Managing Operational Risk.Global competition and the rise of e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. have propelled many companies into uncharted risk-management territory. Two new products are available to help them.Ernst & Young and J.P. Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. have teamed to launch Horizon, a web-based software tool designed to provide a clearer picture of potential operational risks. It replaces paper-based risk assessments with automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. controls and procedures that can be monitored from a single location. Its standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. platform also makes it easier for management at all levels to identify, articulate articulate /ar·tic·u·late/ (ahr-tik´u-lat) 1. to pronounce clearly and distinctly. 2. to make speech sounds by manipulation of the vocal organs. 3. to express in coherent verbal form. 4. and understand risks. For more information, visit www.HorizonCSA.com. RiskOps 2.1 from NetRisk offers modeling and database management capabilities. Originally targeted to financial institutions, RiskOps databases can be adapted to accommodate the needs of corporate finance departments as well. Data can be scaled using multiple criteria to reflect the size, product mix and controls of the user's organization. As units are added or divested, users can show the impact on the operational risk profile using drag-and-drop navigation. |
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