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Risk Taker Product Presentation V1.0 7th January 2008


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Risk Taker Product Presentation V1.0 7th January 2008

  1. 1. RiskTaker : Business Risk ManagementEnterprising risk management for teams and SME’s
  2. 2. Contents Risk Governance Overview  Why manage risks ?  Risk Maturity  Integrated Risk Management Line Xero Introduction RiskTaker  Award winning software  Reliable hardware  Support Services
  3. 3. Why manage risks ?“A companys objectives, its internal organisation and the environment in which it operates are continually evolving and as a result, the risks it faces are continually changing. A sound system of internal control therefore depends on a thorough and regular evaluation of the nature and extent of the risks to which the company is exposed. Since profits are, in part, the reward for successful risk-taking in business, the purpose of internal control is to help manage and control risk appropriately rather than to eliminate it.”“The guidance is based on the adoption by a companys board of a risk-based approach to establishing a sound system of internal control and reviewing its effectiveness. This should be incorporated by the company within its normal management and governance processes. It should not be treated as a separate exercise undertaken to meet regulatory requirements.”Turnbull Report, September 1999
  4. 4. The Evolution of Risk ManagementPreviously Now  Historical risks only  Non-traditional risks  Expert management  Causes of risk  Statistical analysis  Organisation-wide involvement  Senior management buy-in  Risk indicators
  5. 5. Risk Governance MaturityMaturing• Simplistic framework• Departmental• Limited corporate visibility• Risk exposure may be inaccurate• Mitigation plans may be used to identify priorities Mature • Flexible governance framework • Whole of company • Corporate visibility & control • Risk appetite known & monitored • Use of risk data to drive Immature investments & priorities • Risk management is ad-hoc • Individuals or small teams • No corporate visibility • Appetite & exposure unknown • Risk data not used to drive strategy
  6. 6. Integrated risk management Risk management must be a “whole of company” process  Requires board level buy-in to objectives and methods of risk management  Risks are controlled at the appropriate level within the business, by the most appropriate people  Control & management of risks must be part of the normal business process – not an add-on or afterthought Risks must be balanced at the corporate level  Without risk co-ordination, perceived risks may be blown out of proportion  There must be mechanisms to escalate risks to the appropriate level. The risk management system needs to support the risk process without being intrusive  Intrusion usually results in non-use  Risk co-ordination & challenge processes become “big stick” exercises.
  7. 7. Integrating RM & strategic processes Quantify risk Identify risks Identify risk: Impact & Agree acceptable & understand Related actions mitigation Risk levels origins required Cost/benefit Identify actions Monitor Monitor external UpdateAgree strategic Required & likely implementation & internal Assumptions & goals effects of actions changes goals
  8. 8. Line Xero : Company Overview Formed in 1990 as an IT strategy consultancy Provides IT Design Authority services to a number of FTSE-100 companies Created XeroRisk as a product in 2004  Originally built for United Utilities  Strong take up in asset intensive & regulated businesses  Launched RiskTaker in 2008 Operates e-commerce web application facilities on behalf of several Internet based businesses
  9. 9. Line Xero: RiskTaker Overview Licensing  Easy& flexible licensing schemes  Web based purchasing process ensures no “down time” Support  Dedicated RiskTaker support team – email, telephone and self- service portal options available Maintenance  Clearroadmap – XeroRisk release + 1 month  Maintenance contract to cover support and new releases
  10. 10. RiskTaker: A risk management solution  Fully web based application  Integrates with existing business processes  Simple to deploy  Very intuitive to use  Risks identified, managed & controlled “on the ground”  Corporate exposure valued & monitored through escalation and aggregation
  11. 11. RiskTaker: Functional Coverage
  12. 12. RiskTaker Features Full organisation model support Role based security Fully configurable risk assessment categories & levels Email escalation & notification Full audit trail of all user risk management activities Built in reporting functions include Excel export, graphs etc Support for unlimited risks, organisation units, hierarchy levels
  13. 13. A flexible deployment solution Quick Implementation  RiskTaker doesn’t require installation on each client  Supplied as a pre-configured appliance – simply plug in and go. Reduced support costs  New releases & updates are installed on central servers  Does not impact desktop builds or current security policies True Thin-Client  There are no ActiveX or Java components downloaded to the client  Partners or contractors can be quickly added without IS intervention Low client hardware demands  Only a standard web browser is required for access  Integrates with standard or thin client desktops (e.g. Citrix) Industry leading components  Windows 2003 Server R2 or higher (Windows 2003 R2 Advanced server recommended)  Microsoft SQL Server 2000 (Microsoft SQL Server 2005 SP2 recommended)
  14. 14. Reliable Hardware Dedicated appliance pre-configured with the latest RiskTaker software version  All third party components licensed through the RiskTaker license  Simply plug into your network and run Eliminates expensive server hardware and complex installation  No co-existence issues to complicate the support requirements. Can be upgraded as the business grows  Additional memory and/or processors  Additional licenses to increase RiskTaker users
  15. 15. Support Services Dedicated Support Team  Web portal – Online submission of low priority support requests, access to FAQ’s and upgrades  Phone – Support for urgent requests including hardware failures, software errors and problems with licensing and upgrade services  Email – Dedicated email queue monitored by the support team Hosting Service  If you cannot host your own RiskTaker appliance, Line Xero can do it for you – simply access your RiskTaker over the Internet Licensing Service  Fully automated licensing service ensures additional licenses can be added without waiting for purchase approvals  Temporary licensing possible for short-term projects & programmes. Migration Services  For RiskTaker installations growing beyond the scalability of the hardware, an upgrade to hosted XeroRisk canbe performed  Data is transferred securely from RiskTaker to the hosted XeroRisk installation with no loss of information
  16. 16. Thank you