The RiskBusiness OpRisk Toolset is a comprehensive web-based Software-as-a-Service solution consisting of a series of interacting modules to cater for complete operational risk management requirements. Included among RiskBusiness' award-winning risk content services - the KRI Library, Scenario Library and RiskBusiness Taxonomy Service - the OpRisk Toolset comes to life with deep content and granularity, supporting cross-programme exposure monitoring, and culminating in real-time warning alerts as risk-appetite thresholds are challenged.
Supporting standard operational risk requirements of risk and control assessment - such as key risk indicator monitoring, scenario assessment and internal loss event management - the RiskBusiness OpRisk Toolset adds capability in the areas of outsourcing, litigation, internal audit, process mapping, organisation structure management, capital management, economic capital and risk appetite. Each service draws on the core taxonomy structures and can be seamlessly integrated into loss data consortia and industry benchmarking initiatives. Subscribing firms can gain access to RiskBusiness' proprietary industry risk profiles and daily updated newsflash services as an integral part of the solution.
As it is a Software-as-a-Service solution, there are no upfront or ongoing technology costs, no IT support costs and no upfront licence fees - just a simple annual subscription with no usage limitations. This is why large and small basic indicator approach, the standardised approach and advanced measurement approach firms use RiskBusiness.
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