Predictive Risk Intelligence™
BlueSuite is the only ERM solution with Predictive Risk Intelligence™ (PRI), an exclusive risk treatment technology developed by Oxial and configured for BlueSuite that includes tools to detect emerging threats.
PRI detects and converts seemingly unrelated control failures into strong signals that alert management to take preventative action and avoid substantial (or even catastrophic) losses.
The Challenge of Operational Risk Management. Globalisation, instant communications and the internet have combined to create a world of complex systems and interdependencies. Black Swan events – which are nearly impossible to predict – are an ever increasing feature of the environment, but even ordinary events have become just as difficult to forecast using existing risk management models.
The current emphasis is for risk managers to minimise, monitor and control the probability and impact of risk events which have been identified and defined periodically; in other words, to be backward-looking and focus upon the consequences, leaving emerging threats undetected.
However, with only a few adjustments to risk treatment methodology and technology it is possible to monitor the effectiveness of risk treatment plans dynamically over time and predict negative trends, as well as to detect and convert seemingly unrelated control weaknesses into strong signals that alert management to take pre-emptive action BEFORE a risk has time to crystallise.
Predictive Risk Intelligence™ is a fully integrated BlueSuite risk treatment technology that radically reduces the probability of operational losses. Innovation and technical excellence, combined with years of practical experience in controls design, management and measurement provided the foundation for Oxial to configure BlueSuite to identify emerging threats.
For more information or to arrange a live demonstration, contact Oxial.
