Operational Risk Management
Continuously monitor risk and controls to minimise loss. Understand and manage cross-domain risk using enterprise-wide data and flexible assessments.
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Operational Risk Management
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Benefits of Operational Risk Management
Reduce operational losses
Manage and control risk better—identify, assess, measure, mitigate, monitor and report.
Increase productivity and lower costs
Apply a consistent, repeatable process to shorten cycles, improving efficiency and communication.
Achieve real-time visibility
Prevent and identify operational issues by continuously monitoring risk and control tolerances.
Build enterprise-wide resilience and reliability
Protect your customers and shareholders by recovering from unplanned disruption quickly.
Features of Operational Risk Management
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Risk control self-assessment
Evaluate inherent risk, assess control mitigation effectiveness and monitor residual risk.
Control assurance/testing
Document controls test plans and assess validity using selected samples and a central repository.
Continuous monitoring
Define thresholds and monitor key risks/controls to quickly identify changes in your risk profile.
Incident and loss capture
Record and track incidents and near misses—monetary loss, root cause and remedial action plans.
Additional features
Risk reporting and analytics
View granular risk events, exposure and hierarchy, rolled up to enterprise-level risk posture.
Advanced risk assessment
Run an overall risk assessment on any object—such as auditable unit, location or regulation.
Risk and controls taxonomy
Use common language and context to consistently analyse risk impact across departments and tasks.
Integrated issue management
Use predictive intelligence to create, assign and remediate issues—faster and more accurately.
AI-assisted risk management
Group similar risk events together using AI for more accurate analysis and impact reporting.
Multi-level approval workflows
Use dynamic risk-assessment workflows with three approval levels to meet unique organisational needs.
Assessment simulation
Run risk assessment simulations with response and approval workflows from production environments.
Resources
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Analyst Reports
OCEG: 2021 Modernizing Operational Risk Management Survey
IDC: Real Business Benefits Emerge from Bank Investments in Digital Transformation
Forrester: The Total Economic Impact™ of ServiceNow® Risk and Compliance
Case Studies
Danske Bank Unlocks Value and Spurs Innovation with ServiceNow
DNB Takes a Proactive Stance on Risk Management
Solution Briefs
Addressing Operational Risk with GRC
Business Continuity Management
Power Your Business with Risk-Informed Decisions
Effectively Manage and Report on Enterprise-wide Risk and Compliance
Ebooks
Developing a Better Risk Report to the Board
Cybersecurity Solutions for a Riskier World
Prepare for New Risks Ahead: How to Build Business-Wide Resilience
Operationalizing the ESG Business Imperative
How to get Operational Risk Management
Operational Risk Management is available with Governance, Risk and Compliance. Manage risk and resilience in real time.
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