Bring Order to the Chaos of Operational Risk Management
LockPath’s Keylight® platform helps organizations manage, measure, and report risks based on their strategic objectives.
How does an organization effectively manage operational risk in a volatile environment? First, risks must be uncovered, identified, then prioritized. They should be tied to the company’s strategic objectives, mapped to business processes and compliance mandates and linked to key performance indicators. In some situations, a process needs to be established to manage operational risk. In addition, regulators, auditors, and boards of directors are increasingly pressuring firms to improve their risk reporting.
Organizations are turning to automated tools such as Keylight to provide business leaders with more effective means of assessing risk, identifying operational risk events, and quantifying risk exposure across an enterprise. Keylight helps companies manage the daily business activities related to operational risk, including policy management, Key Risk Indicator (KRI) monitoring, risk and control documentation, risk monitoring and reporting, workflow and approvals, and risk exception processing. Keylight also helps users manage risk related events that result from failed controls, and from actions of employees and third parties.
An effective Operational Risk Management (ORM) solution should provide the following functionality:
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