Product

BWise Loss & Incident Database

August 12, 2010

BWise Loss & Incident Database can be completely tailored to your organisation’s wishes. The solution ensures that all relevant information regarding individual incidents and related events is registered and can be used for analysis. BWise Loss & Incident Database, based on best-practice models, offers:

• Localisation and registration of the incident
• Mapping of related risks and business processes
• Documentation regarding the incident as recorded in the integrated BWise Content Management Solution
• Analysis of the underlying cause of the incident
• Insight into financial and non-financial consequences
• Recovery possibilities
• Issue management

Incident management in GRC

BWise Loss & Incident Database is part of the complete BWise Governance, Risk and Compliance (GRC) platform. This platform includes all the necessary technical possibilities for a scaleable state-of-the-art GRC platform. BWise Loss & Incident Database is fully integrated in the GRC Platform
– as are solutions in the area of risk and control, from the corporate level down to the level of the various operating companies, units and departments within an organisation. This uniquely integrates the BWise Process Documentation Technology by bringing process documentation to a higher level than the typical solutions. The BWise GRC platform also offers Risk Assessment Technology, ERM Dashboard technology, and control testing functionalities including the acquisition of electronic proof and open assessments. All of these options are integrated in a unique GRC platform.

What is the Risk?

In addition to the Loss & Incident Database solution, BWise offers a component that calculates the Value at Risk: BWise Risk Analysis. This calculation is required by law in the financial sector, but also offers significant value in other sectors. The Value at Risk calculation uses a Loss Distribution
approach, including Monte Carlo simulations and scenario analyses that can be used in combination with the Loss Distribution in the Value at Risk calculation.

Product facts

• Fully configurable to register source, location, root cause and consequence
• Integrated with risk and control framework
• Web-based solution designed and continuously improved for optimal ease of use
• Extensive authorization capabilities to ensure safeguarding of sensitive information
• Can be expanded with BWise Risk Analysis to include a loss distribution approach

Advantages of BWise Loss & Incident Database

• Rapid insight and control when incidents occur
• Compliance with regulatory requirement for loss and incident management
• Integration into GRC platform ensures a comprehensive view on business, based on accurate information on past, present and future

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