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Enterprise Risk Management | Corporater

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What is Enterprise Risk Management (ERM)? How does ERM software solution help in moving from unstructured data and disaggregated risk assessments, to a multi-user, integrated platform that presents the organization’s risk profile in one view?

Learn how organizations can assess risks, conduct risk assessments, track risk treatments, enable a streamlined and documented process to keep track of evolving risk profile consistently and efficiently, based on ISO 31000 or COSO ERM frameworks.

To know more, visit: https://bit.ly/3g4bE8Y

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Enterprise Risk Management | Corporater

  1. 1. Enterprise Risk Management UNIFYING BUSINESS AND MINIMIZING RISK
  2. 2. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 2 Enterprise Risk Management (ERM) is a holistic, collaborative, transparent, and traceable approach to managing enterprise risks relevant to the organization’s objectives, including strategic and compliance risks. Enterprise Risk Management enables a streamlined and documented process to keep track on an organization's risk profile for efficient decision-making. Enterprise Risk Management
  3. 3. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 3 Enterprise Risk Management Software provides a wholesome and integrated risk outlook of an organization. ERM software helps identify and pro-actively address risks and opportunities, conduct risk assessment, aggregate risk status, monitor risk treatments and controls, and highlight the early signals of increasing risk exposures in critical areas. Enterprise Risk Management Software
  4. 4. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 4 Typically in organizations, the Board provides direction to the senior management by setting the organization's risk appetite. The Board also delegates to the CEO and the senior management the primary ownership and responsibility for operating Risk management and control. Governance of Risk Enterprise Risk Management Software
  5. 5. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 5 The management’s role is to: • Provide leadership and direction to employees regarding risk management. • Control the organizations overall risk-taking activities in relation to agreed level of risk appetite. Governance of Risk Enterprise Risk Management Software
  6. 6. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 6 The common challenges faced by the top management include: ▪ Data in disparate systems ▪ Lack of clear and updated overview/ status ▪ Reactive – not proactive management ▪ Time consuming consolidation and reporting ▪ Inefficient & ineffective reporting ▪ Manual/Excel based management ▪ Excessive operational focus in the reports ▪ Lack of quantitative assessments ▪ Challenges in bringing about cultural change Governance of Risk Enterprise Risk Management Software
  7. 7. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 7 To ensure effectiveness of the organization’s risk management framework, the board and senior management need to be able to rely on the adequate line of functions- including monitoring and assurance functions within the organization. Governance of Risk Enterprise Risk Management Software
  8. 8. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 8 The IIA and the IoD endorse the 'Three Lines of Defence' model as a way of explaining the relationship between these functions and as a guide to how responsibilities should be divided. *The Chartered Institute of Internal Auditors +Institute of Directors * + Governance of Risk Enterprise Risk Management Software Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved.
  9. 9. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 9 According to IIA 1. The first line of defence are functions that own and manage risk. 2. The second line of defence are functions that oversee or specialize in risk management, compliance. 3. The third line of defence are functions that provide independent assurance, above all internal audit. Source: IIA Website Governance of Risk Enterprise Risk Management Software
  10. 10. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 10 Enterprise Risk Management Software Corporater supports the first, second and third lines of defence in an organization to manage risk, compliance, and control objectives and to provide assurance on the effectiveness of GRC. The Corporater ERM software solution enables automated aggregation of risks up the chain, customizable dashboards and reports, and provides a systematic flow of information that helps in efficient, risk-based decision making.
  11. 11. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 11 With Corporater, you can Assess the risks posed to your organization’s operations and objectives. Conduct risk assessments and keep track of risk treatments and controls across projects & portfolios, departments, business units, divisions and countries. Enable a streamlined and documented process that allows an organization to keep track of its evolving risk profile consistently and efficiently based on best practice methodologies such as ISO 31000 or COSO ERM frameworks. Corporater Enterprise Risk Management Software
  12. 12. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 12 Key Features: Risk Treatment/ Response Policy Management Risk Governance Strategy & PerformanceRisk Analysis & Evaluation Risk Identification Risk Register Risk Reporting Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. Corporater Enterprise Risk Management Software
  13. 13. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 13 Key Benefits: Improved accountability through clearly defined roles and responsibilities Faster and improved decision making and problem-solving Enhanced resource prioritization and efficiency by highlighting gaps between current and net residual risks Enhanced risk visibility supporting risk-intelligent business culture Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. Corporater Enterprise Risk Management Software
  14. 14. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 14 RISK VISIBILITY Improve organization risk visibility and thus reduce risk exposure. Move to a collaborative integrated platform for enterprise risk management, enabling a unified risk register and bridging the communication gap between operations and executives as well as between operational units, the organization will improve its risk visibility and thus reduce its risk exposure. Corporater Enterprise Risk Management Software
  15. 15. Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. 15 Always be up to date and automatically provided the current risk profile in the different business contexts, enabling the organization to make faster and improved decisions based on transparent, traceable, and systematic information and visualizations. RISK CONTEXT Corporater Enterprise Risk Management Software
  16. 16. 16 REQUEST DEMO GET IN TOUCH WITH OUR EXPERTS Confidentialand/or proprietary. Not to be copied to third parties. © Copyright Corporater AS - All rights reserved. The Corporater Enterprise Risk Management solution is an agile solution that supports not only the current ambition levels but will also evolve with the risk management needs of the organization. The solution can be integrated with Performance Management and Compliance Management.
  17. 17. THANK YOU marketing@corporater.com www.corporater.com

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