Enterprise Risk and Compliance Management Software

Predict360, leverages unique mapping and cognitive computing technologies to provide regulatory insight, predict risks and drive operational excellence

What is Risk Management?

Risk Management is the process of identifying potential risks, analyzing them and controlling the associated risks through determining the risks, what are the ways to reduce those risks, mitigating of risks based on a strategy, implementing all the planned methods of mitigating, and evaluating and monitoring of risk management plan to ensure that controls are applicable and effective. Risk management is vital in an organization’s decision making for the fulfillment of its objectives.

The Challenges

• Due to increasing regulations year after year, the cost of doing business has risen to hundreds of billions forcing organizations to automate their GRC efforts to achieve operational excellence and reduce costs. Costs increase substantially when organizations continue to invest more in human resource rather than GRC software.
• Antiquated governance, risk and compliance tools are ineffective in today’s sea of regulations since they were only architected for rudimentary compliance workflows.

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Our Solution

Predict360 is an answer to the governance, risk and compliance challenges faced by organizations today. It is an enterprise regulatory risk and compliance software that vertically integrates multiple modules providing management with optimal visibility into all risk and compliance aspects of the organization.

It can be configured to provide industry specific workflows and tools adapting to the needs of functional managers allowing them to manage their day-to-day risk and compliance tasks to increase efficiency, agility, quality, productivity and a culture of excellence.

Predict360 has unique mapping and cognitive technology to provide regulatory insights and predict risks.

Key Features

Predict360 platform suite is a GRC software specializing in Enterprise Risk and Compliance Management. These modules are flexible and adaptable enough to align risk management with business strategy and create industry specific compliance work flows:

• Regulatory Change Management
• Enterprise Risk Management
• Audit Management
• Case Management
• Policy and Procedure Management
• Learning Management System
• Competency Management System
• Certification and Reporting Management
• Performance Management System
• Vendor Management System

Build, manage and maintain GRC software that increases operational excellence, sustainability and margins.

Five steps to managing Enterprise risk management System

Every bank, big or small has mechanisms to gauge and mitigate risk. Generally, each of these mechanism is focused on the specific banking products or services being sold. However, to ensure a complete understanding of the enterprise risk and be able to make decisions from a portfolio angle, it is important to implement a system that is able to aggregate risks from various departments across the institution and present it in a fashion as to allow for appropriate decision making. Here are 5 easy steps to make it happen….

Step 1:

IDENTIFY all the current department focused, product focused risk evaluation mechanisms in place, whether in-house or external services.

Step 2:

DETERMINE inputs to and outputs from each mechanism, be it manual or automated, as well as the periodicity of the exchange of data.

Step 3:

INSTALL Predict360 Risk Modeling product and use the variety of interface possibilities to link the raw output data from each of the mechanisms to Predict360.

Step 4:

CONFIGURE the model, risk heat map, the risk register and the dashboard. Configure the levels of drill down that is appropriate.

Step 5:

ACT on the analytics based on the enterprise view / portfolio view of the risks across the company.

Author : Adeel

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