Cover operational risks in financial institutions .........................................
Objectives
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·Ensure compliance with the Basel II requirements in terms of operational risk management
·Set up long-term, ongoing internal control monitoring system
·Include internal control activities in the day-to-day running of the enterprise.
Solution mise en œuvre
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Risk mapping per process
Identify and assess risks in terms of probability and possible impact on corporate objectives.
Specify control points using a standard framework
Set up self-assessment for directors.
Set up and monitor corrective action plans
·Feedback from independent auditors
·Indicators and scorecards provide objective measurements for management and pinpoint inherent weaknesses in procedures
·Set up and monitor segregation of duties
ISIMAN provides all functions necessary for high quality feedback monitoring and reporting:
Selective operation of feedback process
Automatic generation of feedback documents including user ID, return date and reminder period
Integrated one or two step workflow for feedback
Reminders sent out until results obtained
Standard feedback monitoring and graphic format reporting functionality
·Export into Excel spreadsheet of all validated results
Avantages
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Rapid Implementation Within a matter of days the solution can already be in use as a standard questionnaire is provided as an integral part of the solution.
Customizable The solution is customisable and can be adapted to keep pace with changing requirements.
Minimal IT Architecture Requirements The solution runs in an Intranet/Internet environment and is installed on any Microsoft server. It requires minimum IT support. Web-based publication and functionality require no client installation.
For Large and Small Enterprises The solution is suitable for large and small enterprises. It is designed to support a large number of users in several sites, but can equally be used in a single-site configuration.
Easy to implement The customized, automated solution enables you to set up an optimal risk management system with the minimum of effort.
Accountability Publication of results for all those involved in internal control and risk management ensures reliability and accountability for all.
Step by step The preliminary steps required for implementation of the solution in the short term provide the basis for many years to come.
Secure Web system Secure access rights specific to your enterprise ensure security at all times.
Value added Although the solution is specifically designed for compliance with the FFSA, it can be implemented as part of our overall offer ISIMAN Enterprise
Companies concerned
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All financial institutions concerned by the requirements of Basel II.
