The complete functionality of CERRIX was the reason why several of our bank customers started using CERRIX. Our in-depth knowledge of the requirements of Basel II/III and other supervisory authorities makes CERRIX eminently suited for banks.
Several Risk & Control frameworks are supplied by default.
A new mortgage bank is founded on the basis of a business model that differs from the existing one. The entire organisation is set up from scratch. CERRIX is used in this process to develop the High Level Process Designs that are a visual representation of future work processes. This is combined with the Risks, (Framework) Controls and Key Risk Indicators.
This greenfield was able to build everything from scratch, and the approach has turned out to be very useful for the design of company processes.
The bank uses CERRIX for multiple purposes. This is a good example of how different 2nd-line and 3rd-line responsibilities can use the same application. Operational Risk Management periodically evaluates and directs the risk profiles per business unit for the In Control process. In addition, Internal Audit can plan actions and manage the follow-up actions based on work flow. The Model Validation department can manage the quality of the applied calculation models better.
A large number of pension funds and pension providers are already using CERRIX. We have standard process models, dashboards and Risk Control Frameworks.
This business sector pension fund has outsourced its asset management and pension administration to third parties. The risk management process needed to be raised to a higher level of maturity. The risk management committee wanted to further automate the risk process, so that information could be provided faster and in a more structured manner. In addition to risk assessment, assessment of the effectiveness of the Controls was considered particularly important. It was therefore vital for the new risk tool to include support functionality for the Controls Testing process. This enabled better and faster monitoring of Key Controls.
Model validation, data management and an effective Risk-Control cycle are key elements of the ORSA, as part of the Solvency-2 program. With CERRIX, finding an integrated solution becomes possible.
CERRIX supported an insurer with the structuring of its non-financial risks. This included governance, creating a risk control framework and the risk control process.
Municipalities, semi-governmental institutions and the central government work on programs to improve the risk control process. Various control frameworks can be useful for the further standardization of the inspection framework.
A government institution conducts structured government project reviews on request. Using an IT tool, CERRIX helped to make the company process of this institution more efficient and has improved the management information.