Risk Management

The Risk Management module of Aurex is comprehensive and effective in that it lets you identify all the risks and empowers you to take timely actions.

The Risk Management Module of Aurex empowers you to save time and let you experience enhanced convenience when dealing with enterprise risks. It comes packed with a risk library and facilitates convenient tracking of recommendations along with a provision for alert notification. ML-enabled exceptions classification is another benefit that is there.

The Module enables you to do:

Enterprise Risk Assessment
Categorization and Prioritization
Risk Control and Testing
Organizational Health Monitoring
Industry Challenge
  • Lack of availability of a complete and comprehensive risk repository.
  • Exasperating difficulty tracking recommendations and monitoring issues.
  • Expending additional man-hours when it comes to exception scenarios reporting and presentation.
Aurex Solution
  • A compact, comprehensive risk library from which a wide range of risks is selected based on the requirement of the organisation.
  • Convenient tracking of recommendations as all the data are available on a single platform. The application can notify alerts and send follow-up emails if necessary.
  • One-click data availability on Aurex and that too in multiple formats.
Benefits
  • Instant access to a range of industry-specific risks.
  • Risk management capability upgrade with added pace and the ability to leverage the whole gamut of opportunities.
  • Machine Learning enabled exceptions classification.

Workflow

Define business strategy
Identify the significant risks and associated controls
Monitoring risks and controls
Identify the significant risk associated with your BS
Risk aggregation
Define business strategy
Identify the significant risk associated with your BS
Identify the significant risks and associated controls
Risk aggregation
Monitoring risks and controls

Risk Controls

Aurex Internal Controls module, aka Risk Controls module, saves time and accords a greater degree of control and certainty on pertinent matters. With one-click data retrieval and many to many relationships connecting risk and controls, easy impact analysis is facilitated.

Industry Challenge
  • Generally, a manual updating of the Internal Controls Framework is required for each of the controls as to their status.
  • Impact analysis of multiple controls on the verity of risks will involve manual intervention or interference.
  • Tracking and reporting issues is a manual activity.
Aurex Solution
  • As the tester performs the activity, the status of the controls, the phase at which the control stands, and associated data are updated in real-time.
  • Aurex, to simplify the solution, has built in many to many relationships with risk and controls, rendering easier impact analysis.
  • One-click data retrieval with Aurex.
Benefits
  • Save time even as the latest updates provide the relevant stakeholders with a greater degree of control.
  • Save on time. Experience an enhanced degree of certainty.
  • Easy validation enabled thanks to enhanced opportunities to collaborate with stakeholders.

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