How TIBCO Nimbus Helps Deliver Sustainable
Operational Risk Management and Compliance
Sustainable Operational Risk
Management and Compliance
UNDERSTAND AND GOVERN YOUR BUSINESS
Until now, process mapping activities dedicated to Operational Risk (OpRisk)
have provided little long-term return on investment. This is because content
isn’t properly maintained and governed after its initial use. Once the content
is used for a study, it’s forgotten about.
The “design, operate, monitor, improve” approach of TIBCO Nimbus®
different because it places governed business processes at the heart of an
approach to sustainable, cost effective OpRisk and compliance.
The Regulatory Squeeze
Worldwide, regulators are showing increasing interest in financial organizations, particularly in regards to OpRisk and the associated
processes and controls.
The implications are clear. Companies need to embed OpRisk control, measurement, and incident reporting as part of day-to-day
operations. However, determining which business controls are relevant relies upon a clear view of the operating model.
Design, Operate, Monitor, and Improve
A derivative of the “Plan, Do, Check, Act” (PDCA) continuous improvement cycle, this methodology is pragmatic, quick to implement,
and cost effective. It ensures that OpRisk control is deployed as part of day-to-day operations. Nimbus provides the key capabilities
that support this methodology:
Design: Design processes and controls in unison. Link process activities to risk, business controls, and applicable compliance
requirements. Establish control certification and reporting regimes. Define system requirements.
Operate: Deploy the resulting operating model to staff and ensure adoption. Streamline certification of controls by required
Monitor: Unify control monitoring and metrics. Lower the cost and effort involved for operational staff and line managers, as well as
OpRisk and compliance specialists.
Improve: Use performance metrics and collaboration capabilities needed to drive operational improvement. Govern the required
changes to the operating model. Initiate process and control improvements.
By placing a governed repository of the “live” business processes at the heart of the OpRisk approach, it becomes easy to keep it up
to date and significantly improve its efficiency and sustainability, and to roll out improvements through iterative, governed changes.
Nimbus makes operational processes, controls, and related performance metrics visible together in context, providing a better
understanding of what should be done, what was actually done, how well it was done, who else it affected, and the impact on the
Benefits Delivered Across the Organization
For the CEO & CFO
• A common operational business model – deployed and live across the business. Drive adoption of strategic initiatives.
• Confidence that OpRisk and compliance is at the heart of the business and effectively managed.
• Reduced risk of damage to reputation.
• Reduced cost for operational risk management and compliance.
For the COO
• Complete visibility from top level strategy to operational processes with accountability at all levels for operational control
• Efficiency savings across operational departments.
• Clarity of how OpRisk requirements are deployed and cascaded throughout.
• Change can be rolled out with the confidence that all stakeholders are aligned and informed.
• Improved ability to sustain OpRisk and compliance yet maintain operational agility.
For Risk and Compliance Officers
• Reports and alerts to help you focus attention where it is needed more quickly.
• A common operational platform facilitates collaboration between OpRisk, compliance, and change management specialists.
• A contextual view of process, risks, controls, and metrics that highlights which processes and controls are under duress and
who is involved.
• Manage change to regulatory frameworks, with affected processes, roles, risks, and business controls clearly visible.
• A process-centric view shows roles and competencies required against the controls and compliance framework.
For Operational Managers
• Roll-up reporting is automated, saving significant time previously wasted chasing people.
• Faster, less invasive approach to control certification.
• Minimized costs and disruption of change.
SuStainable OperatiOnal riSk ManageMent and COMplianCe