Risk Management

Identify, assess, monitor and mitigate risk throughout your organisation

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Risk Control Self-Assessments

Manage your Risk Control Self-Assessment process via our standardised risk and internal control framework.

The Optial platform is ideally suited to support your organisation’s Risk Control Self-Assessment (RCSA) activities. Our Risk Management and Compliance Management modules integrate seamlessly to provide organisations with a full suite of tools for effectively managing the entire process.

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.

Risk Registers

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

Some examples include:

  • Straightforward maintenance: update a risk once and distribute to relevant areas of your organisation.
  • Define frequencies to automate the generation of risk assessments.
  • 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.

Risk Assessments

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.).

  • 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.
  • 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.

Key Risk Indicators

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.

  • Set up automated alerts and escalations for breached KRI thresholds.
  • Variety of aggregation methods offered.
  • 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.

Scenario Analysis

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.

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.

  • 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.
  • 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.


Dashboard report showing current status of risk management framework.

Risk matrix report showing distribution of risks.

Risk assessment currently in progress.

List of risks within a risk register.

Configurable Solution

Where the standard Optial module does not exactly match business requirements, Optial's platform-integrated Configuration feature provides what the business wants:

  • Ability to tightly meet exact business needs through front-end configuration, not risky code.
  • Configuration is 100% guaranteed to be backwards-compatible over each Optial software version.
  • Achieve results rapidly, whether for production or proof of concept.
  • Ability to change over time, as business and regulatory drivers change.
  • Low Risk.
  • Cost Effective.

About Optial

  • Specialist provider of advanced IT solutions for Audit, Governance, Risk, Compliance and Environmental, Health & Safety.
  • Well established company. Founded in 2000.
  • Majority owned by a private investment consortium with significant assets.
  • Headquartered in London, UK. Supporting our clients world-wide.
  • Deployment options include on-premise and global hosting.
  • Optial products implemented by Fortune 500 organisations in over 50 countries.
  • Strong team from a wide and varied background, with importance placed on personal integrity, professionalism and fair dealing.
  • Excellent client relationships: flexible, quality approach.
  • Collaboration and excellent customer service are our guiding principles.