CSI has developed its own Risk management system called Risk Guard which is an innovative risk management system for mitigating risk and meeting regulatory compliancy. Tremendous creativity and insight has been applied in the creation of the Risk Guard risk management framework. It applies the Integrated Financial Architecture Infrastructure pattern, where risk is managed on an integrated and enterprise-wide basis.
The Risk Guard enterprise risk management system offers value far beyond an opportunity to reduce regulatory capital. It provides financial institutions with a comprehensive process that will enable them to understand quantify and manage enterprise risk in a structured manner. Risk Guard is a comprehensive solution that includes a framework for managing enterprise risk, a method of documenting and correcting the weaknesses in business processes and an efficient reporting suite that will deliver tailored relevant information to all levels throughout the organization.
Risk Guard is designed to seamlessly integrate and disseminate financial data across the organization. CSI Risk Guard system focuses on the dynamic environment in which the risk occurs; this environment includes the interaction of five key areas:
- Business Strategy
- Business Environment
The development and implementation of integrated approaches to measuring and managing risks across the enterprise, also known as enterprise risk management or ERM has four stages, which are:
- ERM Foundation Setting
- Risk Identification & Assessment
- Risk Measuring & Reporting
- Risk Mitigation & Management