations are carried out to reduce the likelihood of occurrence and the impact severity of the risk. The Risk Management Process includes […]
Simple steps to Automate and Standardise your Risk & Control Self Assessment (RCSA)
Risk and Control Self Assessment process is a widely accepted methodology used by banks, financial companies, insurance companies and others to identify and assess the operational risk. Even though it’s popular, only few firms have been able to get the benefit of the same, as the process is cumbersome. The Risk Control Self Assessment process […]
Key Risk Indicators -A Powerful Tool to Anticipate Your Risk Within the Enterprise
In simple terms, Key Risk Indicator (KRI) is a metric used to measure the level of exposure to risk. These are indicators that denote the unfavourable situation or troubles ahead which could have a negative impact on the enterprise. KRIs are important As they help in highlighting a trend and predicting the potential high-risk area. […]
Risk Based Performance Management
Risk Based Performance Management Outcomes aligned to Objectives Request a Demo GIEOM Risk Central provides a scalable framework to define and achieve organizational goals. The solution caters to simple and progressive Objective definition in the first phase and addition of metrics in the form of Key Performance Indications subsequently. For a more mature Performance Management […]
Risk Central (Product page)
risk central GIEOM’s Risk Central provides a structured framework to manage, monitor and report critical risks and opportunities that impact your business objectives and strategy. Our solution ensures that your operational staff, risk managers and the executive management are spending their valuable time deriving business value from risk management rather than understanding how the application works. Risk Central is a low code […]
