Risk Management

Wizly Risk Management Solution

Wizly Risk Management

Organizations encounter Risk each day as they pursue their Strategic Objectives and must decide the level of acceptable Risk, in pursuing these Objectives.

Enterprise Risk Management (ERM) and Decision Making are not isolated from Strategy, Planning, or day-to-day Decision Making. ERM is an integral part of an Organization’s culture along with the process of decision making in order to attain Organizational Objectives.

Regulators and other Governing bodies are also calling for better descriptions of Organization’s Risk Management Processes. Legislation such as GDPR, have underscored the importance of having good Risk Management Processes in place.

The Wizly Risk Management Solution is based on the PRISE© Methodology, a best practice methodology for Strategy Execution. PRISE© integrates Processes, Risks, Initiatives and Strategy to ensure successful Strategy Execution.

The methodology provides a replicable roadmap to Strategy Execution, and takes us from the “What to the How”. It addresses the pitfalls of having different Management Frameworks run in silos, independent of each other and it provides a holistic view of all management information enabling better decisions.

Wizly Capabilities

Designing Risk Management without defining your risk appetite is like designing a bridge without knowing which river it needs to span. The Wizly Risk Management Solution encompasses all the building blocks for successful ERM execution.

It ensures that Risk Management is reflective of the Organizational Strategy, including Organizational Objectives, Business Plans, and Stakeholder expectations. It aligns Risk Management to all key aspects of the business, while considering the skills, resources and technology required to manage and monitor risk exposures in the context of risk appetite.

In addition, the entire Risk Management process from risk identification, risk acceptance, treatment, and risk mitigation actions can be easily automated in Wizly. The risk audit process can be enabled in Wizly, and all related documents and other evidence can be managed via the configurable workflow. Risk monitoring on an exception basis, as well as monitoring of controls provide Insight into the Risk Management Process.

Benefits

» Supports the Entire Risk Management Cycle
» Align Risk Profile to Business Requirements
» Strategy Aligned Risk Management
» Align Risks to Processes
» Align Risks to Initiatives
» Flexible Risk Measurement
» Track Risk Mitigation Plans
» Align and Monitor Controls
» Automate the Risk Audit Process

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