Sphera's Operational Risk Solution Provides a Framework for Managing Risk

Operational Risk

Assessing, mitigating and managing risk to optimize processes.

Overview

Complying with safety, quality and environmental regulations and standards is increasingly important and has become more difficult as operations grow. Individual facilities are frequently using different methods and descriptions to define and assess risks, different models to score the severity and likelihood of risk and a multitude of systems and methods to control operational risk. This creates isolated pockets of risk knowledge, and impedes the ability to accurately share best practices and lessons learned while effectively managing risk across the business.

Sphera enables you to standardize your process for identifying, analyzing, mitigating and monitoring operational risk. We provide a means to quickly and accurately understand your risk profile, helping you make better decisions and drive sustainable improvements.

Comply and unify with Sphera

Our Operational Risk Solution provides a framework for managing risk that ensures you have an appropriate response to the inherent risks of your operations. We help you establish a unified operational risk strategy for your Risk Assessment, Incident Management and Management of Change business processes.

Your reputation is important – and creating a unified approach to operational risk secures your good standing with shareholders, clients and regulators. This solution makes certain that you comply with various industry regulations and standards, and provides the real-time reporting you need throughout your organization to ultimately improve your business performance.

Our Operational Risk solution enables you to:

  • Standardize risk assessments and ensure proper controls are in place and effective
  • Analyze work practice behaviors across the enterprise to extract actionable leading indicators that drive performance outcomes
  • Standardize risk management processes to enable performance benchmarking across business units, facilities, regions
  • Encourage behavioral change through enterprise-wide tracking and measurement to minimize unplanned events
  • Control the impacts of change on staff and productivity
  • Share data and insights across the enterprise to increase risk visibility and encourage continuous improvement