Governance, Risk and Compliance
Look auditors in the eye with confidence.
CAPABILITIES
Overview | Control Testing | Operational Risk Management | Issue Management | Incident & Loss Management | Survey Management | Policy Management | Audit Management | Continuous Monitoring | Publishing | Dashboarding
Incident & Loss Management
Document incidents and losses
With our solution, you’ll have a comprehensive workflow for incident and loss management so relevant values can be created, processed and analyzed. Incidents can be categorized according to specific criteria, such as type of business, incident type or cause.
The solution covers important requirements for the financial services sector, such as Basel II for banks or Solvency II for insurers. You also can generate an initial estimate of the anticipated loss.
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You can classify losses from incidents into different types and establish links with risks, application system types, accounting line items, organizational units and processes. You also can break down loss values according to these criteria.
An alarm can be triggered if specified threshold values are reached. Assignment of specific losses to risks enables risk managers to be informed, allowing the losses to be compared with the risk capital and risk evaluation improved. If required, new risks can also be identified and integrated into the risk management system.
