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Corporate Modelling has created an environment for modelling and then running an operating risk control system. Imaginatively called O.R.C.S. this solution enables a financial company or operational company to have a tailored operational risk control solution that can conform with several of the frameworks in the market place today. Risk management has often been done with spreadsheets, and as a tool this is better than not at all. However it is usually not sufficient for dealing with the problem even if it does provide some aggregate risk requirements.
Corporate Modelling approach to this is to create a risk management meta model that allows the risk tasks to be carried out in such a way that the reporting of these can be done to any particular standard while the total aggregations can be held in a manner, which is the HQ global reporting standard or an internal format, more practical to every day use.
Corporate Modelling is providing a suite of tools that allow any one risk to be categorised in many different risk hierarchies both internal and external, such that a multitude of reporting approach is available at any level of the aggregation. For a global company, or even one with global expectations, we expect this to be a mandatory requirement for good risk management practices.
For more informations about ORCS, please download our white paper from the downloads page.
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