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Solutions  > Risk Management

Risk Management

Identify, assess, monitor and mitigate risk throughout your organisation


Risk Registers

Identify, store and share Risk data in a consistent and methodological manner across the organisation. 

Risk Assesments


Automate the process of capturing inherent, residual and target risk evaluations, as well as other relevant assessment data.


Key Risk Indicators

Establish KRIs to provide an early warning of potential changes to risk exposure. 


Scenario Analysis

Define possible risk scenarios, and capture the possible impact, probability and cost associated with a risk event.

The Optial platform's flexibility enables different approaches to the structure of risk registers, dependent on the your exact requirements.

Some examples include:

  • Hold risk registers centrally or grant individual departments authority to define their own registers.

  • Add attachments and link a risk record to key controls, loss events and other data.

  • Straightforward maintenance: update a risk once and distribute to relevant areas of your organisation.

Risk Assesments


Automate the process of capturing inherent, residual and target risk evaluations, as well as other relevant assessment data.

Risk assessments can be automatically generated based upon a frequency, or created manually on an ad-hoc basis (due to a change in your control environment, an external regulation change, etc.).

Some examples include:

  • Risk assessments automatically assigned to the relevant individual within your organisation.

  • Completely customisable risk assessment workflow.

  • Support for any kind of risk assessment matrix, including multiple matrices for differing business areas.

  • Automatically generate email notifications, reminders and escalations for incomplete risk assessments.

  • Record impact, likelihood and exposure values at an inherent, residual and target level of risk.

  • Support for multiple impact types, quantitative assessment values and assessment commentaries.

Optial provides the ability to establish, maintain and track over time various KRI's, as well as other metrics such as KPI's (Key Performance Indicators), KCI's (Key Control Indicators), etc.

  • No limit to the number or type of KRIs that can be created.

  • Values can be manually entered, derived from other information within the application, or automatically added via an external feed.

  • Set up automated alerts and escalations for breached KRI thresholds.

  • Variety of aggregation methods offered.

Define potential risk scenarios, determine the possible impact, probability and costs associated with a risk event and determine mitigation techniques.

  • Associate with the scenarios potential probability, impact, costs and any other related data.

  • Understand best and worst case scenarios based on impact/probability ratings and annual probability percentages.

  • Capture and review justification text for all assessments.

  • Define and analyse a variety of risk scenarios.

  • Each scenario underpinned by a comprehensive workflow, mirroring your own business processes.

  • Quantitative assessments made in terms of expected loss amounts in best and worst cases.


Key Risk Indicators

Establish KRIs to provide an early warning of potential changes to risk exposure. 

Risk Reporting

The wide range of reporting options within the Optial platform gives you a complete overview of both the current status and the historical trends of your data.

  • View your data via dashboards, trends, heat-maps, radars, bar charts, line charts, grids, tables etc.

  • Produce structured management reports or external regulatory reports in one click.

  • Save frequently used reports to your personalised “Home” screen within the application.

  • Self-service reporting available via a comprehensive list builder tool and advanced search functionality.

  • Reporting layer fully respects underlying access control, ensuring that all users can utilise reporting functionality.

  • Drill-through functionality available on all reports to view underlying business data.

  • All reports can be exported into a variety of formats (PDF, Excel, Word etc.).

  • Schedule reports to run based upon set frequencies to minimize manual intervention.

  • Reporting layer optionally accessible via your own Business Intelligence tools, including SSRS, Tableau, QlikView, COGNOS, SAP etc.

  • Multi language reporting is supported: the user can see report data in their native language, if required.

Business Value

The key benefits of the Optial Enterprise Risk Management module include:​

  • Fully configurable solution to suit a variety of established frameworks and regulatory requirements, e.g. COSO ERM, ISO 31000, Basel II, Solvency II, Sarbanes-Oxley etc.

  • Drive accountability throughout your organisation by ensuring visibility of data and providing automated email notifications, reminders and escalations.

  • Integrate seamlessly with other Optial modules (e.g. Compliance Management, Incident Management, Business Continuity Management etc.

  • Full audit trail keeps track of every update, showing who made what change, and when.

  • Full suite of reports ranging from user defined lists, to heat-maps, trends and fully interactive dashboards.

  • Complete control of how your organisation hierarchy is represented within the application and the roles and responsibilities defined in each entity.

  • Flexible workflow engine tailors the application to encompass your organisation's real world business processes.

  • Interface with existing software solutions to reduce data duplication.

  • Attach action plans to any data item to ensure mitigation requirements are fully tracked through to completion.

  • Flexible data export options enabling Optial data to be utilised in quantitative calculation programs, external business intelligence tools etc.

Image by Kalen Emsley

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