Monitor Plus GRC-ORM™

Governance, Risk, Compliance

Opportunities & Risks Manager

 
 

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Comprehensive Management of 

Governance, Risks, Compliance, 

Opportunities & Vulnerabilities

Monitor Plus GRC-ORM™ is a solution that automates management of risks, vulnerabilities and opportunities. This system integrates quantitative and qualitative approaches to enable an analysis of multiple types of risks at single or multi-company level. Additionally, it helps institutions improve their internal control practices to comply with policies and regulations (internal, local and international).

 

This model covers the entire cycle of risks and opportunities (detection, analysis, classification, measurement, prioritization, control, mitigation and assessment). It is also equipped with an incident and loss event collection system that automates risks management and their real-time correlation with the Monitor Plus® control system.

 

Monitor Plus GRC-ORM™ is pre-configured and flexible enough to be set in accordance to the institution’s requirements. Additionally, it integrates dashboards for data management, a set of reports that provide access to management details, and it is accessible from smart devices.

Advantages & Benefits

Advantages 

  • Optimized risk management – creation and calculation of risk and performance indicators (KRIs and KPIs).

  • Detection, analysis and control of multiple types of risks.

  • Process layout and documentation across different areas of the institution.

  • Maps for risks, vulnerabilities and opportunities.

  • Early risk detection to prevent failures.

  • Automated action plan follow-up to implement mitigation measures (controls).

  • Provides a credible and transparent registry of historical data to calculate and model capital by risk based on advanced measurement methods.

  • Automatic creation of self-assessment surveys.

  • Collection of financial and non-financial loss incidents.

  • Timely alert generation.

  • VAR for operational risk.

Business Benefits

  • Risk control and reduction of risks across the institution and their associated loss.

  • Detection of new opportunities to increase utilities.

  • Compliance cost reduction.

  • Guaranteed availability of system continuity by reducing reputational risk.

  • Encourages growth, innovation and new product launching.

  • Encourages a culture of risks across the organization.

  • Reflects timely financial information for optimal corporate governance by ensuring the effectiveness of the necessary controls.

  • Enables an image of quality and security.

Exploit Your Data

The Monitor Plus Analytics™ submodule may be acquired additionally. This is an information management system that provides customized consultations and managerial reports. This tool enables a quick and effective visual data analysis to optimize decision-making on accurate data.

This system can be used as a basis to analyze system or team performance through various consultations (as per requirement). For example:

Risks

  • Risks by Classifier

  • Risks & Failures

  • Risks & Risk Factors

  • Control Characteristics

  • Risk Matrix​

Loss Events

  • Loss Events by Year

  • Top N Loss Events by Year

  • Grouped Loss Events

  • Loss Event Prognosis

  • Details of Loss Events by Month

Action Plans

  • Advances in Follow-Up and Activities

  • Action Plans by Activity and Follow-Up

  • Action Plans by Month

  • Follow-Ups and Segmentations

This tool is accessible from smart devices and allows the user to define a friendly presentation format for data, easily grouping different criteria to combine multiple data sources in a single view.