CAREweb for ERM & ORM

CAREweb for ERM & ORM is a powerful component of AIGC's CAREweb System, specifically designed to empower businesses to dynamically manage their enterprise and operational risks while achieving strategic goals. The solution fully complies with Risk Management frameworks and standards, utilizing state-of-the-art technology to help decision-makers define their risk appetite, accurately assess their organization's current risk standing, and allocate resources to mitigate risks effectively.

CAREweb is a revolutionary software solution designed to help businesses identify, assess, and manage risks more effectively. 

CAREweb is the premier choice for ERM and ORM, offering a variety of features and benefits, including:

• Customized risk libraries: CAREweb allows you to create customized risk libraries that are tailored to your specific industry and business needs.
• Risk assessment and analysis: Our software makes it easy to conduct risk assessments and analysis, allowing you to identify and prioritize risks.
• Risk monitoring and reporting: CAREweb provides real-time monitoring and reporting, so you can stay on top of your risks at all times.
• Collaboration and communication: Our software enables collaboration and communication among teams, ensuring that everyone is on the same page when it comes to risk management.
• Integration: CAREweb software allows integration with systems to capture and centralize risk data. Having a centralized database allows the creation of inclusive and comprehensive dashboards and reports.

CAREweb for ORM is a multilingual system designed to protect organizations against operational incidents and help them reach their goals. It is used by numerous well-known organizations in the Middle East, including 30 of the major banks operating in Saudi Arabia, Jordan, Algeria, Lebanon, Syria, and Palestine.

• Diary Module: Facilitates monitoring and following up on the implementation of agreed recommendations in accordance with the pre-approved action plans. It also allows for measuring the impact these recommendations have on the Control environment.
• Event Tracking Module: Provides a full "event capture" functionality along with Risk Prediction Capability. This allows for compliance with Basel Operational Risk Requirements and the setup of a process for Capital Adequacy monitoring.
• Control and Risk Self-Assessment (CRSA) Module: Gives managers full responsibility for risk and control identification, assessment, and monitoring, and plays an important role in the control evaluation process. Residual risks are quantified to identify weaknesses at the entity, product, or process level.
• Corporate Governance Module: Generates a suite of standard reports and charts for senior management and the board on the status of the control environment for the organization as a whole.
• Risk Appetite Module: Allows for the identification of risks that exceed the organization's predetermined appetite limits for various risk categories.
• Risk Explorer Module: Allows for the in-depth analysis of risks, controls, events, and recommendations, as well as the generation of tailored reports and export of results in different formats.
• Email Alerts Module: Sends or escalates automated email alerts for identified exceptions, which are defined by the user. These include, but are not limited to, overdue compliance tests, controls that are "sometimes" or "never" working, outstanding remedial actions, KRIs above threshold ranges, etc.
• Key Risk Indicator Module: Allows for the automatic capturing of KRI data from numerous organizational systems and the definition and measurement of KRI thresholds for proactive monitoring of key organizational risks.
• Loss Prediction Module: Utilizes a proven mathematical algorithm called “Monte Carlo simulation” to simulate the likelihood of operational losses occurring in the future, allowing for the identification and prioritization of the most critical risks.
• Risk & Control Self-Assessment (RCSA) Module: Allows for the identification and assessment of risks and controls at the entity, product, and process level.
• Risk Event Management Module: Provides a full "event capture" functionality along with a Risk Prediction Capability.

Designed to empower businesses to dynamically manage their risks and achieve strategic goals. With live metrics and historical data, CAREweb for ERM is compliant with risk management frameworks and standards and utilizes state-of-the-art technology to aid decision-makers in defining their risk appetite, accurately assessing the organization's current risk standing, and allocating resources to mitigate risks effectively.

• Scenario analysis: Experiment with fast what-if calculations to determine the likely effect of control enhancements and changes in exposure levels on the organization as a whole or on a particular unit within the organization.
• Understanding and Categorizing Controls: Differentiate between preventive, detective, corrective, and directive control types. Gain the ability to define and report on various control categories, enhancing your organization's risk management and internal control framework.
• Resource Monitoring and Control: Efficiently track and manage your organization's resources by implementing processes and systems designed to optimize their utilization. By monitoring and controlling resources, your organization can ensure the proper allocation and usage of assets, personnel, and time, ultimately enhancing performance and achieving desired objectives.
• Many-to-many matrix: Capture the complex and dynamic relationship between risks and controls through an advanced many-to-many risk and control matrix.
• Flexible configuration: Configure features and functions to suit your organization's specific needs and preferences.
• Learning from loss events: Learn from loss event data to update risk registers and decide on the required remedial actions, as well as predict future losses and apply what-if scenarios to examine the impact of control enhancements on predicted losses.
• Tailored graphic visualization: Tailor the dashboard content by including or omitting graphs and changing their settings to continuously monitor the organization's risks and control environment.
• Extensive reporting options: Choose from a selection of report categories to send concise formatted reports to line management, senior management, and the board.
• Third-party software compatibility: Fully compatible with Microsoft applications, allowing for easy import and export of data.
• Heat map: Produce graphical presentations of residual and inherent risks to quickly identify major potential threats and take remedial actions accordingly.
• The gap in the control environment: Measure the gap between inherent and residual risks to identify weaknesses and prioritize remedial actions.
• Risk Appetite Module: Allows for identifying risks that exceed the organization's predetermined risk tolerance levels. This module enables organizations to set specific thresholds for various risk categories, ensuring that they are aligned with the company's strategic objectives and overall risk management framework. By monitoring and managing risks that surpass the established risk appetite, organizations can make informed decisions, effectively allocate resources, and implement appropriate mitigation strategies to maintain a balanced risk profile.

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Take action toward your company’s efficiency now, meet with our expert team to learn more.