MetricStream’s ORM software tool lets you plan, schedule, and perform both top-down and bottom-up risk and control self-assessments. It enables simple risk analysis and assessments by rating risks, and advanced assessments using multiple parameters and risk scoring to meet variations in risk assessment methodologies across business units, regions, and products. Also, the operational risk management framework helps you assess the overall control environment based on multiple factors. You can aggregate risk scores using a weighted average method where weights can be given to multiple dimensions including organization, objective, product, process, assessable item, or risk hierarchy for improved and accurate risk visibility.
Risk analysis and computations are based on configurable methodologies and algorithms for inherent impact and likelihood. Risk assessment criteria include impact, likelihood, controllability, and other determinants as well as weight-based assessments of risk criteria values for use in combined valuations.