Oracle Financial Services Operational Risk
Oracle Financial Services Operational Risk provides an in-depth level of insight across the enterprise to effectively identify, monitor, and manage risks and controls across lines of business and across processes within a comprehensive governance, risk, and compliance (GRC) framework.
- Work with an enterprise-wide view of all operational risk data to ensure a single and consistent view.
- Eliminate redundant efforts and inconsistent results through a common, pre-built operational risk application.
- Identify, measure and mitigate risks including business continuity, legal, documentation, product and all types of operational risks across the entire business.
- Confirm that the enterprise is optimally insured and identify cost saving opportunities through over-insured risks.
- Establish and maintain controls to keep operational risk levels aligned with your financial risk appetite.
- Demonstrate improvement in control effectiveness to key stakeholders.
- Reduce your cost of ownership and improve efficiencies with configurable user interface, workflows and reporting.
- Avoid “risk fatigue” by testing controls independent of your RCSA process.
- Comply with BIS Principles for Effective Risk Data Aggregation and Risk Reporting.
- Single data repository for risks, controls, compliance obligations and events, losses, actions, rules and regulations, insurance claims and policies, SOX and policy attestations, KRIs
- Multiple central libraries for holding information central to an advanced risk assessment process
- Linkage of insurance policies to risks, controls, and claims
- Process risk mapping
- Risk events collection and KRI tracking
- Multi-currency and multi-language
- Powerful workflow engine to keep users informed
- User configurability to reduce dependence upon the vendor
- Comprehensive reporting tool
- Economic capital module