Of all the different types of risks financial services organizations face, operational risk can be the most devastating and at the same time, the most difficult to anticipate. Its appearance can result in sudden and dramatic reductions in the value of an organization. It cannot be managed successfully with a few spreadsheets or databases developed by an internal risk management department.
OneSumX Operational Risk enables organizations to meet and adapt to internal operational risk practices by automating and simplifying the process of collecting, storing, analyzing, tracking and reporting on information relevant to operational losses, risk and control assessments, definition and management of key risk indicators and scenarios. With this purpose built eGRC platform, organizations can: