ERM 2.0
Business models have continued to grow in complexity over the past 50 years – from simple and local risk exposures to the current environment of complex and global exposures. Risk management has evolved along with the business model changes, from individual, transaction‑based decisions based on a combination of judgment and insurance as a primary mode of risk transfer to looking at aggregated portfolios of risk enabled by robust analytical tools.
K-RISSE: executive summary
The K-RISSE framework model enables companies to automate and transform enterprise risk management (ERM) from a siloed risk-driven approach to a holistic risk-integrated strategy tool that enables businesses to make the right decisions and track KPIs. It uses various multi-factor models and stress testing scenarios.
Risk Appetite Monitoring Tool: executive summary
The Risk Appetite Monitoring Tool facilitates alignment of the company’s strategy with its risk management framework. The tool provides a deep-dive analysis of organizational KPIs to deliver insight on the range of acceptable deviations from the KPI targets and align with the risk appetite of the organization to meet its objectives. This tool transforms the Risk Assessment methodology from a category-based approach to a KPI centric approach, which enables businesses to make effective decisions and monitor performance:
- Linking risk management framework to strategy
- Developing risk appetite and tolerance
- Designing and operationalizing an automated reporting tool
