Product

BWise Risk Assessments

August 13, 2010

Risk identification

BWise enables an enterprise to identify risks and structure a defined framework based on a risk library, company’s objectives, business processes, the relevant threats and control measures. BWise supports your organisation in creating and managing an inventory of risks. These may be based on industry templates BWise can provide for your organisation’s particular industry or sector. As a result, the measures that the business must take and implement, in order to minimise risks are subsequently defined.

Risk assessments

Risk Management is not possible if an enterprise’s staff is unaware of the defined risks. BWise
enables a company to assess the level of risk; simultaneously with the risk identification process or on a regular basis on known existing risks. BWise Risk Assessments provides insight into threats, vulnerabilities and existing measures, and enhances risk awareness among management and employees.

A cost benefit analysis and scenario analysis can also be produced in the BWise platform and will aid in decision making and mitigating actions.

Risk monitoring

Based on the understanding of risks, business monitoring plans are typically implemented. BWise assists in this process. The platform offers insight into your business’ current risk profile anytime, anywhere. Where required business processes can be subsequently optimised as a result, contributing to the reduction of risks.

BWise offers transparent reporting, including performance and risk indicators. This enables an enterprise to initiate improvement projects, to manage various business processes and optimise risk management. The integrated BWise platform includes many instruments to monitor risks, including loss and incident management, key risk indicators, control testing, continuous controls monitoring and various assessment techniques. Based on one single platform, the level of integration is unsurpassed.

Product facts

• Configurable heat charts for impact and likelihood, severity and frequency
• Support for different risk dimensions such as financial, reputational, safety, health, environment and more
• Support for risk appetite, distinguishing between different entities
• Support for key risks, risk levels and risk ownership
• Risk workshop, interactively creating risk landscape
• Risk calculation support, integrating control testing and allowing residual risk calculation and more
• Combining and consolidating qualitative and quantitative risks
• Different phases including inherent residual and target risks
• Comprehensive risk reports and consolidated risk dashboards
• Configurable risk assessment workflows
• Web-based solution designed and continuously improved for optimal ease of use

Advantages of BWise risk assessments

• Safeguards the transparency and uniformity of your organisation
• Provides optimal insight into strategic, operational, financial and regulatory risks
• Assures risk awareness and strategic and tactical priority setting
• Lowers cost of risk management and improves company risk profile

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