Risk Managers are increasingly involved with senior management and take part in organizational and strategic business issues. They must provide insight on the scattered risks across the organization, but also reliable and consolidated information on the company risk profile.

The focus is not only on the controls program costs anymore, but also on the appropriateness and efficiency of these programs. These changes are required to build a stronger understanding of the business operations to create better administrative processes.

This goes hand in hand with employee ethics and the creation of a risk-aware culture.


Use reliable risk information to foster smart decision making at every level

MEGA’s HOPEX solutions help Risk Managers to oversee the broad spectrum of risks, and streamline risk management processes.

This includes, but is not limited to the identification, assessment, development and maintenance of mitigating measures and action plans and reporting using actionable data and metrics.

All the information and data about risks, controls, business process and how they connect are stored in the same repository to deliver reliable risk information to support business decisions. The collaborative environment enables all stakeholders to ease communication and enhance the risk culture.

Operational and Strategic Risks Identification

Identify operational and strategic risks in a cohesive way while setting up a shared risk library:

  • Put in place bottom-up and top-down risk identification processes and map risks in relationship to their context using graphical mapping
  • Link incidents, business line, and risks to integrate risk management in your day to day activity
  • Set up a risk library where risks are identified and described in depth with links to controls and objectives
  • Facilitate risk library management with indicators, analytical reports, and summary reports

Risk Assessment

Analyze risks across contexts with flexible risk assessment processes and get a consolidated view of the organization’s risk profile:

  • Assess risks via expert’s pool or via specific methodologies like the Own Risk and Solvency Assessment (ORSA)
  • Establishes key risk indicators (KRIs) that are updated by business users through self-assessment questionnaires
  • Aggregate the different measurement for a given risk and get the risk exposure for each business process, business unit and type of risk
  • Compare risk levels over time and report on your risk management system efficiency

Risk Treatment and Continuous Monitoring

Set up actions plans on critical risks and monitor your company’s risk profile through dashboards and reports:

  • Monitor risks levels using appropriate key risk indicators (KRIs) and dashboards
  • Define and implement appropriate controls strategy and associated action plans to mitigate the risks
  • Follow up on action plans with appropriate reports to track progress and measure their effectiveness by comparing inherent and residual risk exposure