A number of key questions arise as a result of the Basel Committee and Corporate Governance requirements for which bank boards and management are responsible:
There are many potential risks, which can threaten an organization. A systematic approach is required to identify where the risks lie, what controls should be implemented to mitigate them, how effective the system of internal control is in mitigating those risks and which risks can be accepted based on the Bank’s assessed appetite for risk.
Aldar International for Governance Consultancy has adopted a unique software (Control And Risk Evaluation CAREweb™) which meets all the requirements for Operational Risk Management noted above. The software provides a systematic, consistent and effective approach to the recognition of operational risks, the effectiveness of internal controls in mitigating those risks and to the measurement of the bank's operational risk profile. It provides reports which enable the board and management of a bank to understand the bank's operational risk profile, determine where improvements and enhancements to the control environment are required, prioritize such changes and measure the results. Above all, CAREweb™ is extremely flexible to meet the needs of individual organizations.
For more information about CAREweb™, please Click Here .