As with any major purchase, demonstrating the return on investment is key to getting the ultimate buyer to support the investment. Automating your risk and compliance activities can positively affect your company’s bottom line. You just need to prove it. Here are some insights to help you do just that.
We are now more than a year into the guidelines that went into effect June 2015 for medium/large insurers to comply with Own Risk and Solvency Assessment (ORSA)requirements that include the assessment and management of all risks (not just underwriting risks) in their annual reports.
Risk aggregation is all about ensuring that anyone looking at risks understands the relative importance of each risk and is confident that the appropriate risks have bubbled up to the surface. When assessing risks, there is essentially an opinion provided as to the expected impact and likelihood. In other words, there is no real certainty as to the timing or magnitude of a risk event.
The MetricStream Enterprise Risk Management App provides capabilities to deploy uniform risk methodologies and standards, ensuring a structured and systematic approach to ERM. The App enables an accurate understanding of risks across the organization, providing clear visibility into the top risks affecting the organization.
Information technology risk teams know well that the scope of IT risks can be very broad – ranging from technical security risk, to IT operations risk, through to operational risk and enterprise risk. IT risk teams typically have deep skills in risk identification and analysis of information technology components, and many are also quite skilled in making recommendations on risk treatment options.
In today’s global and increasingly digital business world, a broad spectrum of economic, political, social, legal, technology and regulatory changes are continually taking us to a new level of strategic and tactical complexity and creating commensurate pressures on business performance. We continue to see exponential growth of requirements (often conflicting and overlapping) that organizations must satisfy, and these become even greater as we expand global operations.
Dating from the end of the 19th century, Rabobank is a bank by and for customers. Over the past several years it has grown from its home territory in the Netherlands to become an international financial services provider with activities including banking, asset management, leasing, insurance and real estate. Its independent local branches are the most tightly knit banking network in the Netherlands, serving millions of Dutch retail and wholesale customers.
Watch to learn how RSA Archer Enterprise & Operational Risk Management provides the foundation to extend operational risk management processes to security, resiliency, regulatory compliance, audit, and third party governance.