Overview

HOPEX Enterprise Risk Management (ERM) can help you manage the broad spectrum of risks and the associated operations across your organization – from risk identification through to report generation – while ensuring data consistency and quality.

With HOPEX Enterprise Risk Management, you can:

  • Improve your ERM quality and effectiveness
  • Assess risks in collaboration with business users
  • Automate the consolidation and communication of risk exposure

Key Features

Identification Phase: Identifying risks and setting up a risk library

Identifying risks

  • Supports a bottom-up or top-down risk identification approach
  • Risks are mapped in relationship to their context (business processes and business units) using graphical risk mapping capabilities

Setting up and managing a risk library

  • Sets up a risk library where risks are identified and described in depth, with links to controls and objectives
  • Indicators, analytical reports, and summary reports are generated to facilitate risk library management

Risk Assessment Phase: Measuring and consolidating risks

Assessing risks

  • Risks are assessed by experts or a Risk and Control Self-Assessment (RCSA)
  • Establishes key risk indicators (KRIs) that are updated by business users through self-assessment questionnaires

Consolidating risks

  • The different measurements for a given risk are aggregated, and exposure to the risk is automatically calculated for each business process, business unit, and type of risk
  • Future risk exposure is forecasted based on measurements from previous years and the implementation of action items

Risk Treatment Phase: Monitoring risks and following up on action plans

Monitoring risks with appropriate controls

  • The response to each risk is determined: accept as-is, reduce, provision, or insure
  • Controls and action plans are developed and implemented to mitigate the risks

Following up on action plans

  • Reports are generated to facilitate the tracking of progress on action plans
  • The effectiveness of action plans is measured by comparing the inherent and residual risk exposure

HOPEX Enterprise Risk Management is integrated into MEGA’s single platform. That means you get enhanced synergies for advancing your business and IT transformation, as well as a clear, common view of key information about your organization.

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