KRIeX.org is a web-based environment that provides a set of related subscription services designed to enhance a business’s
ability to identify and monitor real-time risk metrics via an embedded KRI Framework. KRIeX includes an industry generated Library
of risk indicators
KRI Library; an on-line service to support the collection, aggregation,
and management of risk indicators across a corporation
KRI Monitoring; and a benchmarking
platform for internal or external (peer group) comparison
KRI Benchmarking.
The Risk Universe - a world of risk information under your control
There is a new risk information service available to operational risk professionals - The Risk Universe, a brand new publication for the operational risk community, covering a broad range of current and emerging issues relating to operational risk management which, in recognition of the changing role of the operational risk manager, also covers strategic risk, business risk and environmental risk issues.
A digital-only publication, The Risk Universe content is always published with the most up-to-date and interactive content , which you can browse online, download for offline use or even print if you wish. But, The Risk Universe is more than just a monthly e-magazine, it is a living database of risk-related information, breaking news stories and an online community where you can benchmark your firm against industry peers. Browse back-issues, share specific articles, raise risk awareness across the firm.
To access a free, no-obligation three month trial, please visit
www.riskuniverse.com.
The Library also includes a risk analysis framework that allows a subscriber to view and navigate the content via product/service
risk profiles as a means of identifying key areas of operational risk exposure within the firm. These risk profiles map exposures to
individual operational risk categories within various business processes on a risk point basis and represent inputs from more than 70
firms globally, creating
"industry risk profiles". The KRI Library has benefitted from broad industry participation and
input. It is structured by industry type, with financial services covered in detail, although much of the core content is applicable to any
corporation. It constitutes a widely accepted standard in terms of the taxonomy of risk embedded in the framework, how content is accessed
and analysed, and in the specific content of each metric record.
Risk
Business has introduced a companion service to the KRI Library, the Scenario Library, which employs the same structured
framework for identifying areas of operational risk exposure affecting the international financial services community. Subscribers
can now use the KRIeX
industry risk profiles to identify, risk point by risk point, historical public loss events which can
assist the firm in evaluating whether the specific form of risk could adversely affect it; KRIs to measure and monitor its current
exposure to that risk; and now, scenarios to assess potential future worst case exposure.
The KRI Library is a living repository, with additional metrics being added on an ongoing basis, both resulting from peer group
workshops facilitated by Risk
Business and from suggestions and proposals from subscribers. Ongoing research is focussed on
assessing which indicators are the most appropriate for specific risk points by product/service area within the different major
financial services business lines as well as incorporating the control type and causal classification elements of the
Risk
Business Taxonomy Service into the KRI Library.
For more information on the KRI Library or any related Risk
Business Service, contact us at
info@KRIeX.org.
