OpenPages Operational Risk Management : Helps to automate the process of identifying, measuring, and monitoring operational risk. It combines all risk data, which includes risk and control self assessments, loss events, scenario analysis, external losses, and key risk indicators, into a single integrated MODULE.

Key features include:

• Risk and control self assessments, which include the following activities:
• Identification, measurement, and mitigation of risks
• Testing and DOCUMENTATION of internal controls

Loss events, which include the following activities:

• Tracking, assessing, and managing both internal and external events that could result in operational loss
• Managing multiple IMPACT events and recoveries that are associated with operational losses
• External loss events that provide the ability to import loss data from IBM Algo®, ORX, and ORIC loss databases into OpenPages Operational Risk Management for scenario analysis, benchmarking, and reports generation. You can also export loss data to analytic tools or capital allocation applications.
• Key risk indicators, which can track performance metrics to potentially show the presence or state of a risk condition or trend.
• Scenario analysis, which is an assessment TECHNIQUE that is used to identify and measure SPECIFIC kinds of risks, in particular, low-frequency, high-severity events.
• Reporting, monitoring, and analytics.
• Ability to access integrated capital modeling capabilities.

OpenPages Operational Risk Management : Helps to automate the process of identifying, measuring, and monitoring operational risk. It combines all risk data, which includes risk and control self assessments, loss events, scenario analysis, external losses, and key risk indicators, into a single integrated module.

Key features include:

Loss events, which include the following activities: