Noetzold & Noetzold

User-friendly and Practical Risk Management

Web application

The Opture® risk management system is a web application running on a corporate web server and database. Since risk management data are generally considered sensitive data, the communications and components of the Opture® system can be protected by high-level encryption.

Accessing the System

Users interact with Opture® risk management system through their standard web browser connected to the intranet/internet (possibly through a secure https connection). Users are provided with an individual user name and password to access the Opture® web pages. On the pages they can perform all risk management tasks. The Opture® system contains a highly detailed authorization structure.

Usability of the System

Many clients, especially when developing their risk management functions, appreciate the freedom to gradually enable functions in the user interface because not all users do have the same level of risk management expertise. For example, although risks can be quantified in detail with up to 70 parameters, it is not the intention of central risk management to bother users with those details. Central risk management instead pre-configures the interface visible to common users to contain only essential inputs. Inessential inputs often can be set to default values and/or hidden from the common user. This greatly enhances efficiency and risk management customer's acceptance.

Configuration and Administration

The general risk manager or a representative can individually configure the system according to his/her demands. He/she can also assign user details, such as usernames, passwords, email addresses, etc. and can assign access rights for modules, functions, and data.

Corporate Structure Representation

Risk data can be categorized with respect to several freely configurable enterprise-wide structures, such as corporate units, P&L positions, risk owners, risk categories, etc. These structures are flexible and can represent, for example, hierarchical and/or matrix structures. The structures are also flexible with respect to dynamic changes, for example, due to acquisitions/mergers or restructurings.

Periodic Updating

Periodic updating of risks, opportunities, measures, and factors should be a standard risk management process. The Opture® scheduler can notify risk owners periodically by email alerts that updates are due. Risk owners respond by reviewing and updating their risks.

Gross and Net Risk Effects

Several characteristic quantities that quantify risks are evaluated periodically, e.g. to monitor risk limits. These include, besides standard figures such as Value-at-Risk, Expected Loss, quantiles, etc., several definitions of gross and net risk values, for example, with or without mitigation measures, with or without predefined scenarios, etc.