Kpmg

How a Global Risk Management Strategy Was Defined and Managed Across Geographies

Enterprise Risk Management Platform – A Big four case study 

Business Problem

Every big enterprise organization faces challenges of Identification & Management of Risks across departments & geographies. Without a platform, it becomes difficult to enforce a standard approach to Risk Management, which is why a big four management consulting firm wanted an ERM platform built to augment their risk consulting services.

Technology Solution

IncubXperts built an Enterprise Risk management Application (ERM). With this multi-tenant, hosted ERM, medium to large enterprises could track, manage and understand their organization-wide risk exposure.

The solution involved building a standard process framework that assists the risk team to identify & record risk, define standard business rules of risk scoring, do risk assessments, allocate mitigation plans, and monitor the mitigation of risks based on a defined schedule.

Key modules of the ERM Solution-

  • Risk Register (Identification, Apply Policy, Approve)
  •  Risk Assessment (Audits, Quantification, Schedule)
  • Risk Response planning (Accountability, Plan)
  • Risk Monitoring (Dashboards, Reminders, Audits)
  • Metrics (Insights on Risk profiles, Risk Exposure, Heatmaps)

Dashboards using Apexcharts.js helped CXOs know the quantitative risk exposure for the company. Workflows ensured that the Risk is treated with consistency. A Bootstrap theme was used to build a mobile responsive User Interface. WebJobs added the much-needed support for the ERM framework. Notifications were sent using emails that had customized templates.

Technology

.NET MVC, Azure, Azure SQL, WebJobs, ApexCharts.JS, Charts.JS, SQL Server, HTML, CSS, JQuery, AJAX, Sendgrid

Business Impact
  • A Risk management platform that aligns precisely with companies Risk Management Strategy/Methodology.
  • The multi-tenant application ensures that client’s data is stored safely and securely
  • Consistency, Standardization, better control, & governance in the risk management process across all the clients .
  • Real-time global view of risk exposure for companies with geographically distributed locations.