Tasso Operation Risk Management Lera Technologies

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Lera Technologies Provides Operation Risk Management Solution (Tasso)

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Tasso Operation Risk Management Lera Technologies

  1. 1. OPERATIONAL RISKMANAGEMENTIdentify, assess and mitigate your risks. Lera Technologies
  2. 2. Operational Risk is the risk of direct or indirect loss which relates to the uncertainty of daily strategic business activities and risk events resulting from inadequate or failed internal processes, people or systems, or from external events. The banking industrys attentiveness of operational risk and efforts to manage it have increased in recent years, driven in part by an growing desire to improve operating competence, lessen earnings volatility, and rationalize the allocation of capital between Banking and financial institutions are experiencing a vast change and facing an environment marked by growing consolidation, rising customer expectations, increasing regulatory requirements, proliferating financial engineering, uprising technological innovation and mounting competition. This has amplified the likelihood of failure or mistakes from the operations point of view – resulting in increased focus on managing operational risks. The downfall of financial institutions has been seen due to frequent Operational Risk losses, with more than 100 reported losses exceeding US$100 million in the recent years. The regulators of banks and financial institutions are expecting a far greater level of insight and awareness by directors about the risks they manage, andA Framework for the effectiveness of the controls they have in place to decrease orSuccess mitigate these risks. The discipline of operational risk is at a crossroads. Despite the industrys attempts to manage operational risk, institutions still have much work to carry out.Lera provides a Comprehensiveand Robust Risk Management, Leras End-to-End Operational Risk Management SolutionMonitoring, and MitigationSolution for Operational Risk Facilitates documenting and evaluating operational risks, definingManagement. The solution controls, monitoring audits, and implementing recommendations and remediation plans. Provides the ability to conduct Risk andincludes risk identification, Control Self-Assessment (RCSA) and track KRIs, thus providingmonitoring, measurement, all the elements required for addressing Basel II compliance.mitigation and reporting. It Ad-hoc reporting, scorecards and role-based dashboards toenables firms to enhance their provide transparency into the ongoing risk management efforts and fetch high-risk areas into focus.competitiveness through Ability to track process ownership, assessment plans,operational efficiencies, early risk remediation status, etc. on graphical charts with real-timeidentification and commensurate information that can be accessed globally.capital maintenance. Ability to drill-down to deeper levels of information and provides an easy way to access. www.leratechnologies.com
  3. 3. Risk Management Life Cycle Identifying & recording an organization’s business structure & risk hierarchies Organization Risk Su p Profiling and ervisory repo interna , regula and dels to rting l risk tory Risk Identification tive o Rep alita tive m Qu tita Risk effe orts like n sk qua sure ri g ortin c perf tivenes contro mea , Ass o repo rmanc s, l tion lida l va d audit Rep dice rt, c e& e essm u rts fa repo stom s ilure l i ce & Risk LERA Mod ng an test i ent Ri sk ORM n Es Mo a tio ba tab tig k se lish nit Mi ris d or ing k gh tal M o n be Ri s ou i the onit ris nch hr ap or ir t i n kt m dt dc e n re g ole ark i ev r a ig n Re nd co s a ntr ra s nc ch sfe s A n ve es g d or -as nd ol s e tra ser e- plu ga se & re s r rol t to niz ss es t n ati ing oc on e s on sr Pr d c vem ilitie i sk an pro rab im lne vu Key Features of Lera ORM Benefits of Lera ORM Key Risk Indicators: Identifies key risks and associated risk thresholds, so Achieve visibility and improve operational that the institution can observe values and identify efficiency. trends that might lead to unacceptable risk. Mitigate operational risk with increased Audit trails: data integrity. Complete, automated audit trails of all data (Time Helps reuse data and reporting capabilities stamps make it possible to view the state of a data item to ensure accuracy and reduce resource at a particular date and time). expenditures. Issues and Action Plans: Quickly and accurately addresses Raises, monitors and reports on issues within the organizational changes. Operational Risk Management environment, as well as Effectively plans future risk assessments action plans need to mitigate identified issues. by strengthening risk assessments and Visualization Capabilities: controls. HeatMaps, Dashboards & scorecards, Bar charts, Maps and Tabular reports Reporting and Alerts: Automation of reports, indicators, and dashboards associated with operational risk management, for internal monitoring or for regulatory purposes. www.leratechnologies.com
  4. 4. About Lera Technologies About Us Lera Technologies is a global IT Solutions and Services Company that offers a wide array of solutions for especially for Banking and Financial Services. Starting from providing solutions for Risk and Compliance, Business Intelligence, Spend Data, Business Process Management, e learning to implementing IT solutions for clients, Lera straddles this entire space. Our innovative solutions deliver measurable value through increased process efficiency thus helping businesses to take faster and better decisions. Clientele Contact Us USA EUROPE INDIA Lera Technologies Inc Lera Technologies Lera Technologies 146, Briar Lane, 229 Arc, Makarios, Plot #1, New SBH Colony, Norwich, 3rd Avenue, Meliza Court, West Marredpally, Connecticut - 06360. 4th Floor, Limassol 3105. Secunderabad-26, Cyprus. India. Tel: +1 (646) 915 - 0640 Tel: +91 40 27700000 Email: info@leratechnologies.com Email: info@leratechnologies.com Email: info@leratechnologies.com www.leratechnologies.com

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