Effectively managing operational risk
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Nasdaq-Bwise is a leading provider of enterprise governance, risk management, and compliance (GRC) software, aimed at helping organizations manage key risks while improving accountability and efficiency. The document outlines various aspects of conduct risk and highlights the main areas of GRC including operational, compliance, and financial risks. It also discusses how technology facilitates risk management processes and emphasizes Nasdaq's long-term commitment to the GRC industry.
Effectively managing operational risk
- 1. NASDAQ – GOVERNANCE, RISK MANAGEMENT, COMPLIANCE
- 2. CONTENTS Masdaq GRC Strategy2 Brief Introduction Managing Risk Framework • Conduct Risk How can technology help manage (Conduct) Risk Lessons Learned in Implementations Conclusion
- 3. WHO WE ARE IGNITE YOUR AMBITION3 Nasdaq –BWise is a global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. NASDAQ TICKER SYMBOL: NDAQ MEMBER OF S&P 500 OUR MISSION > To provide end-to-end solutions supporting an organization’s ability to understand, track, measure, and manage key organizational risks OUR VISION > To help companies to truly be in control by balancing performance with their financial and reputational risks, improving corporate accountability and operating efficiencies
- 4. NASDAQ-BWISE AT A GLANCE 4 The journey to success NASDAQlists 3400 COMPANIES $6TRILLION MARKETCAP 10,000 NASDAQ customers Gartner and Forrester recognize BWise as GRC leader since 2006 >1 million GRC professionals use BWise daily
- 7. CONDUCT RISK StrategicRisk ReportingRisk ComplianceRisk OperationalRisk Internal fraud External fraud Employment practices & Workplace safety Clients, products & business practices Damage to physical assets Business disruption and failures Execution, delivery & process management Conduct Risk ConductRisk
- 8. CONDUCT RISK StrategicRisk ReportingRisk ComplianceRisk OperationalRisk Internal fraud External fraud Employment practices & Workplace safety Clients, products & business practices Damage to physical assets Business disruption and failures Execution, delivery & process management Financial Risk Dimension Reputational Risk Dimension Conduct Risk Dimension
- 9. ALL AREAS OF THE BUSINESS, BUT TYPICALLY … (EXAMPLE FOR FINANCIAL SERVICES) Client-facing processes • Sales & Marketing Processes • Asset Management and Investment Advice • Complaints Management • Front Office Processes Back-office processes • Product Approval • Remuneration & Incentives Program IT assets & processes • IT Assets and IT Processes involved in all of the above processes
- 10. NASDAQ GRC BWise Master Roadmap10
- 11. NASDAQ VIEW OF THE GRC INDUSTRY MAIN AREAS OF GRC Nasdaq GRC Strategy11 Board-related categories Operational Risk categories Compliance Categories Legal Risk Categories Physical Categories Financial Risk Categories Enterprise Risk Management Audit Management Corporate Governance Corporate Social Responsibility Operational Risk Management Financial Assurance & Control IT GRC 3rd Party Management Anti-corruption & Fraud Ethics & Integrity Privacy Management Crisis Management Legal Matter Management Geo-Political Risk Management Global Trade & International Dealings Employment/ Labor Physical Security Management Quality Management Environmental, Health & Safety Management Treasury Risk Management Insurance & Claims Management Credit Risk Management Market Risk Management Financial Crime Risk Management Business Continuity Management Social Reputation Risk Management Regulatory Compliance
- 12. ELEMENTS OF CONDUCT RISK MAIN AREAS OF GRC Nasdaq GRC Strategy12 Board-related categories Operational Risk categories Compliance Categories Legal Risk Categories Physical Categories Financial Risk Categories Enterprise Risk Management Audit Management Corporate Governance Corporate Social Responsibility Operational Risk Management Financial Assurance & Control IT GRC 3rd Party Management Anti-corruption & Fraud Ethics & Integrity Privacy Management Crisis Management Legal Matter Management Geo-Political Risk Management Global Trade & International Dealings Employment/ Labor Physical Security Management Quality Management Environmental, Health & Safety Management Treasury Risk Management Insurance & Claims Management Credit Risk Management Market Risk Management Financial Crime Risk Management Business Continuity Management Social Reputation Risk Management Regulatory Compliance
- 13. ELEMENTS OF CONDUCT RISK MAIN AREAS OF GRC Nasdaq GRC Strategy13 Board-related categories Operational Risk categories Compliance Categories Legal Risk Categories Physical Categories Financial Risk Categories Enterprise Risk Management Audit Management Corporate Governance Corporate Social Responsibility Operational Risk Management Financial Assurance & Control IT GRC 3rd Party Management Anti-corruption & Fraud Ethics & Integrity Privacy Management Crisis Management Legal Matter Management Geo-Political Risk Management Global Trade & International Dealings Employment/ Labor Physical Security Management Quality Management Environmental, Health & Safety Management Treasury Risk Management Insurance & Claims Management Credit Risk Management Financial Crime Risk Management Business Continuity Management Social Reputation Risk Management Regulatory Compliance Market Risk Management
- 14. HOW CAN TECHNOLOGY HELP TO MANAGE RISK?
- 15. OPRISK CYCLE Risk Identification RCSA Loss & Incident Management Action Management Risk Framework Capital Calculation Risk Reporting KRI Management
- 16. COMPLIANCE & POLICY MANAGEMENT CYCLE Regulatory Requirements Risk-based Scoping Policy Creation Gap Analysis Policy DisseminationPolicy Attestation Compliance Assessment Regulatory Alerts Remediation & Risk Acceptance Enterprise Reporting
- 18. THE AUDIT CYCLE
- 19. INTEGRATION – SINGLE RISK LANGUAGE Internal ControlInternal Audit Compliance Risk Management
- 21. IMPLEMENTATION FORMATS 1. RDS BWise Best Practice working system Gap Analysis design document Configuration Go-Live system 2. Spiral Business Design design document System Design design document Configuration Go-Live system 3. BCOE BWise Training trained team Design & Configure working system configuration Go-Live system
- 22. WHY NASDAQ OMX BWISE
- 23. WHY NASDAQ BWISE 27 Company Product Services Long term focus on GRC Industry Leader since the start of the GRC market GRC is an instrumental part of company strategy 100% configurable by client, 100% upgradable Scalable, secure, east-to-use modern platform 100% integrated GRC functions Global implementation partnerships, Transcendent Global implementation teams and support Long-term customer relationships and references
- 24. 28 THANK YOU