CorRisk is a web-based, enterprise risk management application unlike any other. With a combination of a risk data warehouse, pre-formatted reports, graphical analyses, and CorVu’s powerful business intelligence functionality, CorRisk allows the risk management process to integrate all corporate information related to the protection of tangible and intangible corporate assets.
"By helping managers to align performance data, strategic plans and risk management, CorRisk sheds light on both corporate risks and opportunities," commented Kenneth Sorensen, Director of CorVu’s Risk Management Practice. "Through analytic exercises with CorRisk, organizations are better able to understand the emerging risk exposure and controls that are interlinked with such corporate intelligence. This empowers them to add risk management to daily decision making processes and focus on creating opportunities rather than preventing disasters."
-Standard performance reports and color-coded Control Tower views that allow users to analyze risk exposure and control performance by company, business unit, business driver, or the key goals risks impacts;
-Intelligent data collection and predefined risk reports and drill-down scenarios;
-A centrally maintained component library for risk policies, procedures, and definitions
The use of Key Risk Indicators, with live access to general corporate performance information as well as simple entry of soft measures;
-Analysis of accountability performance by owner, which can be interrogated against all associated performance and budget related data;
-Control reports designed to keep users abreast of the performance of all control strategies and their subordinate tasks, allowing analysis of how effectively the organization is accomplishing the control activities;
-Dynamic analytical views into risk performance, alerting managers to unacceptable risk control failures and allowing them to drill into risk dashboards to understand why control failures occur;
-and Administration control over security and functions.
"CorRisk empowers organizations to improve financial performance by distributing and embedding the risk management effort," added Justin MacIntosh, president and CEO of CorVu. "By enabling our customers to integrate risk management initiatives with corporate performance management systems, CorVu has made it very easy to align risk management with strategic plans, and thus meet business objective and improve business performance."