Without an integrated view, risk cannot be consistently managed
In today's digitalized business world, with the increasing number, complexity and speed of risks, ad hoc approaches to risk management can put risk teams under excessive workload. As a result of this situation, either high risks cannot be seen or rapid action cannot be taken with the available resources. Organizations often find it difficult to set business priorities and assign responsibility to known risks and controls. They only prepare to react when the possibilities of some risk increase. An effective risk management adopted within the organization can only be achieved by including the business units in the risk process. Unfortunately, many organizations do not take a proactive and comprehensive approach to risk management. However, there is no effective way to present the correct and complete risk view of the organization to senior management in different business silos with separate methodologies and metrics. Without an integrated framework, risks cannot be managed consistently within the risk appetite of organizations.
With RSA Archer®, you get a holistic and clear risk management methodology that allows you to prioritize risks, use resources efficiently to address the most critical issues, and make a difference in risk management as a competitive advantage. The first step of providing an accurate and comprehensive risk view to Senior Management is to create a central repository for risk and control related data. By incorporating your business units into risk management practices, you will make this approach a corporate culture and increase your ability to access consistent information about known and potential risks more easily, thus strengthening the effectiveness of your risk management program. The ultimate goal is to reduce the effects and possibilities of adverse events, to evaluate the opportunities encountered and to increase the probability of reaching your corporate goals, thus maximizing the performance of your business.
RSA Archer® reduces the effort you will spend to respond to risks, assess loss events and actively monitor key risk indicators. Drawing organizations, a holistic framework for their risk management program, RSA Archer® aggregates data to consistently identify, evaluate and monitor risks. With the ability to better understand, prioritize and manage known risks, you can expand your risk and compliance program to include other business units and risks, or reschedule your wasted resources as a result of more efficient management. RSA Archer® Enterprise and Operational Risk Management provides a variety of usage scenarios, including the following options, to meet your business needs while maturing your risk program.
- Risk Catalog
- Bottom-Up Risk Assessment
- Key Indicator Management
- Loss Event Management
- Top-Down Risk Assessment
- Operational Risk Management