Operational Risk Management Tool

Discover how the latest operational risk management tools can support your company to implement structured risk management processes that align with industry best-practice.

Highly rated

The Camms operational risk management tool is highly rated by leading analyst and customer review sites, including Gartner, Forrester, Chartis, G2, and Capterra.

Intuitive user experience

Our operational risk management solution has a modern intuitive user interface that enables employees of all levels to feed into the risk management program as part of their daily tasks.

Rapid deployment

Our operational risk management software can be implemented quickly and customized to meet any individual requirements.

Operational Risk Management Tools designed to digitize & automate risk management

  • Identify
  • Monitor
  • Report
  • Control
Interface of operational risk management software for managing environmental incidents, with options to add, remove, and refresh objects involved in the workflow

Build an online operational risk register and use a defined framework to categorize and rate risk, incorporating best practices in risk analysis.

Our operational risk management tool will generate notifications & alerts when Key Risk Indicators (KRIs) reach an intolerable level, enabling risk managers to address risks promptly for business continuity.

Our cloud-based operational risk management solutions enable teams to produce a diverse selection of risk reports including heat maps, bow-tie visualisations, and interactive dashboards.
Our operational risk management software enables teams to build an internal control library and carry out control testing to keep risk within your defined risk appetite.

How do Operational Risk Management Tools work?

Interface of operational risk management software for managing environmental incidents, with options to add, remove, and refresh objects involved in the workflow

Build a risk register

Build an online risk library of potential risks within the operational risk management platform and rate and categorize risks according to their type and criticality.

The Camms operational risk and safety management software solutions offer advanced functionality compared to other operational risk management solution providers as teams can create unlimited risk registers, types, and categories. Use our ORM platform to carry out online risk assessments that feed into your risk register.

Monitor risk & set a risk appetite

Our operational risk management solution enables firms to establish risk identification and set Key Risk Indicators (KRIs) and set risk appetite parameters – to ensure risk levels remain within the agreed guidelines.
Operational risk management tool's risk heatmap and assessment panel
UI of an operational risk management software showing a quick update section with progress on actions

Build a comprehensive control library

Our operational risk management systems offer best-practice workflows and templates to manage risks and controls in line with regulatory requirements including COSO, ISO 31000, and SOX. Within our operational risk management solution risks are mapped to the relevant controls enabling an organizations senior management to understand risk exposure.

Implement Risk Treatment Plans

Our top operational risk management software contains templates to establish an internal process to build detailed risk treatment plans. Automated workflows notify risk owners and facilitate a step-by-step process to address, respond to, and mitigate risk.
UI of an operational risk management software showing a quick update section with progress on actions
UI of an operational risk management software showing a quick update section with progress on actions

Evaluate risk

Our top operational risk platform provides an in-depth overview into your risk profile via a series of dashboards & reports – that can be personalized to each individual user, facilitating effective risk management practices.

Staff of all levels can use our ORM software to easily complete risk assessments and control checks online, and risk professionals, executives, and the board can view comprehensive dashboards & reports on risk levels and risk exposure.

Manage incidents through to resolution

The Camms software for operational risk management also offers best-practice incident reporting capabilities – enabling incidents to be logged online by staff and escalated & resolved quickly. Controls can easily be set to reduce incident rates and risks can be linked to related incidents to ascertain the root-cause and reduce the chance of recurrence.
Configuration interface of an operational risk management software risk management software for managing environmental incidents, with options to add, remove, and refresh objects involved in the workflow

Why choose an Operational Risk Management Tool
from Camms?

Fast implementation

Our operational risk management solutions are implemented at speed to ensure maximum bang for your buck, integrating best practice in risk management. Our typical go live time is on average less than 3 months.

Highly configurable
Compared to other operational risk software our tool is easy to configure, our clients can easily adopt our out-of-the-box best-practice templates and forms and alter them to meet their individual needs.
Built on the latest technology
Our operational risk management (ORM) platform offers risk management functionality built on the latest modern responsive technology, making our platform extremely stable and secure with screens that load in under a second.
Modern user interface

Our leading software for ORM offers a modern, intuitive user interface – enabling firms to embed risk management into their daily operations. Staff of all levels carry out risk related tasks, risk assessments, and control checks online with all data captured in the centralized platform.

Mobile app
Our ORM tool offers a mobile app meaning staff can carry out risk assessments & checks and perform risk related tasks on the go at any location – even without Wi-Fi.
Multiple languages

Our integrated risk management tool is available in many different languages enabling global employees to feed into your risk management tool in their local language to build a consolidated view of risk.

Align risk to business objectives

Our ORM tool offers functionality that allows teams to map risk to organizational goals – enabling firms to take calculated risks to achieve objectives without exceeding their risk appetite and going into the red.

Data security & privacy

The Camms solution for operational risk management is highly secure and is SOC Type 1&2, ISO 27001, and Cyber Essentials certified, demonstrating adherence to best practices in enterprise risk management. Our platform offers role-based access controls, encryption, and audit trails to uphold data privacy guidelines and ensure compliance with regulatory requirements, reflecting best practices in enterprise risk management.

API integrations
The Camms operational risk management software pulls data in from other systems via API integrations – supporting you to consolidate risk related data from other spreadsheets and data sources into your operational risk tool – ensuring a single source of truth for risk data.

Discover more about the Camms
Operational Risk Management Tool

The Forrester Wave™
Governance, Risk & Compliance Platforms,
Q4 2023

Download the recent Forrester Wave report to discover how the top 15 Governance, Risk and Compliance software providers stacked up and uncover the distinctive qualities that we believe set the Camms operational risk management tool apart from other vendors in the industry.

Resources relating to Operational Risk Management Tools

The latest and hottest pieces of content relating to operational risk management tools to keep you in the loop.

Frequently asked questions about
Operational Risk Management Tools

When selecting software for operational risk management, firms must think about who will be using the tool and what data outputs they need to extract.

When scoping out requirements for operational risk management software you must consider:

  • Are there any risk related regulations that you must comply with and how will that affect how you structure your program?
  • How will you to rate and categorise risk to ensure risk is comparable globally?
  • Can the operational risk management tool be configured to meet any bespoke requirements?
  • Can the operational risk management solution offer additional functionality to grow with you and provide more capabilities as your risk program matures?
  • What security & data privacy protocols does operational risk management tool have to safeguard your company data?
  • Can the operational risk software integrate with your other systems and spreadsheets via API Integrations to pull other risk related data into the platform?
  • Which staff need to access the operational risk management software and what data will they enter and what reports & data do they need to view and extract from the tool?

The benefits of utilising operational risk management solutions include:

  • Less time and money spent on risk reporting and admin work.
  • Operational risk and safety management software solutions build a consolidated view of risk across the whole organisation through a series of reports & dashboards.
  • Operational Risk management tools enable the entire enterprise to feed into the operational risk management program as part of daily operations – creating ample risk data to back-up decision-making.
  • Operational risk management tools offer better visibility of an organisations risk profile and risk exposure due to extensive reporting capabilities, interactive dashboards, and data mapping across GRC use cases.
  • Operational Risk Management Software offers a reduction in risk monitoring and reporting costs – improving overall safety and ensuring effective operational risk management.
  • Operational risk management platforms enhance an organisations risk management program, by enabling companies to align risk management to strategic objectives and enterprise performance. 
  • Financial institutions can benefit greatly from operational risk management tools as the frameworks & templates available within the platforms are designed to align with financial services regulations regarding risk management and controls.

When looking for the best operational risk management software:

  • To ensure they are effectively managing operational risks firms should choose an operational risk management tool that is easy to configure as it will cut down costly implementation and set up fees.
  • Choose operational risk management software with limitless risk registers, types, and categories to accommodate a comprehensive risk based approach.
  • Select an operational risk reporting tool that offers instant reports and live dashboards that can be customized to suit your internal requirements.
  • Select an operational risk software solution that links to your other systems to ensure a single source of truth for your risk program.
  • Look for reliable operational risk management tools that offer multiple GRC functionality like governance, compliance, incident reporting, and ESG in the same platform – it is more efficient to manage these functions holistically and integrate the data for enhanced reporting. 
  • Look for a solution that offers third-party risk management alongside ORM to manage supply chain risk.
  • Poor quality operational risk data due to a lack of data governance rules.
  • Managing operational risk data across various forms and spreadsheets leads to discrepancies and inaccuracies.
  • Siloed ORM data located across various spreadsheets creates poor quality risk data, and an inconsistent risk framework that results in inaccurate reporting outputs. 
  • Operational risk programs that rely on manual spreadsheet-based processes and lack automation take more time to escalate and resolve risk.
  • Siloed spreadsheets make it difficult to map risks to the associated controls and risk mitigation measures without substantial manual ORM effort.
  • Firms are unable to assess risk holistically across different sites, departments, and regions due to disparate data and incompatible risk frameworks.

A comprehensive operational risk management (ORM) program will support an organisation to identify, assess, mitigate, and monitor risks associated with internal processes, systems, people, and external events. ORM aims to minimize the likelihood of operational failures, enhance operational efficiency, and safeguard the organisation’s reputation and financial stability. Operational risk programs should also include strategic risks, project risks, compliance risks and third-party risks to ensure all potential risks are managed efficiently.

Access this ROI calculator tool to find out how much you could save in terms of costs and time spent on managing risks if you were to implement an operational risk management (ORM) platform. Simply fill in the applicable details about how you currently manage risk in your company and our ROI calculator will provide high level estimates on the likely time and monetary value you could save by implementing an operational risk tool.

Access our Operational Risk Management Solution ROI Calculator

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