Enterprise Risk Management
Effective enterprise risk management requires material risks across the organization to be brought together, assessed, and reported on a consistent basis. It also requires established governance processes to ensure risk decisions are escalated in accordance with the risk appetite and tolerances of the organization.
While rating agencies, regulators, shareholders, and other stakeholders are the primary motivators for many organizations to pursue more robust risk management practices, risk management offers the greatest payback when it’s embraced to optimize the performance of the organization.
RSA Archer Risk Management enables documentation of all risk in one central repository and provides organizations with the necessary tools and processes to capitalize on emerging risk management best practices. By establishing accountability for risk ownership and depicting the relationship of risks to losses and near misses, internal controls, business processes, objectives, and key risk indicators, formal remediation processes can be established and monitored. It enables both qualitative and quantitative risk assessments of inherent and residual risk across multiple risk categories, integrating output from existing risk models.
Risk Management allows organizations to roll up the results of risk assessments by risk category, intermediate, and enterprise summary risks and organizational entity across the portfolio of risks. Predefined and ad hoc reports and dashboards provide all levels of the organization with appropriate levels of detail and clear visibility into risks, their drivers, and associated loss events.