MetricStream - Enterprise Risk Management Software

Identify and define business objectives, processes, products, risks, and controls, and establish and maintain relationships across these data elements leveraging the federated and centralized data model. Document and manage a wide array of enterprise risks and associated details such as risk description, category, hierarchy, and ownership using a centralized library and risk framework.

Plan, schedule, and perform risk assessments in a streamlined manner. Manage simple assessments by rating a risk, or advanced multi-dimensional assessments using 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. Once the assessments are complete, route the results for review and approval. Define risk treatment plans to accept, avoid, transfer or optimize risk.

Define controls as per industry standard frameworks like COSO and COBIT. Design control test plans and assessments and rate the operational and design effectiveness of the controls, leveraging questionnaires and surveys as required. Understand the control evaluation status and analyze the results using interactive dashboards.

Measure and track key indicators for risks (KRIs), controls (KCIs), and performance (KPIs). Set thresholds to identify potential threats and mitigate them in advance. Send alerts and notifications on any breach to relevant personnel for faster decision-making.

Leverage AI/ML to quickly identify issues based on relevance, relationships, and criticality, and recommend issue classification and action plans. Create action plans such as control modification or definition of new controls as part of the issue remediation process. Stay updated on the status of implemented actions at every stage and track them to closure.

Gain a 360º view of risk and trends through interactive executive dashboards and advanced visualization of key metrics to help you respond faster to emerging risks or changing risk profiles. Access real-time information on risk management systems across the organization through role-based landing pages with graphical dashboards and charts.