Enterprise Risk Management

Enterprise risk management. It’s an admirable target for many businesses, but can be a very challenging effort.

• Evolving standards and expectations
• Multiple data sources and systems
• Dealing with operational and informational silos
• Corporate governance expectation

There are elements of risk management that are well-managed inside every enterprise. The key to ERM is to incorporate those successful strategies across the other areas of risk management that need to be strengthened. Don’t lose sight of what works well.

Develop a risk culture – companies that are successful with their ERM practices have implemented a top-down culture reinforcing the importance of risk throughout the enterprise. A user-friendly tool that incorporates that culture and simplifies the process, like ERA, will help you succeed.

Use a solution designed for risk – ERA from Methodware is designed around the Australia / New Zealand 4360 standard, the world’s first generally accepted risk management approach. As risk standards evolve, the flexibility of ERA allows your methodology to evolve with them.

Give your users some guidance – simplify the process by establishing workflow steps that point your business units in the right direction. ERA reminds you of outstanding material, double-checks data entry fields and automatically produces and distributes reports, based on your needs.

ERA allows you to perform direct and survey-based risk assessments. You can segment data by region or department and easily aggregate all information across the enterprise for reporting and analysis. Schedule data feeds from your intrusion detection system, credit risk engine, anti-money laundering application and any other transaction system in order to provide a single view of your risk portfolio.