rt360 Enterprise Risk Management
Identify and manage enterprise-wide risks
Enterprise risk management technology to identify and manage enterprise-wide risks
No enterprise is immune to risks. Today’s constantly evolving risk landscape can adversely impact an organization’s strategic growth and competitive edge in the market. Risks can arise from people, processes, and systems from both internal and external sources. There is a growing need for organizations to view risks holistically and integrate proactive, high-impact risk management practices into their overarching growth and go-to-market strategies. A robust enterprise risk management framework is critical to this.
rt360 Enterprise Risk Management or ERM helps organizations identify, assess, mitigate, and monitor risks effectively. rt360 Enterprise Risk Management is a powerful, analytical product that is underpinned by next-generation technologies and a “Business First, Technology Next” approach, which enables enterprises to identify and control risks arising out of their operations. The product is fully compliant with leading enterprise risk management framework for banks, such as COSO and ISO, and industry regulations, including the Basel guidelines.
A leading bank in the Middle East revolutionized its banking processes and improved efficiency by 40% with BCT Digital’s rt360 Enterprise Risk Management.
Key Features
Mobile-ready
Mobile-ready
rt360 Enterprise Risk Management enables businesses to close incidents and view alerts, dashboards and reports on the go, along with regional language enablement.
Integration capabilities
Integration capabilities
rt360 Enterprise Risk Management facilitates seamless integration with upstream and downstream systems.
Plug-and-play
Plug-and-play
rt360 Enterprise Risk Management is ready-to-use and cloud-ready with minimum effort for deployment.
Key Functionalities
Risk Strategy
Risk Strategy
Define and link risk appetite and tolerance.
Align with strategic objectives.
Align with strategic objectives.
Risk Identification
Risk Identification
Define risk sources, attributes, events, and consequence.
Leverage multiple modes, such as workshops, surveys, questionnaires, etc.
Leverage multiple modes, such as workshops, surveys, questionnaires, etc.
Risk Assessment
Risk Assessment
Industry-specific risk and control libraries.
Compliant with international frameworks.
Map risks to processes at LOB/org level.
Fix weightages at each level of risk aggregation.
Compliant with international frameworks.
Map risks to processes at LOB/org level.
Fix weightages at each level of risk aggregation.
Risk Treatment
Risk Treatment
Define risk treatment plans and timelines.
Assess residual risk values.
Record mitigation controls and assessment criteria.
Assess controls effectiveness.
Assess residual risk values.
Record mitigation controls and assessment criteria.
Assess controls effectiveness.
Risk Monitoring
Risk Monitoring
Capture and monitor key risk indicators.
Notifications/alerts for threshold breach.
Notifications/alerts for threshold breach.
Risk Reporting & Dashboards
Risk Reporting & Dashboards
Proactive data insights and analytics.
Informative dashboards.
Extensive & customizable reporting.
Informative dashboards.
Extensive & customizable reporting.
Risk strategy
Risk strategy
rt360 Enterprise Risk Management enables you to define and link risk appetite and tolerance and align with strategic objectives.
Risk identification
Risk identification
rt360 Enterprise Risk Management helps define risk sources, attributes, events, and consequences. Leverage multiple modes, such as workshops, surveys, questionnaires, etc.
Risk assessment
Risk assessment
rt360 Enterprise Risk Management contains industry-specific risk and control libraries. It is compliant with international frameworks. Map risks to processes at LOB/org level. Fix weightages at each level of risk aggregation.
Risk treatment
Risk treatment
rt360 Enterprise Risk Management enables you to define risk treatment plans and timelines. Assess residual risk values. Record mitigation controls and assessment criteria. Assess controls effectiveness.
Risk monitoring
Risk monitoring
Capture and monitor key risk indicators with rt360 Enterprise Risk Management. Notifications/alerts for threshold breach.
Risk reporting & dashboards
Risk reporting & dashboards
Get proactive data insights and analytics with rt360 Enterprise Risk Management, along with informative dashboards and extensive & customizable reporting.
Benefits
360⁰ view of risks, breaking silos
Gain a comprehensive perspective on all risk factors across the organization.
Reduced cost of compliance
Lower expenses associated with adhering to regulatory requirements.
Strategic integration of risk management
Implement robust strategies to identify, assess, and mitigate risks effectively.
Improved agility and decision making
Enhance organizational flexibility and improve decision-making processes.
Value Proposition
Business first, technology next approach
Business first, technology next approach
Industry-specific risk registers, controls
Industry-specific risk registers, controls
Compliant to global GRC frameworks
Compliant to global GRC frameworks
Flexible commercials and deployment models
Flexible commercials and deployment models
Business first, technology next approach
Business first, technology next approach
Industry-specific risk registers, controls
Industry-specific risk registers, controls
Compliant to global GRC frameworks
Compliant to global GRC frameworks
Flexible commercials and deployment models
Flexible commercials and deployment models
Products
rt360 Governance, Risk & Compliance Suite
Ensure intelligent and integrated management of enterprise risks, with end-to-end, automated governance and compliance.
rt360 Enterprise Risk Management
Identify, assess, mitigate and monitor enterprise-wide risks arising out of operations and ensure compliance with leading regulatory frameworks.
rt360 Audit Management
Streamline, integrate and fortify audit management. Adopt a structured, integrated and proactive approach to audits to control costs and reduce risks.
rt360 Compliance Management
Automate the overall compliance process; identify, assess, and monitor adherence with leading regulatory frameworks.
rt360 Incident Management
Streamline organization-wide incident management to identify, record and resolve incidents with business-impact.
rt360 Policy Management
Streamline and automate your policy management lifecycle with a comprehensive automated system for policy management
Brochures
rt360 Governance, Risk & Compliance Suite
Accelerate the process of identifying enterprise risks, and monitor and automate controls to gain a holistic and integrated view of governance and compliance.
Download Nowrt360 Enterprise Risk Management
Identify, assess, mitigate, and monitor enterprise risks effectively with advanced risk modeling, analytical and reporting capabilities, in compliance with Basel-II and Basel-III guidelines.
Download Nowrt360 Audit Management
Put your organization on the fast track to audit compliance. Automate, streamline and align your organizational objectives with your overarching audit program.
Download Nowrt360 Compliance Management
Simplify and automate organization-wide compliance processes while constantly monitoring adherence to regulatory and policy requirements through a single pane of glass.
Download Nowrt360 Incident Management
Streamline organization-wide incident management to identify, record and resolve incidents with business-impact.
Download Nowrt360 Policy Management
Streamline and automate your policy management lifecycle to sharpen focus on your business objectives.
Download NowFrequently Asked Questions
Enterprise Risk Management represents a strategic framework vital for banks, financial institutions, and enterprises, aiming to systematically identify, evaluate, and manage a wide array of risks in alignment with their goals and objectives. The importance of a robust enterprise risk management framework for banks, financial entities and enterprises cannot be overstated. It facilitates not only compliance with regulatory standards but also supports strategic decision-making by identifying potential risks and opportunities. Implementing an ERM framework enables organizations to protect their assets, ensure sustainability, and maintain competitive advantage. This comprehensive approach is crucial for navigating the intricacies of the marketplace, ensuring they can withstand shocks and capitalize on opportunities for growth.
The path to implementing an effective Enterprise Risk Management solution is rife with challenges, including cultural integration within the organization, aligning the system with strategic objectives, and the complexities involved in leveraging enterprise risk management technology. Banks, enterprises, and financial institutions, in particular, face the daunting task of ensuring enterprise risk management and compliance across diverse regulatory landscapes, further complicated by the rapid evolution of global financial markets. The costs associated with adopting sophisticated ERM technologies and training personnel to effectively utilize these systems also pose significant hurdles. Moreover, achieving a seamless integration of ERM practices into the fabric of the organization’s daily operations remains a critical challenge, necessitating a tailored approach.
Implementing an Enterprise Risk Management framework involves a series of fundamental steps, starting with defining an organization’s risk appetite and tolerance, followed by the identification, assessment, and prioritization of potential risks. Strategies for managing or mitigating these risks are then developed and implemented, with continuous monitoring and adjustment to respond to new risks and opportunities. Utilizing cutting-edge enterprise risk management technology is essential for achieving a comprehensive view of risks and their management. This requires a detailed understanding of the organization’s operations and a commitment to embedding risk management practices into all layers and aspects of the organization, ensuring a proactive rather than reactive approach.
Integrating rt360 Enterprise Risk Management into your existing processes requires a thoughtful analysis of current risk management practices in your organization and the identification of areas where rt360 ERM’s advanced capabilities can provide significant enhancements. By automating data collection and analysis, improving real-time risk monitoring, and utilizing advanced analytics, rt360 ERM can significantly improve the efficiency and effectiveness of your enterprise risk management framework. This integration should be approached methodically, starting with areas that will benefit most from rt360 ERM’s capabilities and gradually expanding to cover all aspects of the enterprise risk management framework. The end-goal is to ensure that rt360 ERM becomes an integral part of the organization’s risk management fabric, enhancing decision-making and organizational resilience.
rt360 Enterprise Risk Management differentiates itself from other market offerings through its comprehensive approach to both enterprise risk management and compliance, offering advanced analytics, real-time monitoring, and a customizable framework that can be tailored to the specific needs of banks, financial institutions, and enterprises. Its integration capabilities allow for smooth incorporation into existing technological infrastructures, making it a versatile tool for enhancing organization-wide risk management strategies. Additionally, rt360 ERM’s ability to provide detailed insights and facilitate proactive risk management through intelligent technologies and AI/ML intervention positions it as a valuable asset for financial institutions seeking to navigate the complexities of the financial landscape. By offering a more nuanced and adaptable approach to risk management, rt360 ERM enables organizations to not only comply with regulatory requirements but also to seize opportunities and drive strategic growth.
BCT Digital’s rt360 risk management product suite transforms the world’s leading enterprises, drawing on the strengths of next-generation technologies, sophisticated AI/ML models, data-driven algorithms, and predictive analytics. Its revolutionary Fintech, Regtech, and SustainTech solutions help enterprises optimize their core governance, risk, and compliance processes, enabling them to augment their positioning and go-to-market capabilities.
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