Unity ERM Features
Risk Universe
Risk Universe provides a central repository to define all potential risks and risk events identified as applicable to the organization, regardless of probability or impact. Risk administrators may create risks that are either independent of or shared with those risks managed within the compliance control hierarchy. The Risk Universe minimizes challenges associated with identifying the most significant risks to the business and provides a single repository to document a company’s enterprise risks in accordance with its performance management objectives.
Risk Status Console
Risk Status Console enables real-time monitoring for all supporting activities associated with each defined enterprise risk, including compliance testing, issue handling, key risk indicator, and loss event data issues. Specifying a date range, the Risk Status Console highlights potential loss, risk assessment score, and real-time compliance testing and issue status for each defined enterprise risk. The Risk Status Console provides a single repository to monitor a company’s enterprise risks and gives management visibility over the risk management process as it pertains to a company’s performance objectives.
Risk Heat Map
Risk Heat Map highlights risk universe coverage based on priority and groups a company’s defined enterprise risk universe based upon several filter criteria – highlighting the company’s risk exposure across two perspectives: Probability/Impact and Development/Impact. The Risk Heat Map provides management visibility over the risk definition process and highlights risk universe coverage based upon its prioritized risks.
Key Risk Indicator (KRI) & Loss Event Data (LED) Manager
Key Risk Indicator (KRI) & Loss Event Data (LED) Manager provides real-time monitoring for key risk indicators (KRI) or loss event data (LED) related to each enterprise risk. Based upon defined conditions or events detected with 3rd party systems (e.g., consolidation, ERP or other), Trintech’s Unity can automatically initiate Issue Action Plans, assign appropriate responsibility in order to assess the situation and ultimately manage the issue to resolution. This enables management to improve and focus operational risk management activities based upon 3rd party real-time system events.
Risk Assessment Survey
Risk Assessment Survey performs an enterprise-wide risk assessment via a survey methodology. Managers are able to quickly evaluate supplied information to pinpoint potential problems or assess internal / external factors that have the potential to impact a company’s performance. The Risk Assessment Survey provides a consistent methodology for the collection of first-time and subsequent risk data across the enterprise.
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