Products for non-finacial institutions SWORM
SWORM®
Operational risk belongs
among financial risks that are the most difficult to capture since it may have
many causes: failure of human factor, technology, IT system and natural
disasters. Until now, companies focused mainly on preventive measures but
responsible operational risk management necessarily requires the knowledge of
the structure of operational risk events and the amount of losses resulting
from them.
In connection with
operational risk management you certainly address various issues, among others:
- lack of data for operational risk management
- demanding process of treatment of existing operational risk events
- lack of work capacities
- changes of intra-company procedures
- application of new methodology for operational risk management
- assessment of efficiency of insurance
- preparation and testing of a business continuity plan
- determining the optimal level of investments into preventive measures
- difficult orientation in regulatory rules
What is the
purpose of SWORM®?
The software was designed
to collect information necessary for a comprehensive measuring and management
of operational risks and for its subsequent processing. It consists of several modules. Each module is designed to address
a different area of measuring and managing of operational risk. The client has
the possibility to purchase either only selected modules or the entire
application which will enable him a comprehensive measuring and management of
operational risk.
to
collect operational risk (incidents)
to
assess operational risks
to
set up and communicate preventive measures
to
monitor factors influencing the level of operational risk
to
establish and communicate business continuity plans of key areas
to
record insurance premiums and assess the efficiency of insurance
to
analyze operational risk
to
prepare reporting
What is the contribution of SWORM®?
- better overview of operational risk events
- improvement of operational risk management system
- decrease of the number of operational risk events
- decrease of losses from operational risk events
- improvement of insurance programs of the institution
Benefits
- all information about operational risk in one system
- user friendly solution
- intuitive control
- possibility to use help
- access via a web browser (intranet application)
Security
- user account
- user rights
- monitoring the history of all changes in the database
- archiving of all versions of records about operational risk events
Compatibility
- by ensuring compatibility of SWORM® with any company systems (possible customized import of data from accounting systems, security department systems, etc.)
- low requirements for technical equipment of the company
- adequate requirements for system resources
Technical solution
- application developed in ASP . NET
-
- database application Microsoft, SQL Server 2005
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