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Operational Risk Management Software

Identify, assess, and address operational risks across all departments of your organization.

operational risk management software
Keep your business operations organized and protected

Identify, categorize, analyze, prioritize, and treat risks, incidents, complaints, and improvement initiatives to increase operational quality, demonstrate compliance, and reduce potential operating losses. Enable your organization to meet the challenges of ever-changing regulatory requirements by implementing a purpose-built software instead of adding headcount.

Corporater Operational Risk Management Software

Operational risk is a certainty for every organization. Every organization faces it. It concerns people risk, process risk, systems risk, external events risk, legal and compliance risk, and it can occur at any level or position within an organization. The challenge becomes how do you manage operational risk effectively?

Corporater Operational Risk Management software is an enterprise-grade digital tool that enables organizations to proactively identify, assess, and address operational risks across all departments and business units. The solution provides a comprehensive set of tools that enables CROs, compliance officers, and risk managers to manage risk based on risk framework of their choice – use ISO 27005, ISO 31000, COSO ERM, or a hybrid. Achieve a holistic oversight of operational risk, automate risk management processes and workflows, conduct risk assessments, monitor compliance with laws and internal policies, and generate risk and compliance reports.

Operational Risk Management for Banking & Finance

Corporater Operational Risk Management solution for banking & finance helps the financial industry to prevent and proactively manage the risk of loss resulting from inadequate or failed internal processes, people, and systems, from external events, or from non-compliance.

Take control of the siloed NFR information chaos: provide oversight, enable collaboration & awareness, ensure information integrity, consolidate risk reporting, and achieve an efficient and compliant programme. Replace your Excel sheets with a professional IT system that will help you take your prudent risk management programme to the next level, and provide your organization with the ability to tell the same story.

Corporater Operational Risk Management solution enables risk managers to:

  • Establish a consolidated cockpit of the financial risks
  • Holistically identify, analyze, evaluate, and treat non-financial risks
  • Establish an integrated governance, oversight, and management of policies, IT systems and information assets, compliance objectives, incidents, processes, projects, products & services, and third parties
  • Gain continuous, updated, and actionable insight into the complete NFR domain of the organization
  • Gather data effectively, efficiently, and safely from within and outside of the organization
  • Proactively identify and address key areas of concern
  • Achieve an improved awareness, accountability and culture
  • Demonstrate compliance to regulators

Solution Features

  • Intuitive user interface
  • Risk dashboards
  • Risk register
  • Operational risk governance in accordance with relevant compliance standards and taxonomies
  • Policy management for operational risk policies
  • Holistic, integrated governance, management, and assurance of compliance, e.g.: Anti-Money Laundering, BASEL & Solvency, Information Security & Data Privacy
  • Risk framework support (ISO 31000, COSO, ISO 27005)
  • Risk assessment perspectives (assert risk, process risk, external risk, operational scenarios, legal risk, a.o.)
  • Alignment with strategic initiatives, objectives, and performance goals
  • KRIs, KPIs, and other metrics
  • KRI catalog
  • Incident management incl. loss/near-loss events
  • Improvement database
  • Risk data upload via integration and manual input
  • Risk data visualization
  • Risk consolidation and aggregation from internal and external data sources
  • Risk identification (manual user input and bulk import) based on taxonomy
  • Risk assessments of internal and external risks (qualitative and quantitative)
  • Risk Control Self-Assessment (RCSA)
  • Risk probability distribution and simulation (including Monte Carlo simulation)
  • Risk analysis (including scenario analysis, correlation, and sensitivity)
  • Risk analysis templates (for various types of risk)
  • Opportunity and consequence heat maps
  • Integration with underlying risks and information systems
  • RegTech connectors for relevant compliance frameworks
  • Risk context
  • Risk taxonomies
  • Risk monitoring
  • Risk appetite
  • Risk modeling
  • Risk evaluation
  • Risk treatment
  • Risk mitigation workflows
  • Risk-bearing capability
  • Risk radar
  • Risk response
  • Automated risk reporting
  • Document management
  • Version control
  • Audit log
  • Alerts and notifications
  • Control activities
  • Customizable branding
  • Access control / permissions
  • Surveys
  • SSO

Solution Benefits

Achieve a holistic oversight of risk

Achieve a holistic oversight of risk with Corporater operational risk dashboards. Experience the business impact of having a shared, dynamic risk register for any type of risk — from the operational to the strategic level, and the ability to correlate the corporate risk profile, impacts, and risk maturity with business performance and strategic objectives.

Establish risk governance

Define risk areas that could pose a threat to your organization’s existence across all departments, levels, and processes. Link risks to assurance frameworks across the three lines of defense. Configure custom risk dashboards to delegate, manage, and track completion of assigned tasks and responsibilities.

Identify & assess risks

Build and maintain a centralized risk register to have a complete and current overview of your risks. Analyze, rank, and continuously quantify identified risks based on their probability of occurrence and quantitative effects (e.g., amount of loss). Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

Take action on identified risks

Don’t just monitor your risks. Take action! Choose risk avoidance, risk reduction, risk-sharing, or transfer — to minimize risk impact. Define custom risk treatment actions specific to your organization, assign risk owners, and document all decisions in a clear manner. Create task lists and track task completion. Set up automated notifications to communicate assignments, responsibilities, approval status, and overdue tasks.

Cultivate a risk-aware culture

Cultivate a risk-aware culture by communicating risk internally across your organization and to the regulatory body (i.e., Management Board). Create a standardized reporting process based on concrete responsibilities, periodicity, thresholds, and reporting formats.

Demonstrate compliance to regulators and key stakeholders

Demonstrate compliance with laws, rules, and regulations applicable to your industry to regulators and key stakeholders. Evidence that your organization has sufficient resources (people and technology) available for proactive risk management, and that roles and responsibilities are properly communicated and documented.

operational risk management software
  • SaaS, on premise, or private cloud deployment
  • Industry-leading security for your data
  • Flexible configuration and customization
  • Rapid implementation
  • Ongoing support and innovation

Key Capabilities

Corporater Operational Risk Management solution comes pre-configured with best practice frameworks, templates, and functionalities needed for an effective management of operational risk.

Risk Dashboards

Create custom risk dashboards to have a complete overview of risks, their potential impact, options for risk mitigation, and more.

Risk Planning

Keep your organization prepared for the unexpected with Corporater risk planning and early risk identification.

Risk Identification

Continuously identify risks in various ways — from forms, data integrations, or user input — and record them in a centralized risk register (risk inventory).

Risk Assessments

Analyze, evaluate, and respond to your risks. Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

Risk Monitoring

Monitor identified, residual and secondary risks, take a corrective action, and measure effectiveness of your response.

Risk Reports

Generate custom risk reports and submit them through review / approval process. Include visual elements such as graphs and risk heat maps.

Risk Register

Build and maintain a centralized risk register (risk inventory) to have a complete and current overview of risks across your organization.

Incident Management

Establish and automate incident management process to minimize adverse impact on your organization. Monitor, report, and resolve incidents.

Alerts & Notifications

Create custom alerts to notify key stakeholders when a KPI moves above or below a specified threshold, when a goal is reached, or when a new issue arises.

Ready to get started? Request your free demo today.

Discover more Corporater business solutions

All solutions built on Corporater Business Management platform can be seamlessly integrated with one another allowing you to start with one solution and scale up later as your needs evolve. With Corporater, the process of scaling up is fast, easy, and non-disruptive to the end users.

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Why top organizations choose Corporater

Deployment of your choice

Select deployment option that fits your needs: SaaS, on premise, or private cloud.

Powerful Data Integration

Integrate data from various sources to have a full picture of your business.

Flexible Configuration

Have it your way – create a solution that fits your specific business requirements.

Rapid Implementation

Get up and running fast with Corporater customizable off-the-shelf solutions.

Industry-leading Security

Corporater is VL5 Veracode Verified and offers the highest level of security.

World-class Customer Support

We are here for you with premium support and continuous innovation updates.

Contact us to schedule your free demo.
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