Comprehensive management and coverage of all types of risks …………………………………..
The solution ISIMAN Risks has been developed in partnership by Keyword and Jardine Lloyd Thompson*, combining our expertise to produce a leading edge, comprehensive solution for risk managers.
ISIMAN Risks is based on tried and tested technology from Keyword coupled with the extensive risk management experience acquired since 1832 by Jardine Lloyd Thompson Group, 4th insurance and reinsurance broker worldwide, quoted on the London Stock Exchange and Lloyd's broker.
Objectives
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·Manage all types of risks, including operational risks in order to achieve compliance with legal requirements
·Help set up in-depth corporate risk prevention mechanisms
·Improve corporate agility by including the information acquired by internal control in risk management
·Reduce costs due to better match between all types of risks, (operational, strategic and insurable) and their coverage
Solution
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Build risk maps in accordance with business process maps.
Take into account current financial requirements. These can be consolidated at each level, thereby identifying weak points, their causes and the extent of risk coverage.
Model and assess risks. Identify and measure direct and indirect consequences, estimate risk likelihood, compile risk data over time and, (optional) include analysis of residual risks.
Optimise risk management. Set priorities, supervise and coordinate players involved in risk management processes
Provide a simple data compiling system providing pertinent, up-to-date information.
Share information, document risks, minimise the budget required for risk analysis in the medium and long term, thereby releasing more resources for management and coverage of risks.
Provide risk managers with relevant data from internal control in order to improve both risk analysis and the day-to-day running of the business. This is achieved by the seamless interface between ISIMAN Risks andISIMAN Internal Control, thus providing:
·Assessment of control actions by sample groups of executives in selected sites
·Assessment of residual risks in terms of likelihood and consequences with regard to corporate objectives.
·Involvement of all senior management in the management of their risks and thereby reducing overall risk levels.
·Optimisation of risk coverage by linking risks, financial elements and insurance portfolio and setting optimal thresholds of contingency funds.
·Collation, management and sharing of knowledge and experience. The knowledge tree and the intuitive risk portfolio management system provided constitute a comprehensive corporate risk knowledge base.
Benefits
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Increased efficiency The solution provides the tools and information required by each player to be fully efficient. The intuitive user interface and ease of use of the solution means users can be operational in less than an hour.
Customizable The solution is customizable and can be adapted to keep pace with changing requirements. Keyword and JLT can carry out customization or training can be provided for companies wishing to carry out all or part of their customization requirements.
Rapid Implementation ISIMAN Riskscan be in use within a matter of days, even if customization is required.
Minimal IT Architecture Requirements The solution runs under Windows and requires minimal IT support.
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.
Step by step The solutioncan be used at all stages in risk management. It can be set up business process by process, department by department or by type of risk.
Reliable risk mapping Objective and rigorous risk mapping provides significant reduction in risks and optimized financial coverage.
Value added In addition to compliance with legal requirements, the solution provides a strategic tool for long term operational risk management, staff ownership, quality financial reporting and ROI management.
All companies wishing to protect their assets, reputation and inhouse expertise in the short and long term while adding value for shareholders, investors and creditors
All companies wishing to use the laws for financial security (FSA, Sarbanes Oxley, etc) as the basis for setting up an efficient, simple, integrated and compliant risk management system.
All companies wishing to maximize the synergies offered by internal control, internal audit and risk management.
