CERRIX AND

OPERATIONAL RISK MANAGEMENT

The ORM module holds the risk repository which is used by all other modules of CERRIX. The tool is built on the principles of COSO Enterprise Risk Management (ERM). It reckons the different steps from objective setting to risk monitoring.

• CRSA Support: The outcome of the CRSA sessions can be stored in a rapid way. The use of external voting machines for risk scoring is optional. Risk data is analyzed by its cause and effect. Objectives, Controls, Actions and supporting documents are linked to the risks.
• Basel2/Solvency-2 compliant: The use of CERRIX guarantees the qualifications for Basel2/Solvency2 requirements. Risk classifications (sources, event-types) are fully supported. COREP reports for losses and incidences are standard. The loss modeling on historic data needed for AMA qualification is performed in a third-party component which integrates with CERRIX.
• Event Capturing: Incidents may be reported by anybody within the organization. A simple web-form with few data-fields can be filled in. After completion it is send to the supervisor who can decide what action must be taken.
• Loss Database: All incidents and losses are stored in the loss database. It is fully workflow supported. Links with risks and universe items are possible. Amounts are in different categories and currencies.
• Key Risk Indicators: These can be defined at different levels (organization, processes, products etc.). Frequent monitoring will serve as leading indicator for increased risk profile. Input formats are standard and the uploading process can be scheduled.