Operational Risk Management

Multicom OpRisk solution is designed to streamline and standardize operational risk management processes across the enterprise. It provides full visibility into processes of defining, collecting, tracking and reporting data on risks, causes, costs, key indicators and acceptable thresholds.

Continuous collection and monitoring of operational risk losses and events, together with immediate and actionable operational risk intelligence, enable management to:

  • Define, document, manage, and assesses all risks faced by an organization
  • Identify events and prevent risk losses
  • spot recurring issues, and resolve them quickly
  • take corrective actions using action plans and measures
  • uncover critical risk patterns and trends
  • enhance decision-making
  • prevent loss exposures

determine capital allocation across multiple business lines, processes and organizational units.

Highly Automated Workflows

By using highly automated workflows to replace time-consuming, manual operational risk management processes, mRisk facilitates a systematic and consistent approach to loss identification, assessment, tracking, and remediation; monitors KRIs, and triggers automated alerts when thresholds are breached. Configurable roles enable clear definition of accountability at each level within the risk plan and established lines of communication and feedback with various levels of management.

Powerful Calculation Engine

Flexible KRI’s definition and powerful calculation engine that links KRIs to loss events and self-assessment, enables management to gain an in-depth explanation for the loss exposures and trends, aanticipate future losses of all types and accurately assess capital needs.

Flexible Algorithms

Risk assessments and computations are based on proven methodologies and flexible algorithms, providing a clear view into organizational risks and enabling risk managers to develop optimal risk strategies.

Powerful Dashboards and Reports

Reporting is aligned with financial industry best practices. It is designed to enable tracking of operational risks through powerful dashboards and reports with drill-down capabilities; help users understand the data and uncover critical risk patterns and trends.

Detailed Audit Trails

Detailed audit trails are maintained for modeling assumptions and activities, giving full visibility into calculations and details on how risk is defined, measured, derived and displayed.

Monte Carlo Simulation

To strengthen ability to predict and control risk outcomes, Monte Carlo Simulation techniques are used to model potential operational risks and losses, predict and control risk outcomes and accurately calculate capital allocation.

mRisk enables institution to centralize risk classification according to Basel II standard and/or internal categorization, through flexible and configurable:

  • Risk definition and categorization
  • Role management with clear definition of accountability
  • Self asessment forms with embeded controles
  • Assesment qustioneries
  • Highly automated workflow
  • Alerts, notifications and task lists
  • Reporting based on arbitrary cryteria
  • Flexible KRI’s definition and powerful claculation engine
  • Simulations and analysis