Risk Management with STRATandGO™
- Risk Management
Monitoring and identification of business risks
Operational risk management comprises all activities relating to the identification, assessment, management (including controls, precautions and measures) and monitoring of all material risks, including reporting. With STRATandGO™, companies have the opportunity to carry out this process effectively.
By using risk management tools and a risk framework, companies can effectively identify and manage their risks. This process not only ensures compliance with all legal requirements for a risk management and internal control system, but also helps to safeguard the success of the company.
Identification of risks and triggers
An important step in the operational risk management process is the identification of risks and their triggers. With STRATandGO™, companies have the ability to successfully identify these risks through internal and external audits, risk assessments and damage analysis. A risk matrix can help categorize and prioritize risks according to their likelihood and impact.
Risk Mitigation Plan
After identifying and prioritizing risks, the company uses STRATandGO™ to create a risk mitigation plan. This contains measures to avoid or minimize risks. This includes, for example, steps for process optimization, training for employees, etc.
Risk tracking and monitoring
With STRATandGO™, organizations can perform regular risk tracking and monitoring to ensure that risks are successfully mitigated. This includes monitoring the implementation of risk mitigation measures and reviewing the effectiveness of these measures. In addition, risk mitigation initiatives can be launched to ensure that risks are continuously reduced.
Overall, STRATandGO ™ offers a comprehensive solution for operational risk management. Companies can successfully identify, manage and monitor their risks with the help of our software. The use of risk management tools and a risk framework not only fulfills legal requirements, but also ensures the company’s success.
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