Enterprise Risk Management
Enterprise risk management empowers managers to identify and analyze the many risks that can affect the organization. Identifying preventive steps reduces the likelihood and magnitude of adverse impacts. The challenge most organizations face is that they must determine how to measure and manage risk consistently and sustainably, given its highly subjective nature and its reach into many disparate areas of the organization. Executives make better, more informed, more timely business decisions based on objective, risk-based information in support of strategic business goals. With Agiliance, organizations proactively address risks, whether doing so is mandated by regulators or recognized as a strategic imperative in an increasingly uncertain world.
The Challenges
As evidenced by several high profile cases involving banking trades, privileged users pose the greatest risk within the organization. Unauthorized activities by privileged users, such as administrators with unrestricted access across applications and platforms, are a major cause of insider security breaches and can violate change management procedures and separation of duties policies.
Challenges often arise because:
- The organization’s experts need a platform to collaborate on Enterprise Risk
- Visibility into risk can be trapped in silos – departments and divisions may not communicate their views that impact overall risk
- Overall security and compliance requires monitoring for configurations changes at multiple levels that involves applications, databases and operating systems
- Internal resources and headcount are not available to track standards and update processes
The Solution
The Agiliance Enterprise Risk Management module automates the entire ERM process and workflow, from scoring to mitigation and reporting. The module also aggregates risk-score status alerts providing timely, actionable information backed by audit trails and reporting visible to executive management and the board of directors.
- Addresses IT and non-IT assets.
- Asset Entities can be imported or created on the fly.
- Polls project team members for the likelihood of various events and for their potential impacts
- Flexibility in definition, analysis and scoring.
- Calculates the annual loss expectancy (ALE) and the single loss expectancy (SLE) to compare the ROI of response alternatives.
- Calculates residual risk scores resulting from chosen remedial actions.
- Ranks automatically generated risk scores in terms of relative importance, enabling focus on risk that matters most.
- Agiliance ERM uses workflow to track outbound emails to participants and a Web portal to handle response submissions.
- Empowers ERM project leads to review risk responses and assign appropriate values.
- Includes a trouble ticket management facility to track remedial follow-through and enables users to leverage solutions they already have, such as BMC Remedy.
Benefits
Executives make better, more informed, more timely business decisions based on objective, risk-based information in support of strategic business goals. With Agiliance, organizations proactively address risks, whether doing so is mandated by regulators or recognized as a strategic imperative in an increasingly uncertain world.
- Provides at-a-glance, real-time dashboard views into the entire organization’s risk posture.
- Deliver trends and scores, with immediate drill-down into the sources of information displayed.
- Empowers executives, increases the effectiveness of governance, and distributes accountability for risk to those in the organization most able to address it.