Vendor Operational Risk Management is a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk. It is the oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems, human factors, or external events.
Survey Analytics shows that not only is operational risk management expanding way beyond its initial remit, but governance, risk and compliance is also establishing itself as a firm favourite among those looking to wheather recent market adversity through integration.
Survey Analytics's Operational Risk Management helps institutions optimize capital allocation while mitigating risks in all areas of their organizations. It is a comprehensive solution with a powerful blend of data integration, analytics and reporting capabilities. It also helps institutions optimize capital allocation while mitigating risks in all areas of their organizations.
Vendor Assessment facilitates the annual data refresh by allowing vendors to review and update their information. Although the module can be used as a stand-alone tool, it integrates seamlessly with other CMS modules. Vendor ratings and other information are automatically incorporated in other elements of business continuity planning.