Risk Management Systems and Enterprise Risk Management
Managing a company’s enterprise risk is a rapidly expanding area of risk management, receiving increased boardroom attention from corporate governance, regulatory and audit perspectives. The ability to gain an immediate picture of an organization’s enterprise risk is key, with many companies becoming evermore familiar with risk assessments.
However, many companies could make more of the findings through greater understanding and dedicating more time and resources. Critical to success is choosing the correct solution to store the findings, which can be time-consuming and confusing with the various options on offer.
Aon eSolutions has developed the Risk Register module in RiskConsole, offering a sophisticated alternative to a spreadsheet approach, while being less expensive and resource-intensive than a dedicated enterprise risk management solution. It is simple and clear, scalable, easily accessible and flexible.
ERM Benefits within Risk Management Systems
- Provides a robust, reliable method for recording and consolidating risk register with full audit and control
- Facilitates reporting to and consolidation of enterprise risk management risk register data from multiple divisions and sources
- Allows identification of changes between reporting periods
- Tailored to meet the needs of a client and integrates with other insurable risk management activities
- Includes a customizable score matrix, risk categorization and business process for matching with a company’s needs
- Enables enhanced reporting on risk profiles accessed and shared over the web, issues on version control are eliminated, while managing updates from various functions or business units across geographies is made quick and easy