ERM Methodology Advisory & Support
Enterprise Risk Management (ERM) is the ability of an organisation to know, understand and manage the nature and level of Risks that threaten the realization of the company's mission and objectives by taking responsibility for the Risks and activities that aim to maintain stakeholder trust.
The basic concept of ERM is now used for about 20 years in various industries. Changing regulations, economic turmoil and the increasing complexity of products,
tools and the Risks, together with other influences, have contributed to ERM being more often placed in organisations. But ERM is still at an early stage of
development. The successful realization of ERM can only partly be designed based on theory. Practical experiences are essential to avoid being caught in already
known pitfalls.
ERMAC solutions has built up that experience over the past 30 years by realizing a structured approach to identifying, measuring, controlling and
reporting on the important Risks to which an organisation is exposed. Specific Risk management areas (e.g. credit, operations, market), capital management and
liquidity management provide the essential foundations of an ERM framework.
We offer comprehensive services in governance, enterprise risk management and regulatory compliance to ensure
your organization is equipped to handle todays
and tomorrow’s challenges.
Our expert advice and interim management support covers
IBM Services
IBM OpenPages with Watsonx is an AI-driven, highly scalable governance, risk, and compliance solution. It centralizes risk management functions into a single environment, enabling efficient identification, management, monitoring, and reporting of risk and regulatory compliance.
IBM OpenPages with Watsonx serves as the catalyst for further enhancement for organizations already equipped with robust Enterprise Risk Management (ERM), Non-Financial Risk (NFR), or Governance, Risk, and Compliance (GRC) frameworks.
Leveraging our on-Cloud solution, you can optimize existing processes, unlock deeper insights, and maximize the benefits. With the added advantage of Watson AI integration, our offering ensures cost-effective solutions that drive overall efficiency and effectiveness, enabling informed risk decision-making and fostering operational excellence.
IBM OpenPages with Watsonx tailored out-of-the-box solution is the ideal starting point for organizations in the early stages of risk management maturity.
With rapid implementation, cost-effective deployment and comprehensive support, IBM OpenPages accelerates your journey towards effective risk management. By providing greater visibility, actionable insights, and streamlined processes, our solution empowers you to navigate risks confidently, driving organizational resilience and growth.
We offer the following services
Our implementation approach
Our implementation approach - deliverables
Assurance – ISAE 3402 Services
We see an increasing demand for service organisations to provide an independent assessment of their internal controls which support the products and services
they deliver to their customers.
For service organizations, having an ISAE 3402 report can enhance their reputation and provide a competitive edge by demonstrating a commitment to high
standards of control and security. ISAE 3402 reports can also efficiency provide assurance to different customers with the same need, preventing repetition of work
to provide such assurance.
Customers (and their auditors) seek assurance that their service organisation(s) have a mature internal control environment in place that ensures the
confidentiality, completeness and accuracy of the information they process and that services are delivered consistently and securely. This concerns information &
services that support the customer’s financial reporting process.
For customers and their auditors, ISAE3402 reports provide confidence in the service organisation’s control environment, which can be crucial for maintaining and
attracting business.
ISAE 3402 assurance approach
We provide services to deliver an ISAE3402 type 1 and type 2 assurance report.
ISAE 3402 readiness approach
To help a service organization achieve a clean ISAE 3402 report, we also provide a range of services to ensure
the internal
controls are robust and well-documented. Key areas: