Data quality in loss reporting has
been identified as a prime industry concern. Using
Optial helps people do the right thing, by providing
a simple one-page form for loss reporting, including
features such as tool-tip style quickhelp, dropdown
lists contextual to the right part of the organisation,
automatic defaults and derivations. Workflow is
set up to suit your individual needs and will typically
include a risk assessment and approval process,
routed to suitable risk managers via their role
allocation.
Optial’s flexible platform approach to Basel
II software means that an institution can
define their own fields in the loss database,
in addition to the standard required fields such
as Business Lines and Event Types. Like all items
within Optial, an unlimited number of additional
fields can easily be defined in configuration,
requiring no programming.
Built-in reporting allows you to identify trends
and perform analysis, with the ability also to export
to external tools such as Excel. Loss Events also
form the basis for automated Key
Risk Indicators (KRI), including the number and
value of Loss Events at each business unit with aggregations
up the organisational structure. Additional reporting and analysis is available in the integrated Optial Business Intelligence (OBI) module. |
