The historical approach to risk assessment involves business line managers providing information through a framework devised by risk and compliance specialists. While the data gathered in this way is important, it only tells part of the story. OneSumX GRC for Compliance Risk Assessments provides the high-level, whole picture view required to effectively understand risk across the organization.
This solution can help you:
Unlike many other technology vendors, risk assessments comes complete with several risk and controls libraries specifically designed for the financial services industry that can be used as both a starting point for assessments and as a benchmark throughout the risk management process. These libraries contain standard risks and controls for regulations and standards. Each risk and control contains a pre-existing taxonomy of function, activity, process, risk category, and a linked authoritative source which allows users to report on overall risk by multiple angles across the enterprise.