IBM OpenPages GRC Services | GRC Consulting – iTechGRC

IBM OpenPages Operational Risk Management

Respond to dynamic operational risk with confidence and achieve business goals

Get a comprehensive view of all your risk data in one place

iTechGRC utilizing IBM OpenPages Operational Risk Management (ORM) solution, automates operational risk identification, measurement, monitoring, and analysis. The solution allows businesses to integrate risk data from multiple sources in a consolidated environment. IBM OpenPages Operational Risk Management automates and manages the process involving the following risk data:

  • Risk and control assessments
  • Internal and external loss events
  • Key risk indicators
  • Issue and action plan management
Enterprise Operational risk management

Key Features

Risk and control self-assessments (RCSA)

It enables businesses to develop a centralized repository for all risk-related documents, including entities, processes, risks, controls, and tests. It provides necessary document management capabilities such as check-in/check-out, version control, and audit trail.

Loss event management

A feature designed for risk managers to track loss incidents and near misses, determine ownership, and perform root causes analysis. They can also track action plans and remedies with statistical and trend analysis capabilities.

Scenario Analysis

Help risk managers to identify critical scenarios that may require additional risk treatment by enabling them to assess the impact of these scenarios on the business. Risk managers can also get inputs for capital modeling and evaluation of high-impact risk areas and emerging risks for various business lines.

Issue management and remediation

Deploys automation to track issues through their entire lifecycle and creates a single source of truth. Provides a consolidated view of all the tasks assigned to various users across the operational risk domain, making risk decisions visible and actionable to all.

User-focussed dashboards

Intuitive dashboards and charts give insight into the state of risk across the business. The dashboard provides an on-demand browser-based drag-and-drop report design. Perform root cause analysis by drilling down through sub-reports.

Interactive workflows

Help risk managers understand the connection between GRC activities with ‘Tree’ view visualization. Interactive workflows enable a flexible approach to risk management by helping adapt changes and aligning with the organization’s existing procedures.

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Why IBM OpenPages Operational Risk Management

IBM OpenPages Operational Risk Management enables proactive management of critical risks that help mitigate risk seamlessly, improving revenues and profits. It allows risk managers to identify and handle high-risk and emerging risk areas. IBM OpenPages Operational Risk Management provides on-demand reports that deliver actionable insights on operational risk across the entire organization. It facilitates risk measurement that helps in minimizing losses.

Why IBM OpenPages Operational Risk Management

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Facilitates an adaptable approach to risk management that helps lower the total cost of ownership

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Enables proactive management of critical risks that help mitigate risk seamlessly, improving revenues and profits

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Allows risk managers to identify and handle high-risk and emerging risk areas

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Provides on-demand reports that deliver actionable insights on operational risk across the entire organization

Interested in harnessing the AI capabilities of IBM OpenPages to meet your GRC requirements?

Our GRC experts can help you make the most of IBM OpenPages capabilities

Blogs

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We are an IBM RegTech Partner for delivering OpenPages Operational Risk Management solution.

We can help you develop a centralized repository of risk-related information and automate the entire risk management lifecycle.