Implementing Your Operational Risk Management Strategy with MEGA

Implementing Your Operational Risk Management Strategy with MEGA As compliance requirements increase, there is more and more pressure on executives to manage operational risks rapidly and efficiently. Going a step further to consider enterprise risk management as a whole and to optimize risk and control relationships is the key to transforming regulatory constraints into an opportunity to improve company performance. MEGA International helps risk and internal control managers implement a flexible solution for operational risk management to facilitate change and improve company Customer Benefits performance. In a changing environment, executives ■ Seamlessly support Basel II need to prove that they can efficiently manage risks and or Solvency II compliance control their operations. requirements, with the possibility to reuse elements and The MEGA operational risk management (ORM) solution is based on a progressive approach to consistently support multiple regulations, establishing a risk culture within your organization. With ensuring a strong culture of the MEGA GRC integrated and modular suite, you can risk management within your reuse part of your existing risk management initiative and organization. start the project based on your immediate needs, from ■ Involve business managers in loss data collection to capital at risk quantification. the support of your operational MEGA consultants’ business expertise and MEGA GRC risk management policy, via Suite enable a ROI-oriented approach through: a customized warning and messaging system, and the ➔ A flexible approach, allowing integration of your own definition of user profiles to concepts, vocabulary and methodologies, thus ensuring protect access to sensitive data. the involvement of all stakeholders as required. ➔ The right level of control to keep track of all your ■ Build a bridge between the operations via a secure audit trail, with automatic access business and IT departments to to record history at any time. ensure that risks are managed in a consistent way, from the ➔ A focus on information and communication with business perspective to the IS precise identification of responsibilities and confidentiality infrastructure. rules and support for enterprise-wide awareness of risk management policies. ■ Transform compliance into an opportunity to increase company ➔ A standard and scalable platform to support the performance by integrating deployment of the solution in your organization. operational risk management With the benefit of MEGA's multi-user platform, operational information in a larger Enterprise risk management is centralized, while accountability Risk Management initiative and is distributed to the appropriate stakeholders, thus taking advantage of powerful establishing a powerful communication tool for enterprise communication tools. risk management. MEGA ORM Solution The business-driven approach implemented by MEGA’s consultants in a substantial series of projects for more than 15 years MEGA’s solution for ORM is based on more than 15 years of experience provides them with a realistic perspective working with government agencies when considering the issue of operational and Fortune 500 companies risk management. MEGA’s approach to worldwide. ORM is not off-the-shelf; it starts from the MEGA consulting services provide excellence through numerous successful implementations identification of your specific requirements in achieved globally. order to adapt to your environment and corporate culture. It is not a one-off project, but ensures the consistent deployment of risk management over time. Adapted to your project’s requirements, the and monitor performance indicators for all MEGA ORM solution implements a 4-phase key risks and controls; track risk metrics and approach: thresholds, with notifications when thresholds are breached; evaluate the efficiency of ➔ 1. Model the internal environment structure, controls; set up the continuous improvement including risk types for your organization and of control systems, with periodic reviews and Our consulting approach relies on gradually control types, according to compliance and/or internal audits. analyzing and optimizing your business performance objectives. This analysis allows and IT systems operations. Deliverables are the identification of business objectives with At each phase, the MEGA ORM approach gathered into the Enterprise Repository and the people who are involved, so that priorities is focused on the building of consistent your personnel are thoroughly trained in how and the business areas relevant to the project information and communication rules. to create, maintain, query, and analyze your can be established. Thanks to the use of the MEGA GRC Suite, business description. risk and control information is captured and ➔ 2. Measure and assess risk and controls. consolidated in a centralized database that can This approach relies on two fundamental Identify realistic risk situations, from a serve all users involved in the management components: complete overview of risk types as evaluated of operational risk and compliance issues. • A Proven Business-Driven Approach by your stakeholders on the field; identify the Risks are evaluated and the efficiency of MEGA’s modeling technics are compliant with key controls to be set up and standardize your control systems is measured at local, official standards and can easily be enriched them across the business. departmental and/or enterprise-wide levels. with company-specific methods. Risk managers, business managers, internal ➔ 3. Mitigate risks through the definition auditors, the board and all stakeholders • A Toolset Leader in its Market of follow up action plans: organize control can share your enterprise risk management MEGA is one of the only solution providers that systems and associated responsibilities; information. encompasses all dimensions of Governance, select the level of risk response with respect Risk, Compliance and Enterprise Architecture, to your objectives; assign and track preventive Driven by a business approach, the MEGA from strategy and business modeling to and corrective actions across the organization ORM solution allows you to have a prioritized IT systems and data modeling, and more. according to your priorities; analyze and understanding of your risks, and their impact Our strengths include a common repository, adjust the controls as a function of the risk on your business. You provide decision- standard architecture, user-friendly tools, occurrence probability measurements; makers and all stakeholders with a shared and open libraries and high-quality reporting perform in-depth quantitative analysis to transparent view of risk management policy capabilities. calculate as precisely as required the capital in your organization via dynamic information at risk.