INCIDENT REPORTING

LOSS DATABASE

Organizations learn from mistakes they make. It is obvious that mistakes that result in a financial loss, must be avoided preferably. The risk learning organization is facilitated when all incidents are recorded in a structured way and there are no thresholds for reporting incidents. With CERRIX, incidents are registered, enriched with classification data, assessed and analyzed. Since it is integrated with other functions, back-testing is possible.

• Event reporter: New events can be reported by those who are entitled to do so. The reporter can be anybody within the organization.
• Workflow steered: Recognition, approval, assessment, monitoring and closing an incident case is supported with a tailored workflow mechanism. Reporters and assessors are automatically notified via e-mail alerts.
• Multi-currency: Losses are stored by currency-type.
• Input for AMA modeling: Banks that must comply with the AMA approach, can make use of our modeling module. This will result in probability distributions by event classes. The separate module derives these distributions based on Monte Carlo analysis.
• Reporting: All C-EBS reports are supported with CERRIX. With OLAP , multi-dimensional analysis is possible and causal relationships may be found.