Board Members, CEOs, CFOs, and other senior leaders are currently facing unprecedented challenges in the business landscape, including increasing complexity, geopolitical threats, and stringent regulations. To navigate these hurdles successfully, organizations must adopt an integrated and comprehensive Enterprise Risk Management (ERM) framework.
TricorRadar’s Enterprise Risk Management System (ERMS) is developed in compliance with global best practices and ISO 31000 standards. This robust system empowers Directors, Top Management, Risk Managers, and Internal Auditors to develop in-house Risk Scorecards, providing real-time visibility into risk status across the organization.
Key Features of TricorRadar’s ERMS:
- Dynamic and Personalized Dashboards: The system offers configurable dashboards that enable Board Members, Senior Management, and Managers to have a real-time view of risk status throughout the organization.
- Centralized Risk Repository: TricorRadar’s ERMS provides a centralized repository to store and access risk management best practices, ensuring that valuable knowledge is readily available.
- Structured Approval Workflow: The system incorporates a dynamic and structured approval workflow process, facilitating efficient risk management practices and ensuring appropriate oversight.
- Configurable Risk Assessment Matrix: TricorRadar’s ERMS allows organizations to configure a Risk Assessment Matrix that aligns with existing methodologies and accommodates future changes, providing flexibility and scalability.
- Key Risk Indicator (KRI) Tracking: The system includes KRI tracking capabilities to monitor critical risks and provide early warning indicators, enabling proactive risk mitigation and decision-making.
- Synchronized Management Action Tracking: TricorRadar’s ERMS facilitates the tracking and monitoring of management actions, ensuring that identified risks are addressed and resolved in a timely manner.
TricorRadar’s ERMS equips organizations with the tools and insights necessary to proactively manage risks, improve operational efficiency, and instill confidence among stakeholders. By leveraging this comprehensive system, companies can enhance their risk governance, adapt to evolving challenges, and navigate the complex business landscape with resilience.
