Automation of the KPI calculation process
Posted: Sun Feb 09, 2025 4:31 am
Using this project as an example, we can highlight the following successfully implemented tasks within the framework of improving the corporate risk management system and compliance with SOX requirements:
implementation of a single register of all risks and control procedures, as well as the results of their testing and evaluation, with restricted access for more than 300 users;
automation of the existing risk management (ERM) process in terms of risk registration and assessment; with the ability to track the assessment process by each user, as well as the development and approval of action plans;
automation of the process of registration and approval of control procedures, conducting an audit in accordance with the SOX standard by automatically generating an audit perimeter for each business process, with the ability to monitor the progress of the audit by each auditor;
automation of the generation of up-to-date financial and analytical reports and dashboards within the framework of ERM and SOX processes.
Thus, the organization has the opportunity to control the entire process of risk management of the company through a single interface, while each participant in the process works strictly within the macedonia mobile database of their business tasks. And thanks to the ability to receive prompt notifications about any changes by email or mobile phone, the response time to changes in each of the management processes has been significantly reduced. The time required to develop and coordinate new periodic events, such as risk assessment, audit and registration of its results, filling out a self-assessment sheet by automatically generating templates in the system, allowing you to send up-to-date data in the context of the necessary business processes to experts in a couple of mouse clicks, has also been reduced.
Among the unique tasks of the project, one can note the successful implementation of the automatic calculation of the expected annual loss parameter (Annual Loss Expectancy, ALE) using the Monte Carlo method (a numerical method of statistical modeling) in terms of assessing the probability of a threat being realized (Annual Rate of Occurrence, ARO) and assessing the expected possible loss (Single Loss Exposure, SLE).
implementation of a single register of all risks and control procedures, as well as the results of their testing and evaluation, with restricted access for more than 300 users;
automation of the existing risk management (ERM) process in terms of risk registration and assessment; with the ability to track the assessment process by each user, as well as the development and approval of action plans;
automation of the process of registration and approval of control procedures, conducting an audit in accordance with the SOX standard by automatically generating an audit perimeter for each business process, with the ability to monitor the progress of the audit by each auditor;
automation of the generation of up-to-date financial and analytical reports and dashboards within the framework of ERM and SOX processes.
Thus, the organization has the opportunity to control the entire process of risk management of the company through a single interface, while each participant in the process works strictly within the macedonia mobile database of their business tasks. And thanks to the ability to receive prompt notifications about any changes by email or mobile phone, the response time to changes in each of the management processes has been significantly reduced. The time required to develop and coordinate new periodic events, such as risk assessment, audit and registration of its results, filling out a self-assessment sheet by automatically generating templates in the system, allowing you to send up-to-date data in the context of the necessary business processes to experts in a couple of mouse clicks, has also been reduced.
Among the unique tasks of the project, one can note the successful implementation of the automatic calculation of the expected annual loss parameter (Annual Loss Expectancy, ALE) using the Monte Carlo method (a numerical method of statistical modeling) in terms of assessing the probability of a threat being realized (Annual Rate of Occurrence, ARO) and assessing the expected possible loss (Single Loss Exposure, SLE).