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Operational Risk Management System - Ascent ORMS

Ascent ORMS
Today most organizations are developing systematic synchronized programs to address day-to-day operational risks including the risk of loss from inadequate or failed internal processes, people, and systems, or from external event and it becomes imperative to see that the system and polices are in alignment with corporate strategy.

Ascent’s Solution facilitates adoption of Operational Risk culture and enables long term transition to Reduced Risk profile, better Business Processes and Efficient Capital allocation.

Ascent Operational Risk gives deeper insights into Organizations’ Risk Profile and drives operational excellence to meet Business objectives.

Key Capabilities of the Operational Risk Management Solution:

Organizational set up; Risk Self-Assessment and Definition; Incident / Loss Reporting, Key Risk Indicators (KRIs); Reports, Dashboards; Scenario Analysis and Risk Analytics

Key Capabilities of the Operational Risk Management Solution:

Organizational set up:

Configure Organizational Structure, Roles, Risk limits, departments, hierarchy, authority, maker-checker workflows and policy & procedure uploads existing loss data.

Risk Self Assessment and Definition:

Document, Evaluate risk frameworks, policies, risks, events, KRI and controls. Assess risks in terms of Impact and probability to grade them, assess risk control standards.

Incident / Loss Reporting:

Facilitate recording of incidents losses, as well as Risk types like exceptions, TIDs etc., via appropriate approvals, authorities.

Key Risk Indicators (KRIs):

Manage and track Key risk indicators, and their thresholds with automatic alerts based on configuration and authority.

Reports, Dashboards:

Generate or schedule periodical reports based on a variety of parameters like status, Risk types, departments' products, functional heads etc.

Scenario Analysis and Risk Analytics:

Comprehensive Scenario Analysis including sensitivities, limits, exposures, Risk heat maps, across business functions and loss types.

Why Ascent Operational Risk Management Tool?

  • Robust Framework and Library : Complete set of industry standard KRI definitions and RCSA questionnaire with support for both conventional and Islamic banking across all types of business segments
  • Proactive and intelligent risk types: Capability to define and capture pre-emptive risk types like Exceptions, Transactions in difficulty and apart from Near Misses and Operational Losses to predict losses before they occur
  • Customizable Reporting :Apart from pre-configured standard risk reports, the system is flexible to configure ad-hoc or scheduled reports and view metrics on a variety of parameters such as by process, by business units and by status
  • Converged correlation capability Integrated visualization and dashboard to Correlate incidents to RCSA,KRI that enables to fine tune policies, control measures and detect inconsistencies and realign metrics
  • Complete customizability: Fully configurable organizational structures, business units, roles, reports, communication workflows, dashboard, reports, KRI’s, thresholds, alerts etc.
  • Accelerate Basel Compliance: All mandates of AMA(Advance Measure Approach) including Quantitative Assessment, Qualitative Assessment, External loss data, Scenario Analysis and Loss distribution methodology is provided to comply with Basel II & III norms

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