DATASHEET

Archer OperationalRisk Management®

Use Case for Enterprise & Operational Risk Management
The Challenge
Effective management of errors and fraud associated with people, processes, and technology isinherently complex. As organizations grow, the complexity, frequency, and impact of errors andfraud increase. It is very difficult for businesses to manage operational risk due to its complexity
and the speed at which it can develop. Managing operational risk requires an organization to tie
together all the necessary pieces that provide an understanding of the business context of therisk. For risk managers, this undertaking can overwhelm available resources and tax the limits of
their knowledge and understanding of the inner workings of the organization’s business activities.
Risk management teams can counter this by better engaging business managers, the first line ofdefense, in risk management. The first line of defense is best able to identify and manage the risks
and controls within their domain of responsibility.
Without engaging the first line of defense in identifying risk, and using consistent methodologies
and measurements to assess risk, there is no way to provide executive management andthe Board with an accurate and aggregated view of risk across the business so that it can be
managed within the organi zation’s risk appetite.

Overview
Archer Operational Risk Management is a combination of use cases that are core to a typicaloperational risk management program, including: Top-Down Risk Assessment, Bottom-Up
Risk Assessment, Loss Event Management, Key Indicator Management, Risk Catalog, andIssues Management. By integrating these use cases, Archer helps risk managers implement
a comprehensive operational risk management program that provides transparency throughreporting, dashboards, and notification alerts. It also reinforces desired accountability and risk
management culture throughout the organization.
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Archer Operational Risk Management enables you to catalog business processes andsub-processes, document risks associated with business processes, and mitigate controls.
Risk assessments can be performed on a top-down basis through first line of defense selfassessments and through targeted bottom-up assessments. Loss events can be cataloged,and root-cause analysis can be performed and routed for review and approval. Key risk andcontrol indicators can be established and associated with risk and control registers, respectively,and monitored to provide early warning of changes in the organization’s risk profile.

Features• Consolidated view into business processes, risks, controls, loss events, key indicators, and outstanding issues and how they are all related.
• Support for first line of defense self-assessments and top down and bottom up risk assessments.
• Efficient management of self assessment campaigns by second line of defense stakeholders, including necessary workflow to vet and		 challenge first line of defense assessments.
• Capture and perform root cause analysis on internal losses and near misses, and relevant external loss events.
• Understand inherent and residual risk and observe changes in calculated residual risk while rolling up risks by business unit and 				 enterprise risk statement.
• Robust key risk and control indicator program management to provide early warning and remediation.
• Consolidated issues management with a clear understanding at all times of the status of all open remediation plans and exceptions.
• Visibility into operational risk via predefined reports, risk dashboards, workflow, and notifications.

Benefits
With Archer Operational Risk Management, you can:
• Gain a better understanding of risks throughout		 the organization.
• Improve risk management and risk culture by		 engaging business users to take ownership of		 their risks and controls.
• Quickly detect and manage changes in		 risk profile.
• Spend more time on analysis and less time on		 administration and reporting.
• Reduce time required to identify and resolve		 operational risk related problems.
• Reduce audit findings, surprises, loss events,		 and incidents.
• Demonstrate design and effectiveness		 of risk management program.

About Archer
Archer is a leading provider of integrated risk management (IRM) solutions that enable customers to improve strategic decision-making
and operational resilience with a modern technology platform that supports qualitative and quantitative analysis driven by both businessand IT impacts. As true pioneers in GRC software, Archer remains solely dedicated to helping customers manage risk and compliancedomains, from traditional operational risk to emerging issues such as ESG. With over 20 years in the risk management industry, theArcher customer base represents one of the largest pure risk management communities globally, with more than 1,200 customers
including more than 50% of the Fortune 500.
Visit www.ArcherIRM.com.

@ArcherIRM

Archer Integrated Risk Management©2023 Archer Technologies LLC. All rights reserved. Archer and the Archer logo are registered trademarks or trademarks of Archer
Technologies LLC in the United States and other countries. All other trademarks are the property of their respective owners. Archer
believes the information in this document is accurate. The information is subject to change without notice. 10/23 Data Sheet.