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Program & Risk Management

With today's renewed focus on ensuring business performance while protecting investors and the corporate brand, executives are being prompted to re-prioritize the importance of operational risk management within their organizations. Executive management and boards of directors now expect a deeper understanding of how operational risk is being managed and how to manage risk to create the greatest reward for stakeholders.

Traditionally, enterprises have managed operational risk in silos, where separate business units maintain their own data, analytics and assumptions. Existing operational risk management systems are not equipped to capture complex interdependencies among a multitude of risk factors that span geographies, lines of business and functional organizations. As a result, departments end up focusing on risks that have less impact or low probability of occurring, while failing to recognize more substantial and preventable losses. OpenPages ORM can help your organization ensure that it has the appropriate indicators and controls in place to recognize and manage operational risk, and escalation processes to mitigate the adverse impacts when something bad does happen.

Increasing transaction volumes, growth-driven acquisitions and the globalization of business, coupled with a larger reliance on technology, have introduced higher degrees of complexity and uncertainty to organizations. In order to maintain a competitive advantage and to improve overall performance, organizations are seeking a way to understand and proactively manage the risks that can impact the business. An integrated operational risk program will enhance an organization's ability to be competitive in the market place, since it enables management to make strategic business decisions that are based on a complete and integrated risk portfolio of the enterprise.


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