5MEYCOR COSO AGMeycor COSO AG includes several activities to be assigned tothe parties involved in the Risk Management process and amethodology project to provide a step-by-step guide.
6MEYCOR COSO AG Fully customizable to meet the organization's needs and corporate culture.
7The Organization Easily define the organizational structure and its related processes,managing web communications.
8Using a fully customizable self-assessment you can get a quick diagnosis of how the current Risk Environment and Controls are perceived.You can quickly identify the items that need to be addressed in order to focus resources.Fully understand your organization's attitude towards risk and how the entity's personnel handles and reacts to risks.
9You can define several Objectives for each process, classifying and assigning themimportance ratings.Strategic objectives can be traced to thehighest organizational level.You can even define a different riskthreshold for each objective.Enterprise Risk Management ensures that Senior Management has a process in place to establish objectives and that the objectives thus selected contribute to the entity's mission.
10with the collaboration of all the areas involved. Events are identifiedwith the collaborationof all the areas involved.Meycor COSO AG includesa sample event databasefor common processes.Internal and external events that affect the entity's objectivesmust be identified and classified as Risks or Opportunities.
11likelihood of occurrence You can estimate theirlikelihood of occurrenceand consequences.Risks are analyzed considering their likelihood and impact in order to determine how they should be managed.
12It is also possible to perform a quantitative loss analysis by identifying the value of theaffected assets.
13An exposure index is set and compared against the acceptable level set bythe organization.
14Senior Management selects the possible answers (avoid, accept, minimize or share), developing actions to align the risks with the maximum acceptable risk and the entity's tolerance to risks.
15several treatment options You can simulateseveral treatment options
16It is also possible to review risks that combined could seriously compromisethe achievement of the objectives.
17You can specify mitigation control activities for each risk and assess their effectiveness(being even possible to audit them later on).If the processes' activities are analyzed,the control activities can be linked directlyto risks.Policies and procedures are set and executed to ensure that the risk response is performed effectively.
18Risk Maps and Reports are published All relevant information is identified, captured and communicated timely and accurately in order toenable the staff to take on full accountability. An effective communication needs feasible channels throughout the entity.Risk Maps and Reports are publishedin such way that each area must takeresponsibility for their risks.
19Each area is accountable BankingCreditCardsMortgagesCurrentAccountsEach area is accountablefor their own risksGeneral Mapw/Controls
20Using the web module you can access all the documents and check whether they wereread, understood and agreed on.
21You can generate reports in RTF, HTML and XLS formats as well as several chartsincluding specific information.
22The Audit team can access the risk informationin a read-only formatin order to definethe Audit Projects.Enterprise Risk Management is thus entirely monitored, being possible to make timely changes when appropriate. This monitoring can be easily performed either through Senior Management activities or independent assessments.
23The Audit Moduleallows you touse Audit Guidelinesto perform the reviewprocess and toreport findings.
24With Meycor COSO AG you can define and manage Action Plans to improve controls.
25Meycor KP – Event Module Record Loss EventsMeycor KP – Event ModuleLegalOS for Operational Risk ManagementRegistrationGenerate the control documents necessary to report to Senior Management, to the Operational Risk Committee, and to any areas involved.TransfersCollectionSRWithdrawalsMeasure/AssessCustomer ServiceKRIITRisk UnitMeycor Delphos
26Different areascan report loss eventsto identify possiblechanges to therisk assessment.
27automatically from the You can define KRI(Key Risk Indicators)that can be populatedautomatically from theEvents Module.
28For further information: Request a free assessment of your organization's Risk Management Maturity Level to