MQ1 Enterprise Risk Management Suite

In today’s immensely competitive marketplace, organizations are faced with a much different risk profile than ever in history. Intense global competition, governmental regulations, and increasing shareholder expectations all place an enormous amount of pressure on company management to increase returns while managing the enterprise’s risk.

As a result, the CEBOS MQ1 Enterprise Risk Management (ERM) suite allows organizations to identify, assess, respond and control risks for all aspects of the enterprise. Designed to comply with the Enterprise Risk Management Integrated Framework developed by The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the MQ1 ERM Suite allows for ease documentation of management while ensuring all aspects of the organization’s risks are covered.

Components for Assessing Enterprise Risk Management and MQ1

ERM Requirement	MQ1 Enterprise Risk Management Suite Features
Internal Environment	Manage competency and skill levels for particular tasks with one central repository Train employees to human resource standards through automatic management and maintenance of training needs Maintain an updated organization chart and clearly document position responsibilities for organizational structure. Document risk management philosophy and risk appetite
Objective Setting	Define and document strategic objectives that support the organization’s mission, vision or purpose Define activity level objectives with success factors and measure performance and achievement of these objectives
Event Identification and Risk Assessment	Identify influencing external and internal risk factors and group related events by creating risk plans allowing management to better determine risks and opportunities Perform risk assessments using risk factor scoring
Risk Response and Control Activities	Evaluate possible risk response and develop an implementation plan to execute that focuses on major risks or events Ensure risk responses are completed timely with review frequency reminders Develop and document policy with procedures and how procedures will effect policy
Information and Communication	Communicate the importance of ERM internally and externally with documentation in the form of manuals, e-mails and memos Protect the quality of information by preventing employees from making unauthorized changes ensuring the most recent revision is available for reference All levels of the organization can easily retrieve and access information
Monitoring	Monitor ongoing activities through automatic audit checklists Report deficiencies to the appropriate parties and develop recommendations through corrective and preventive action requests Document employee feedback on EMR effectiveness provided by training sessions and planning meetings

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