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Risk Management with SAP: How Compliant Is Your Enterprise?

by Gary Byrne

April 21, 2011

It certainly was a tough, snowy winter this year, as evidenced by a huge pile of snow that sat in the driveway of our office for months. That mountain of snow has finally been reduced to a gray pitcher’s mound as brighter, warmer days arrive. The US economy also is emerging from dark days created by the financial crisis in 2007, as indicated by a recent Reuters news report, and the passage of the Dodd-Frank Act in July 2010 should help a similar crisis from occurring. The key question to ask yourself now is whether your company’s risk management practices are aligned with the requirements of the Act. In her article titled Dodd-Frank Act: Standardize Risk Management Processes with SAP BusinessObjects Risk Management 10.0, Judith Myerson explains how to use SAP BusinessObjects Risk Management 10.0 to ensure that your risk management procedures for the five stages of risk comply with the Dodd-Frank Act’s requirements pertaining to the management of systemic risks.

Risk management is also addressed in Frank Rambo’s report titled Set Up Risk Indicators as an Early Warning System and Leverage Actionable Reports for Risk Monitoring. This report shows you how to set up key risk indicators (KRIs) in SAP BusinessObjects Risk Management 3.0 and define criteria to trigger follow-up actions. You’ll also learn how to use pre-delivered Crystal Reports to respond to frequent management questions regarding the organization’s risk status and record your risk incidents and losses in an incident and loss database. These articles will help you follow best practices to keep your business as risk free as possible.

Gary Byrne
Managing Editor
SAP Financials and SAP GRC

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