First multi-language risk management information system for SE Asian market

Aon eSolutions has announced the launch of RiskConsole in China and Japan. The browser-based risk management information system (RMIS), which allows companies to address risk management issues with greater efficiency, has been successfully utilized in the US for the past five years.

RiskConsole is claimed to be the first global RMIS able to support the Chinese and Japanese markets with multi-language capabilities. The system allows users to enter, view and report on data in Mandarin and Japanese and can also be translated into other languages, thus streamlining workload and improving productivity. RiskConsole uses claims, exposure, policy and other risk-related information to provide chief risk officers and risk managers with a comprehensive view of organization-wide risk.

With increasing economic pressure and expanding J-SOX regulation, the Japanese version of US regulation Sarbanes-Oxley, companies need to improve their corporate governance practices and better understand their overall risk. In China, the State-owned Assets Supervision and Administration Commission of the State Council has increasingly strengthened its corporate governance code, requiring state-owned enterprises and public companies to transparently control the risks associated with expansion.

“Whether operating on a global level or specifically in Asia, RiskConsole enables organizations to integrate detailed risk data – critical elements of a long-term sustainable risk management plan – into the corporate decision-making process,” said Kathy Burns, CEO of Aon eSolutions.

“State-owned enterprises and public companies in China and Japan are looking to forward-thinking solutions to help them manage increasing corporate governance demands, and RiskConsole technology provides an immediate and comprehensive picture of risk enterprise-wide."

Included within RiskConsole and also available as a stand-alone solution, the Enterprise Risk Management Risk Register module provides organizations with a centralized data repository for enterprise risk information. The platform enables companies to create performance indicators, develop action plans, delegate action items and compare results against risk tolerance.

•Date: 27th August 2009• Region: SE Asia•Type: Article •Topic: Operational risk
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