Each Key Risk Indicator is either
automatically generated or manually entered. Optial
provides the infrastructure to develop and determine
both of these. KRIs are freely definable and there
is no limit on the number or type of KRIs which
can be set up.
Where the base information for an automatic KRI
is held within the Optial system, for example it
is embedded in the control
risk assessment process or gathered implicitly
in scorecards, Optial can be set up to automatically
generate the KRI values at desired intervals. Example:
number and value of loss events in the integrated loss
database. Institutions can take advantage of
this integrated approach to reduce the time required
for reconciliation or other cross-checking requirements.
Alternatively, where the underlying information
is located in external, typically transaction-based
systems, Optial can link to those systems via standardised
feeds to gather the required information. Example:
number of dealer transactions rejected for exceeding
trading limits.
There may also be situations where the information
is more readily available manually, or where it
is not held in any other system. In this case,
suitably authorized managers can enter the KRI
values directly into Optial, online. Example: number
of days required for month-end closing activities.
Since KRIs can generate large amounts of data,
reporting is particularly important. Optial provides
standard lists of KRI values which are augmented
by additional reports. Multiple aggregation methods
are offered. During implementation we work with
you to identify and set up the most efficient and
effective reporting for your needs. Additional reporting and analysis is available in the integrated Optial Business Intelligence (OBI) module’ |
