4
Lera Technologies OPERATIONAL RISK MANAGEMENT Identify, assess and mitigate your risks.
| Date post: | 22-Nov-2014 |
| Category: |
Documents |
| Upload: | lera-technologies |
| View: | 530 times |
| Download: | 1 times |
Lera Technologies
OPERATIONAL RISKMANAGEMENT
Identify, assess and mitigate your risks.
Operational Risk is the risk of direct or indirect loss which relates to the uncertainty of daily strategic business activities and risk events resulting from inadequate or failed internal processes, people or systems, or from external events.
T h e b a n k i n g i n d u s t r y ' s attentiveness of operational risk and efforts to manage it have increased in recent years, driven in part by an growing desire to improve operating competence, lessen earnings volatility, and rationalize the allocation of capital between
Banking and financial institutions are experiencing a vast change and facing an environment marked by growing consolidation, rising customer expectations, increasing regulatory requirements, proliferating financial engineering, uprising technological innovation and mounting competition. This has amplified the likelihood of failure or mistakes from the operations point of view – resulting in increased focus on managing operational risks.
The downfall of financial institutions has been seen due to frequent Operational Risk losses, with more than 100 reported losses exceeding US$100 million in the recent years. The regulators of banks and financial institutions are expecting a far greater level of insight and awareness by directors about the risks they manage, and the effectiveness of the controls they have in place to decrease or mitigate these risks.
The discipline of operational risk is at a crossroads. Despite the industry's attempts to manage operational risk, institutions still have much work to carry out.
A Framework for Success
Lera provides a Comprehensive
and Robust Risk Management,
Monitoring, and Mitigation
Solution for Operational Risk
Management. The solution
includes risk identification,
moni tor ing, measurement,
mitigation and reporting. It
enables firms to enhance their
c o m p e t i t i v e n e s s t h r o u g h
operational efficiencies, early risk
identification and commensurate
capital maintenance.
Facilitates documenting and evaluating operational risks, defining controls, monitoring audits, and implementing recommendations and remediation plans. Provides the ability to conduct Risk and Control Self-Assessment (RCSA) and track KRIs, thus providing all the elements required for addressing Basel II compliance.
Ad-hoc reporting, scorecards and role-based dashboards to provide transparency into the ongoing risk management efforts and fetch high-risk areas into focus.
Ability to track process ownership, assessment plans, remediation status, etc. on graphical charts with real-time information that can be accessed globally.
Ability to drill-down to deeper levels of information and provides an easy way to access.
Lera's End-to-End Operational Risk Management Solution
www.leratechnologies.com
Key Risk Indicators:
Audit trails:
Issues and Action Plans:
Visualization Capabilities:
Reporting and Alerts:
Identifies key risks and associated risk thresholds, so that the institution can observe values and identify trends that might lead to unacceptable risk.
Complete, automated audit trails of all data (Time stamps make it possible to view the state of a data item at a particular date and time).
Raises, monitors and reports on issues within the Operational Risk Management environment, as well as action plans need to mitigate identified issues.
HeatMaps, Dashboards & scorecards, Bar charts, Maps and Tabular reports
Automation of reports, indicators, and dashboards associated with operational risk management, for internal monitoring or for regulatory purposes.
Risk Management Life Cycle
Key Features of Lera ORM
Benefits of Lera ORM
Achieve visibility and improve operational efficiency.
Mitigate operational risk with increased data integrity.
Helps reuse data and reporting capabilities to ensure accuracy and reduce resource expenditures.
Quickly and accurately addresses organizational changes.
Effectively plans future risk assessments by strengthening risk assessments and controls.
www.leratechnologies.com
Risk M
itigatio
nRisk Monitoring
Ris
k R
eport
ing
Risk Identification Risk A
ssessm
ent
LERA
ORM
Identifying & recording an organization’s business structure & risk hierarchies
Qualitative and
quantitative models to
measure risk
Organization Risk Profiling
Model validation,
testing and audit
Achieve
d thro
ugh risk
transfe
r and ca
pital
rese
rves
Proce
ss re
-desig
n
and contro
l
impro
vement to
plug
vulnera
bilities
Establish benchmarks
based on risk tolerance
Monitoring controls &
their trends and
Re-assessing
organizations risk
Supervisory, regulatory
and internal riskreporting
Reports like control
effectiveness, performance & failure
report, custom slice &
dice reports
About Lera Technologies
Lera Technologies is a global IT Solutions and Services Company that offers
a wide array of solutions for especially for Banking and Financial Services.
Starting from providing solutions for Risk and Compliance, Business
Intelligence, Spend Data, Business Process Management, e learning to
implementing IT solutions for clients, Lera straddles this entire space. Our
innovative solutions deliver measurable value through increased process
efficiency thus helping businesses to take faster and better decisions.
About Us
Clientele
Contact Us
Lera Technologies Inc 146, Briar Lane,Norwich,Connecticut - 06360. Tel: +1 (646) 915 - 0640
Email: [email protected]
Lera Technologies229 Arc, Makarios,3rd Avenue, Meliza Court, 4th Floor, Limassol 3105.Cyprus.
Email: [email protected]
Lera TechnologiesPlot #1, New SBH Colony, West Marredpally, Secunderabad-26, India.
Tel: +91 40 27700000 Email: [email protected]
INDIAEUROPEUSA
www.leratechnologies.com
