OMNINET introduces OMNITRACKER Risk Management Center application for legally required automation of operational risk for financial and credit institutions. Our software product can be easily adapted to the specifics of your organization and your risk management business processes.
On October 1, 2020, Regulation of Bank of Russia No. 716-P “On Requirements for the Operational Risk Management System in a Credit Institution and a Banking Group” entered into force, which covers, among other things, the following areas
- operational risk management procedures;
- a classifier of operational risk events used in the operational risk management system;
- event database;
- control indicators of the level of operational risk.
The operational risk management system has to be brought into compliance with the requirements by January 1, 2022.
The OMNITRACKER Risk Management Center application covers all the requirements of the Bank of Russia for such automation. Our software product includes, among other things, the following functionality:
- identification and classification of risk events;
- analysis and prioritization of risk events, as well as financial consequences;
- risk lifecycle management, including automated tracking of key risk indicators at each stage of the lifecycle;
- use of template and creation of own measures and action plans, involving the use of various strategies – avoidance, minimization, acceptance, transfer;
- automated generation of all necessary reports in accordance with the requirements set out in the Regulations.
OMNINET consultants are ready to assist in the audit and methodological preparation prior to the implementation of the operational risk management automation system.