Dr. Bob Mark, CEO of Black Diamond, former GARP Financial Risk Manager of the Year and Vice Chairperson of The Professional Risk Managersâ International Associationâs (PRMIA) commented, âBPS has achieved a significant milestone through the successful development of an integrated RCSA approach. BPSâ RCSA solution enables its users to calculate operational risk at the process level, as well as at the individual and portfolio loss event levels."
Designed for maximum flexibility, RCSA accommodates the high degree of variability in assessment planning and execution from organization to organization. RCSAs can be designed by process, risk, risk event or risk driver, and accomplished by interview, workshop or questionnaire. Assessments can focus on controls, risks, processes or any combination thereof. Standard categorizations such as Basel II are supported out of the box, or organizations may use their own classification system.
Flexible planning and execution functions are accompanied by powerful survey and reporting capabilities. Using the BPS RCSA survey engine, organizations can easily distribute assessment questionnaires throughout the organization. Results can then be collected and aggregated as needed. With the rules and reporting engines, users can also create a custom rollup of RCSA results and calculations.