US20100257452A1 - Interactive risk management system and method - Google Patents
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- US20100257452A1 US20100257452A1 US12/720,329 US72032910A US2010257452A1 US 20100257452 A1 US20100257452 A1 US 20100257452A1 US 72032910 A US72032910 A US 72032910A US 2010257452 A1 US2010257452 A1 US 2010257452A1
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/08—Insurance
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q10/00—Administration; Management
- G06Q10/06—Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
- G06Q10/063—Operations research, analysis or management
- G06Q10/0635—Risk analysis of enterprise or organisation activities
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/03—Credit; Loans; Processing thereof
Definitions
- This invention relates to process management, and in particular to an interactive display which provides information for management processes and associated risks.
- Enterprise reputation risk presents management challenges. Even the finest organization's reputation may suffer serious and even irreparable damage from many disparate causes. Over the past years, risk controls were directed at capital losses arising from trading, market and credit risk. But today, the profound risk which must be identified, mitigated, controlled, and monitored is Enterprise Reputation Risk. Reputation risk, that is the loss of shareholder value resulting from a lack of customer and public confidence in the organization, must be effectively managed.
- Reputation risk is very difficult to manage since it may be extremely complex to identify and manage. It requires a coordinated analysis and control of three separate, interrelated risks: business risk, regulatory risk and operational risk. It also requires the identification of sub-risks which may occur throughout any part of an organization: within or between front, back and middle offices, and even between the organization and outsource providers. It also requires the insertion of key controls and monitors, often in areas which have not been previously identified as key control points.
- BPM Business Process Management
- Process management and risk reduction may be even more complex for organizations which have implemented Basel II or Business Process Management (“BPM”).
- BPM Basel II's operational risk definition is very limited and overlapping areas of risk may not be considered in the analysis. This leaves wide gaps and vulnerabilities.
- organizations which have implemented BPM may have effectively “mapped processes” and inserted control measures to maximize efficiency and cost reduction, but the underlying analysis of reputation risk factors is rarely accomplished. Thus, in both cases, management is left with a false sense of security.
- the invention comprises an interactive risk management system and method implemented via a computer and monitor that displays to the user through the browser a multi-dimensional visual mapping of the processes of an organization, and allows the user to selectively view additional data, such as messages describing risks associated with the selected process.
- additional data such as messages describing risks associated with the selected process.
- the user may navigate from one process to another process to access and review associated data, allowing the user to gain information about selected processes and associated risks.
- FIG. 1 is a schematic illustration of the interactive management system in accordance with the present invention
- FIG. 2 is a schematic illustration of a mapping
- FIG. 3 is a flowchart of the method of operation of the interactive management system of FIG. 1 ;
- FIG. 4 is a display screen displaying a mapping
- FIG. 5 is the display screen of FIG. 4 with a pop-up information window
- FIG. 6 is a display screen displaying an alternative embodiment of a mapping
- FIG. 7 is a display screen displaying a modification of the mapping of FIG. 6 ;
- FIG. 8 is a display screen displaying another modification of the mapping of FIG. 6 ;
- FIG. 9 is a display screen displaying another embodiment of the mappings, showing the use of yield sign indicators
- FIG. 10 is a display screen displaying a list of accessible reports, with the list being accessed from a yield sign indicator in FIG. 9 ;
- FIG. 11 is a display screen displaying a first report
- FIG. 12 is a display screen displaying a second report.
- an interactive risk management system 10 and method which visually display to the user, for example, via a computer monitor utilizing a browser, a mapping of processes of an organization, that allows the user to selectively view additional data, such as messages describing risks associated with any selected process.
- the interactive risk management system 10 and method may be sold or otherwise provided to users as a software application associated with the trademark “COOL” commercially available from “IMAG” and/or other entities providing the interactive risk management system 10 and method.
- the user may navigate or move from process to process, for example, by use of the computer mouse or its equivalent, to access and review associated data, allowing the user to view, on screen or via a printout, information about selected processes and associated risks.
- an accounts officer of a bank may move through a series of displayed processes representing steps in the procedures of the bank, such as a new-accounts procedure for creating a new banking account for an applicant, or a loan approval procedure for a potential borrower. For each process, the accounts officer may view instructions, guidelines, policies, and risks associated with the process currently being reviewed, such as the bank's approved procedures for preventing money laundering.
- the displayed processes may include actuatable display regions or icons so that when the accounts officer clicks the region with a mouse cursor, a hyperlink to additional information is activated by which the computer system retrieves the correspondingly hyperlinked information and displays it to the accounts officer.
- the linked information may be, for example, a pre-existing text of the warning signs to be noted by the accounts officer which indicates a money-laundering risk associated with the application or applicant being reviewed.
- the linked information may be displayed to the accounts officer through the browser, for example, as a separate web-page on the intranet of the bank, or in a pop-up dialog box displayed over the existing browser text.
- a medical technician in a hospital may move through a series of displayed processes representing steps in the procedures for performing diagnostic tests for patients, such as procedures implementing test requests from doctors and test approval from a health management organization (HMO) for performing X-ray or chemotherapy on a patient.
- HMO health management organization
- the medical technician may view instructions, guidelines, policies, and risks associated with the current process being reviewed, for example, the hospital's approved procedures for preventing unnecessary medical tests.
- the displayed processes may include actuatable display regions or icons so that when the medical technician clicks the region with a mouse cursor, a hyperlink to additional information is activated by the computer system to retrieve the correspondingly hyperlinked information, and to display this information to the medical technician.
- the linked information may be, for example, a pre-existing text of the warning signs to be noted by the medical technician which suggest medical fraud by a patient and/or a doctor.
- the linked information may be displayed to the medical technician through the browser, for example, as a separate web-page on the intranet of the hospital or in a pop-up dialog box displayed over the existing browser text.
- the interactive management system 10 and method includes a computer 12 having an input device 14 , a display 16 for displaying a graphic user interface (GUI) including a browser 18 , a processor 20 , and a memory 22 for storing a mapping such as map data 24 comprising a plurality of processes and for storing at least one risk message or information 26 associated with at least one of the plurality of processes.
- GUI graphic user interface
- the display 16 presents the browser 18 and GUI to the user and communicates with external devices 28 such as the Internet 30 or an intranet 32 associated with the organization implementing the interactive management system 10 and method.
- the input device 14 may include a keyboard 34 and a mouse 36 for using the browser 18 .
- the input device 14 and the display 16 may include a touch screen system (not shown) to be employed for inputs and outputs.
- the processor 20 operates the browser 18 and receives signals such as mouse input signals indicating actuation of icons or other actuatable display regions of the browser 18 by the user using the mouse 36 .
- the processor 20 also uses mapping software 38 such as graphics software or any other software, for example, graphics software available from “MICROSOFT CORPORATION” commercially available under the trademark “MICROSOFT VISIO”.
- the processor 20 accesses the memory 22 to retrieve the map data 24 for displaying a mapping 40 on the browser 18 , generally shown in FIG. 2 and as shown with the example mapping 100 in FIGS. 4-5 .
- the memory 22 also stores risk information associated with specific processes which the processor 20 may access and display to the user navigating the displayed mapping 100 .
- the memory 22 also includes link data 42 , for example, corresponding to hyperlinks allowing the user to select and actuate an actuatable display region on the browser, such as icons or hot spots, to access additional information, such as the risk information 26 associated with a process corresponding to the selected actuatable display region.
- the mapping 40 includes the plurality of processes, such as procedures 44 - 48 to be followed in a predetermined sequence.
- Each procedure 44 - 48 includes an associated text 50 - 54 , respectively, which may also include other information, such as graphics, audio and/or video describing or otherwise illustrating the respective procedure 44 - 48 .
- the text of each procedure may also be a label displayed in the mapping through the browser 18 , as shown in the blocks 102 - 152 representing processes in FIGS. 4-5 .
- Other processes may include a control 56 with associated text 58 describing or labeling the control, with the control 56 being associated with a specific process associated with at least one other process, such as the procedures 44 - 46 .
- the control 56 may be a graphic and/or audible warning signal or red flag to the user when an associated process, such as procedure 44 , is being accessed by the user.
- the mapping 40 also includes actuatable regions 60 such as icons which are displayed with the corresponding text 54 for the procedures 48 associated with the actuatable region 60 in the displayed mapping 40 viewable through the browser 18 .
- the actuatable region 60 is associated with predetermined link data 62 , and stored in a set of link data 42 in memory 22 , so that actuation of the actuatable region 60 causes the processor 20 to utilize the predetermined link data 62 as an address or hyperlink to retrieve the specific risk information text 64 associated with the predetermined link data 62 , which is in turn associated with the actuatable region 60 corresponding to a specific procedure 48 being accessed by the user for additional information.
- hyperlink means any type of link, such as an Internet link, to another webpage, document, or other information in any format, and also to link to another part of the program or to other programs and/or databases accessed via the user's intranet. Specific examples and methods are described below.
- the interactive management system 10 starts in step 66 the interactive management method, and displays in step 68 a graphic user interface including the browser 18 on the display monitor or other screen 16 of the computer 12 connected to the memory 22 and the input device 14 .
- the memory 22 stores in step 70 the mapping 40 of a plurality of processes, and stores in step 72 at least one risk message or information 26 associated with at least one of the plurality of processes.
- the processor 20 receives in step 74 user selections through the input device 14 , and displays in step 76 to the user through the browser 18 the mapping 40 of the plurality of processes, with each of a set of the displayed processes having an associated actuatable display region 60 .
- the processor 20 receives in step 78 signals corresponding to user actuation of an actuatable display region 60 of a selected process, and the processor 20 causes the display 16 to display in step 80 to the user through the browser 18 , in response to the user actuation, the at least one risk message or information 64 associated with the selected process, such as procedure 48 , thereby allowing the user to gain information about the selected process and its associated risks.
- the computer 12 may be a laptop, a personal computer, or terminal connected to a network or other external devices 28 , such as the Internet 30 or a dedicated intranet 32 associated with the organization of the user, such as the bank for which a loan officer processes new loan applications.
- a network or other external devices 28 such as the Internet 30 or a dedicated intranet 32 associated with the organization of the user, such as the bank for which a loan officer processes new loan applications.
- the processor 20 is responsive to user selections through the input device 14 to display to the user, through the browser 18 , the mapping 40 of the plurality of processes, with each of a set of the displayed processes having an associated actuatable display region 60 .
- the processor 20 is also responsive to user actuation of the actuatable display region 60 of a selected process, and displays to the user through the browser 18 the at least one risk message or information 64 associated with the selected process.
- the memory 22 is accessible through a computer network, so that any user using a browser 18 , communicating through the computer network, may access and view the mapping 40 and may actuate the actuatable display regions 60 to selectively view the at least one risk message or information 64 .
- the memory 22 may be a separate file server upon which the mapping 40 and other process data are stored.
- the memory 22 may be a removable storage medium such as a compact disk (CD) which may be updated regularly to reflect changes in the policies, processes and procedures of an organization. Accordingly, the interactive management system 10 and method may operate without local databases, but instead may be used in the field or used independently of the intranet 32 or internal computer network of the organization.
- the computer 12 may communicate through the external devices 28 , for example, to hyperlink to retrieve additional information as the user views processes in the mapping 40 .
- actuatable display regions 60 are associated with the link data 62 addressing linkable data stored in the memory 22 .
- the processor 20 responds to the actuation of a selective actuatable display region 60 to communicate with the memory 22 via the predetermined link data 62 to retrieve the corresponding linkable data.
- the link data 42 , 62 may be a hyperlink, such as a uniform resource locator (URL) or other types of addresses, or file or directory names, for accessing data stored in the memory 22 and/or in the external devices 28 in communication with the computer 12 .
- URL uniform resource locator
- the processor 20 operates mapping software 38 to display the mapping 40 and the plurality of processes as graphical representations on the display 16 , for example, in a multi-dimensional format and/or with color representations indicating types of processes, available information, warnings, and the like.
- the mapping software 38 displays subsets of the plurality of processes in a plurality of horizontal tracks or lanes, with the horizontal tracks oriented one above the other vertically.
- the mapping software 38 is the graphics software available from “MICROSOFT CORPORATION” under the trademark “MICROSOFT VISIO”.
- the interactive risk management system 10 and method described herein provides a new comprehensive solution for effective Enterprise Reputation Risk management, which requires a comprehensive methodology and implementation platform.
- Organizations for example, in the financial services industry, may use the interactive risk management system 10 and method for identifying and reducing reputation risk, with a comprehensive analysis methodology which enables management to effectively identify, mitigate and control reputation risk for all products and services and all departments of the organization on an ongoing basis.
- the interactive risk management system 10 and method may be used as a very cost-effective non-database solution with little or no information technology (IT) intervention or support required.
- the interactive risk management system 10 and method may be specifically designed to supplement and complement existing Basel II and business processing management (BPM) methodologies known in the art.
- BPM business processing management
- the timetable depends upon the availability of the organizations personnel for interviews with those preparing the mapping and the number of programmers applied to the project.
- One advantage of the interactive risk management system 10 and method of the invention is the ability to facilitate effective monitoring, control and rightsizing of processes and risks in an organization, and provide a modern host environment for policies and procedures. For example, constant and consistent updating and version control may be assured throughout the organization.
- the interactive risk management system 10 and method are excellent for controlling and monitoring branch offices and cross-border products, and are useful tools for planning and implementing control environments for new products, processes, systems and procedures.
- the interactive risk management system and method of the invention serves as an “organizational memory” and provides a permanent record regarding processes and controls.
- the interactive risk management system 10 and method enable an organization to identify, control, and monitor Enterprise Reputation Risk and a series of carefully planned, interrelated elements are included.
- effective reputation risk detection begins with two requirements: independence and experience. It may be very difficult to “cut through” the fabric of organizations in a totally objective manner. It requires skill and experience to know where to look, the areas to probe and the issues to analyze. It requires independence to ask difficult questions and to glean information from disparate, but interrelated parts of an organization.
- the interactive risk management system 10 and method analyze and allow for the monitoring of three key areas of risk: business (or “inherent”) risk, regulatory risk, and operational risk.
- the organization sets common definitions and risk factors so as to ensure that the analysis and mapping are consistent with the organizational environment and culture of the organization. Moreover, this element facilitates a dialogue between the creators of the mapping and management regarding alternative risk definitions and factors which may be common in the industry, but not fully developed or identified within a given organization.
- interrelationships between processes may be determined and incorporated into the mapping 40 .
- one type of interrelationship is a control 56 of one process by another process.
- a control 56 must be rationally connected to a particular process, must be specifically designed to mitigate the risks which exist at that point in the process and must be capable of measurement.
- the interactive risk management system 10 and method display the process mapping 40 using highly visible, colorful, three-dimensional maps, for example, in the “MICROSOFT VISIO” format, designed to simultaneously display horizontal or cross-organizational processes, and vertical or drill-down processes. Once the maps are completed, they present a unique, three-dimensional “as is” picture of the organization's processes from a risk standpoint.
- mappings 40 may be displayed on a browser 18 in the form of labeled blocks corresponding to predetermined processes showing their interrelationships.
- a bank's loan officer may view the mapping 100 for performing corporate lending procedures.
- the mapping 100 includes a plurality of labeled blocks 102 - 152 , each corresponding to a specific process or procedure for performing corporate lending, such as setting up new customers and monitoring anti-money laundering (AML) practices according to procedures and guidelines of the Office of Foreign Assets Control (OFAC) established by the U.S. Treasury.
- AML anti-money laundering
- OFAC Office of Foreign Assets Control
- Common types of processes performed are generally are laid out in sequence in at least one lane or track 154 , with the processes in each lane being horizontally displayed with appropriate labels 158 on each lane.
- common cross-type activities are grouped in vertical columns 156 , such as new customer set-up and AML monitoring, with appropriate labels 160 , 162 for each vertical column.
- a “No AML Parameters” process 102 For example, in a management track, a “No AML Parameters” process 102 , an “Approval if Needed” process 104 , and a “No AML Risk Assessment, No AML Parameters” process 106 are displayed.
- a “Prospective Dealer Relationship” process 108 a “Due Diligence Analysis, and Credit Check” process 110 , an “Approval to Engage in Business” process 112 , an “Individual Applies for Loan, Completes Application, and Gives to Dealer” process 114 , a “Receive Application Review, Due Diligence, and Credit Check” process 116 , an “Approval of Auto Loan” process 118 , a “Draw Up Paperwork” process 120 , and a “No Monitoring” process 122 are displayed.
- a “No Account Form, Only Check List” process 124 a “No AML Risk Review” process 126 , a “No AML Risk Review”
- a “Customer Set-up on DataPro” process 132 In an operations track, a “Customer Set-up on DataPro” process 132 , an “OFAC Check” process 134 , a “Customer Set-up on DataPro” process 136 , an “OFAC Check” process 138 , a “Wire Transfer Money to Dealer” process 140 , a “No Monitoring” process 142 , and a “Risk of Accidental OFAC Release” process 144 are displayed.
- the “Customer Set-up on DataPro” process 136 is also displayed, along with a “No Third Parties” process 146 , and a “No Monitoring” process 148 .
- a “No Third Party OFAC Check” process 150 is displayed in a compliance track.
- an “OFAC Scrubbing For Changes” process 152 is displayed in a compliance track.
- the various processes may be connected by arrows 164 , 166 illustrating the step-by-step flow from one process to the next.
- the solid arrows 164 may indicate a definitive process to be performed after the current process, such as a customer set-up 132 being performed after approval to engage in business 112 .
- Other types of arrows, such as dashed arrows 166 may show optional branching or decisions based on completion of a current process. For example, after a wire transfer 140 is performed, the organization may flag the wire transfer for “no monitoring” 142 . The risk of accidental OFAC release 144 of personal information may also be viewed by the loan officer.
- Predetermined processes such as processes 108 - 120 may be illustrated with blocks having solid lines, while such optional processes 102 - 106 , 122 - 130 , and 142 - 150 may be displayed with blocks having dotted lines.
- color coding, solid arrows, solid lines, dotted arrows, and dotted lines may be shown in the mapping 100 , and the interactive management system 10 and method may display the mapping using different colors, different shading of the arrows and/or blocks, and different shapes for the blocks, such as red borders for very important processes to be performed.
- Other types of graphics such as stop signs may be used.
- a user such as a loan officer may access and view addition information.
- one or more of the processes or procedures 102 - 154 may have an associated actuatable region as described above in conjunction with FIG. 2 , so that actuation of a selected process by clicking a mouse button or equivalent device, when the mouse cursor overlaps the selected process, causes the processor to access the corresponding link data to access and retrieve associated risk information text associated with the selected process.
- the associated link when the user selects the “OFAC Check” process 134 in FIG. 4 , the associated link generates a pop-up information box 168 , as shown in FIG. 5 , to display to the user the organization's policy for risk management involving an OFAC checking procedure.
- the information box 168 may include display controls 170 such as a slidable icon to scroll through a page of the information on the displayed topic.
- the pop-up information box 168 is not a separate process in the track, but is only displayed on the mapping 100 temporarily and is associated with the actuated process 134 .
- the interactive risk management system and method permit a user to perform a Risk Diagnostic Analysis and Solution Mapping function to bring together multiple aspects of process management, for example, process operation, risk identification, and a solution meeting the needs of the user.
- the interactive risk management system and method of the invention act as effective tools for risk and solution analysis.
- business, regulatory, and operational risks which exist at each process step are identified and connected, and practical and effective solutions as well as controls are established which mitigate the identified risks.
- the risk analysis and proposed control solutions are embedded in the three-dimensional mapping so that, in a very short time, management and staff are presented, by the interactive risk management system 10 and method and their map and data presentation format, both their verified process flows as well as an analysis of identified risks and solutions.
- the interactive risk management system and method may make use of indicators and/or other indicia or images, such as displayed stop signs, to indicate to the user that the process displayed substantially adjacent to the stop sign has an associated risk.
- FIG. 6 illustrates a display screen displaying the alternative embodiment of a mapping 200 , in which a plurality of processes 202 - 228 are organized into a plurality of tracks 230 , for example, to map and illustrate to the user the procedures employed by an organization in the recruitment of registered staff.
- the processes 202 - 228 of the mapping 200 may include actuatable regions which, upon activation by the user, provide additional information about the associated process selected by the user to access and review the information.
- Specific processes such as the processes 202 , 206 , 208 and 210 , may have associated risks for which additional information is available. Accordingly, the interactive risk management system and method flags such processes or otherwise alerts the user of possible risks using visual and/or audible signs and/or signals, such as the image of stop signs 232 .
- visual cues such as the use of different colors for the stop signs 232 that contrast with the color of the process blocks 202 - 228 and/or flashing colors of the stop signs 232 or of the process blocks 202 - 228 may also be used to visually notify the user of additional information, for example, of a risk associated with a given process.
- Such stop signs 232 may also be actuatable regions, so that actuation of a stop sign causes the mapping 200 to display one or more risk information blocks 234 - 246 in a modified mapping 248 , as illustrated in FIG. 7 .
- the risk information blocks 234 - 246 may be displayed in one or more of the tracks 230 only for illustrative purposes, so that the risk information blocks 234 - 246 are positioned substantially adjacent to their respective processes 202 - 228 .
- the risk information blocks 234 - 246 may have visual indicators such as dashed lines instead of the solid lines of the process blocks 202 - 228 , as shown in FIG. 7 , or colored blocks which contrast the colors of the process blocks 202 - 228 . The user is thereby provided with visual cues to indicate that the risk information blocks 234 - 246 are separate and distinct from the process blocks 202 - 228 .
- the risk information blocks 234 - 246 may also be actuatable regions through which the user may access additional information, that is, actuation of one of the risk information blocks 234 - 246 causes the interactive risk management system 10 and method to retrieve and access additional and/or explanatory risk information.
- mappings 100 , 200 may reflect an existing structure of an organization.
- the interactive risk management system 10 and method may also be used to display to the user a proposed solution to the existing structure to minimize or eliminate risks associated with the various processes.
- the mapping 248 of FIG. 7 displays the associated risks in risk information blocks 234 - 246 of the processes illustrated in the original mapping 200 in FIG. 6 .
- an actuatable region or icon 250 may be provided to access a solution mapping, as shown in FIG. 8 .
- the position of the solution icon 250 is arbitrary, that is, the positioning of the solution icon near a process, such as the process 216 , or in a track 230 , does not indicate that the solution mapping is only associated with the nearby process 216 or track 230 .
- FIG. 8 illustrates a display screen displaying another modification of the mapping of FIGS. 6-7 .
- the mapping 252 in FIG. 8 illustrates a solution mapping which minimizes or eliminates the risks described in the risk information blocks 234 - 246 of FIG. 7 .
- the solution mapping 252 has a plurality of processes 254 - 280 organized in at least one track or lane 282 , which provides a proposed or final solution to the user in the form of a revision to the organization in a manner that minimizes or eliminates the risks, for example, in the recruitment of registered staff.
- the solution mapping 252 may have processes 254 - 280 which are different from the original processes 202 - 228 of the organization, and such processes 254 - 280 may be organized in tracks 282 or lanes different from the tracks 230 in FIGS. 6-7 .
- Some or all of the processes 254 - 280 may be common to the processes 202 - 228 , such as the “Interview” processes 218 , 268 and the “Commence Duties” processes 228 , 280 , and similarly some or all of the tracks 282 may be common to the tracks 230 , such as an “Employee” track or lane and an “HR” or “Human Resources” track or lane.
- the solution mapping 252 is distinct from the original mapping 200 in that the processes 202 - 228 are re-arranged, modified, and/or deleted, and new processes may be added to present a proposed solution that minimizes or eliminates the risks in the overall organization.
- an initial mapping may be prepared, and once management reviews and agrees on risk-mitigating solutions, the initial mapping may be revised to re-map the process flows to reflect the new control environment.
- the new maps reflect actual process flows and/or solutions with control points duly noted.
- Policies, procedures, forms, and information sources, as well as web-links, may be amended to conform to the new controls and may be hyperlinked directly to process steps on the maps.
- staff members may access and know exactly what steps to follow at each process point to mitigate risk.
- control boxes are viewable and accessible within the flow for process monitoring on an ongoing basis.
- the interactive risk management system 10 and method is designed to work in conjunction with the metrics and controls which are being implemented.
- the maps are available to all staff via their web browser, for example, through the organization's intranet 32 .
- Each member of the staff has the ability, with a click of the mouse button, to access all processes within a given product, service or area from the highest level to the day-to-day work within a department.
- Control points are easily visible and applicable procedures and forms are only a click away from a given process step.
- the “control boxes” ensure that the process flow, which already conforms to the “as is” process of the organization, is followed and make monitoring easy to accomplish.
- third parties may verify and update the maps regularly or on an as-needed basis, and may make the maps available on a web-hosted basis.
- the interactive risk management system 10 and method may make use of indicators and/or other indicia or images in addition to and/or instead of stop signs to alert the user of the presence of additional risk analysis features within the displayed mappings, and so providing an enhanced mapping of the interactive risk management system and method.
- mappings significant control weaknesses are indicated in the mappings by stop sign images, which are linked and/or hyperlinked to an analysis page or other information, and optionally a proposed solution.
- stop sign images which are linked and/or hyperlinked to an analysis page or other information, and optionally a proposed solution.
- the mappings may be expanded in additional embodiments to incorporate different and/or deeper analysis of the operational risks addressed by the interactive risk management system and method of the present invention.
- FIG. 9 is a display screen 300 displaying the additional embodiment of the mappings, showing the use of yield sign indicators 302 , 304 and the other indicators 306 , 308 indicated by circles which embed and allow access to operational risk control reports within the mappings.
- Such indicators may include a displayed yield sign 302 , 304 , an “R” in a circle 306 , and a “CR” in a circle 308 , to indicate to the user that the processes displayed substantially adjacent to the displayed indicators have additional information.
- Such circles 306 displaying an “R” may be a green color or any other predetermined color
- the circles 308 displaying a “CR” may be green, amber, or red, or any other predetermined color, with such colors providing additional visual cues or indications to the user of the status of the process and any additional information associated with the process.
- the stop sign image may continue to be used as shown in FIG. 6 to signify a significant control-related weakness requiring immediate management attention, while the yield signs 302 , 304 signify an important control consideration or an enhancement to the risk control infrastructure of the entity or facility which is recommended.
- a display screen 310 as shown in FIG. 10 is generated for displaying a list of accessible control reports, with corresponding GUI actuation regions 312 , 314 with text such as “Report of Repaired Items” and “Report of Compensation Claims”, respectively.
- Information associated with the reports and corresponding actuation regions 312 , 314 may include a reference number, a specific operational risk, a priority ranking, risk attributes, effectiveness values, a name or initials of an owner, a frequency of providing a control report, and a frequency of monitoring the process.
- Such accessible reports reflect operational risk analysis of the corresponding processes associated with the corresponding yield signs.
- the list 310 is accessed from the yield sign indicators 302 , 304 in FIG. 9 , with examples of such accessible reports, displayed via actuation of the regions 312 , 314 , shown in the display screens 316 , 318 of FIGS. 11-12 , respectively.
- Each report may be indexed by a reference number shown within the corresponding yield sign, such as the first report labeled by reference number “ 1 ” in the list 310 with a corresponding label 320 displayed in the first yield sign, and the second report labeled by reference number “ 2 ” in the list 310 with a corresponding label 322 displayed the second yield sign.
- FIG. 11 is a display screen 316 displaying a first report corresponding to the first yield sign 302 which reports repaired items over various periods of time.
- FIG. 12 is a display screen displaying a second report corresponding to the second yield sign which reports compensation claims over various periods of time.
- Such reports may include a spreadsheet, such as a “MICROSOFT” “EXCEL” spreadsheet, or a report, image, and/or printout generated by such spreadsheets or other software, such as “MICROSOFT” “WORD” word-processing software, “MICROSOFT” “ACCESS” database software, or “ADOBE” “ACROBAT” image software.
- the reports may include data 324 - 326 , text 328 - 330 , and/or graphics or images 332 - 334 , such as charts including bar charts.
- the “R” in the green circle 306 in FIG. 9 may be actuated by clicking the mouse when the mouse cursor is over the green circle 306 , and such actuation causes the display of a management report produced in the normal course of business.
- the “CR” in a colored circle 308 as shown in FIG. 9 , provides access, for example, by mouse actuation, to control reports specifically developed to control a certain defined element of operation risk.
- a “CR” in a green circle indicates the availability of a report which has been produced but with no specific risks or considerations to be acted on.
- “CR” in an amber circle indicates an enhancement or recommendation to a control report which management should consider.
- a “CR” in a red circle indicates either the lack of a control report at a critical risk junction or a significant enhancement which is required in an existing control report in order to make the control report effective to measure the identified risk.
- letters, number, symbols, and combinations of letters, numbers, and/or symbols may be displayed in the circles.
- the user of the interactive risk management system and method has the ability to link and/or hyperlink from the indicators, such as a report circle, to an analysis page in which a chart sets forth salient details about the report, such as the name of the report; its purpose, for example, in terms of the risk being controlled; to whom the report is circulated; the frequency of production of such reports; and indicators of who is responsible for monitoring such risks.
- the interactive risk management system and method may also hyperlink to a copy of the relevant report itself.
Abstract
An interactive risk management system and method for a business or other organization generates a graphic display to the user, through the browser, to display a mapping of processes used in conducting the business or the affairs of the organization and allow the user to selectively view additional data, such as messages describing risks associated with the process selected. The user may navigate thorough and among the processes to access and review associated data, allowing the user to gain information about selected processes and associated risks.
Description
- This application is a continuation-in-part application of U.S. application Ser. No. 10/716,893, filed on Nov. 18, 2003, which is incorporated herein by reference.
- This invention relates to process management, and in particular to an interactive display which provides information for management processes and associated risks.
- Enterprise reputation risk presents management challenges. Even the finest organization's reputation may suffer serious and even irreparable damage from many disparate causes. Over the past years, risk controls were directed at capital losses arising from trading, market and credit risk. But today, the profound risk which must be identified, mitigated, controlled, and monitored is Enterprise Reputation Risk. Reputation risk, that is the loss of shareholder value resulting from a lack of customer and public confidence in the organization, must be effectively managed.
- Reputation risk is very difficult to manage since it may be extremely complex to identify and manage. It requires a coordinated analysis and control of three separate, interrelated risks: business risk, regulatory risk and operational risk. It also requires the identification of sub-risks which may occur throughout any part of an organization: within or between front, back and middle offices, and even between the organization and outsource providers. It also requires the insertion of key controls and monitors, often in areas which have not been previously identified as key control points.
- Few organizations have risk reduction methodologies in place across all areas or for all risk areas. Thus, reputation risk remains. For example, organizations such as banks which will follow the Basel II formula, set forth by the Basel Committee on Banking Supervision through the Basel Capital Accord, are already well aware of the limits and complexity of the Basel II methodology. Its principal focus is reducing Operational Risk, and it specifically excludes an analysis of many overlapping areas of risk which give rise to enterprise reputation risk, so the reduction of reputation risk via Basel II is limited.
- Business Process Management (BPM) methods also reduce reputation risk, but only to a degree. A high quality BPM methodology yields measures and controls which give to management a set of metrics to manage in a cost effective and process efficient manner. However, BPM is, at heart, directed to cost control and efficiency rather than real risk reduction. In other words, an organization may spend millions on effective BPM and still have substantial exposure to reputation risk.
- Thus, effective reputation risk management depends upon identifying risk and control at each process point. However, because of downsizing, rightsizing, mergers, acquisitions, technology implementations, and outsourcing, organizations find an enormous disconnect between their process and controls. For example, the planned control environment instituted at some past time does not conform to the process which has been implemented to meet business and service demands. This means that risk remains in the organization.
- Process management and risk reduction may be even more complex for organizations which have implemented Basel II or Business Process Management (“BPM”). Basel II's operational risk definition is very limited and overlapping areas of risk may not be considered in the analysis. This leaves wide gaps and vulnerabilities. In addition, organizations which have implemented BPM may have effectively “mapped processes” and inserted control measures to maximize efficiency and cost reduction, but the underlying analysis of reputation risk factors is rarely accomplished. Thus, in both cases, management is left with a false sense of security.
- A need exists for the creation of an ongoing method of effective control and monitoring of process and risk management in an organization.
- It is therefore an object of the present invention to provide an interactive risk management system and method to allow a user to navigate from process to process to access and review associated data, to thereby obtain information about selected processes and associated risks.
- The invention comprises an interactive risk management system and method implemented via a computer and monitor that displays to the user through the browser a multi-dimensional visual mapping of the processes of an organization, and allows the user to selectively view additional data, such as messages describing risks associated with the selected process. The user may navigate from one process to another process to access and review associated data, allowing the user to gain information about selected processes and associated risks.
- Preferred embodiments of the invention are described hereinbelow with reference to the drawings, wherein:
-
FIG. 1 is a schematic illustration of the interactive management system in accordance with the present invention; -
FIG. 2 is a schematic illustration of a mapping; -
FIG. 3 is a flowchart of the method of operation of the interactive management system ofFIG. 1 ; -
FIG. 4 is a display screen displaying a mapping; -
FIG. 5 is the display screen ofFIG. 4 with a pop-up information window; -
FIG. 6 is a display screen displaying an alternative embodiment of a mapping; -
FIG. 7 is a display screen displaying a modification of the mapping ofFIG. 6 ; -
FIG. 8 is a display screen displaying another modification of the mapping ofFIG. 6 ; -
FIG. 9 is a display screen displaying another embodiment of the mappings, showing the use of yield sign indicators; -
FIG. 10 is a display screen displaying a list of accessible reports, with the list being accessed from a yield sign indicator inFIG. 9 ; -
FIG. 11 is a display screen displaying a first report; and -
FIG. 12 is a display screen displaying a second report. - As shown in
FIGS. 1-8 , an interactiverisk management system 10 and method are described which visually display to the user, for example, via a computer monitor utilizing a browser, a mapping of processes of an organization, that allows the user to selectively view additional data, such as messages describing risks associated with any selected process. The interactiverisk management system 10 and method may be sold or otherwise provided to users as a software application associated with the trademark “COOL” commercially available from “IMAG” and/or other entities providing the interactiverisk management system 10 and method. - The user may navigate or move from process to process, for example, by use of the computer mouse or its equivalent, to access and review associated data, allowing the user to view, on screen or via a printout, information about selected processes and associated risks.
- In one representative embodiment, an accounts officer of a bank may move through a series of displayed processes representing steps in the procedures of the bank, such as a new-accounts procedure for creating a new banking account for an applicant, or a loan approval procedure for a potential borrower. For each process, the accounts officer may view instructions, guidelines, policies, and risks associated with the process currently being reviewed, such as the bank's approved procedures for preventing money laundering.
- The displayed processes may include actuatable display regions or icons so that when the accounts officer clicks the region with a mouse cursor, a hyperlink to additional information is activated by which the computer system retrieves the correspondingly hyperlinked information and displays it to the accounts officer. The linked information may be, for example, a pre-existing text of the warning signs to be noted by the accounts officer which indicates a money-laundering risk associated with the application or applicant being reviewed. The linked information may be displayed to the accounts officer through the browser, for example, as a separate web-page on the intranet of the bank, or in a pop-up dialog box displayed over the existing browser text.
- In another representative embodiment, a medical technician in a hospital may move through a series of displayed processes representing steps in the procedures for performing diagnostic tests for patients, such as procedures implementing test requests from doctors and test approval from a health management organization (HMO) for performing X-ray or chemotherapy on a patient. At each process step, the medical technician may view instructions, guidelines, policies, and risks associated with the current process being reviewed, for example, the hospital's approved procedures for preventing unnecessary medical tests. The displayed processes may include actuatable display regions or icons so that when the medical technician clicks the region with a mouse cursor, a hyperlink to additional information is activated by the computer system to retrieve the correspondingly hyperlinked information, and to display this information to the medical technician. The linked information may be, for example, a pre-existing text of the warning signs to be noted by the medical technician which suggest medical fraud by a patient and/or a doctor. The linked information may be displayed to the medical technician through the browser, for example, as a separate web-page on the intranet of the hospital or in a pop-up dialog box displayed over the existing browser text.
- As shown in
FIG. 1 , theinteractive management system 10 and method includes acomputer 12 having aninput device 14, adisplay 16 for displaying a graphic user interface (GUI) including abrowser 18, aprocessor 20, and amemory 22 for storing a mapping such asmap data 24 comprising a plurality of processes and for storing at least one risk message orinformation 26 associated with at least one of the plurality of processes. Thedisplay 16 presents thebrowser 18 and GUI to the user and communicates withexternal devices 28 such as theInternet 30 or anintranet 32 associated with the organization implementing theinteractive management system 10 and method. - The
input device 14 may include akeyboard 34 and amouse 36 for using thebrowser 18. Alternatively, theinput device 14 and thedisplay 16 may include a touch screen system (not shown) to be employed for inputs and outputs. Theprocessor 20 operates thebrowser 18 and receives signals such as mouse input signals indicating actuation of icons or other actuatable display regions of thebrowser 18 by the user using themouse 36. Theprocessor 20 also usesmapping software 38 such as graphics software or any other software, for example, graphics software available from “MICROSOFT CORPORATION” commercially available under the trademark “MICROSOFT VISIO”. - The
processor 20 accesses thememory 22 to retrieve themap data 24 for displaying amapping 40 on thebrowser 18, generally shown inFIG. 2 and as shown with theexample mapping 100 inFIGS. 4-5 . Thememory 22 also stores risk information associated with specific processes which theprocessor 20 may access and display to the user navigating the displayedmapping 100. Thememory 22 also includeslink data 42, for example, corresponding to hyperlinks allowing the user to select and actuate an actuatable display region on the browser, such as icons or hot spots, to access additional information, such as therisk information 26 associated with a process corresponding to the selected actuatable display region. - Referring to
FIG. 2 , themapping 40 includes the plurality of processes, such as procedures 44-48 to be followed in a predetermined sequence. Each procedure 44-48 includes an associated text 50-54, respectively, which may also include other information, such as graphics, audio and/or video describing or otherwise illustrating the respective procedure 44-48. The text of each procedure may also be a label displayed in the mapping through thebrowser 18, as shown in the blocks 102-152 representing processes inFIGS. 4-5 . Other processes may include acontrol 56 with associatedtext 58 describing or labeling the control, with thecontrol 56 being associated with a specific process associated with at least one other process, such as the procedures 44-46. For example, thecontrol 56 may be a graphic and/or audible warning signal or red flag to the user when an associated process, such asprocedure 44, is being accessed by the user. - The
mapping 40 also includesactuatable regions 60 such as icons which are displayed with the correspondingtext 54 for theprocedures 48 associated with theactuatable region 60 in the displayedmapping 40 viewable through thebrowser 18. Theactuatable region 60 is associated withpredetermined link data 62, and stored in a set oflink data 42 inmemory 22, so that actuation of theactuatable region 60 causes theprocessor 20 to utilize thepredetermined link data 62 as an address or hyperlink to retrieve the specificrisk information text 64 associated with thepredetermined link data 62, which is in turn associated with theactuatable region 60 corresponding to aspecific procedure 48 being accessed by the user for additional information. - As used herein, the term “hyperlink” means any type of link, such as an Internet link, to another webpage, document, or other information in any format, and also to link to another part of the program or to other programs and/or databases accessed via the user's intranet. Specific examples and methods are described below.
- As shown in
FIG. 3 , in operation, theinteractive management system 10 starts instep 66 the interactive management method, and displays in step 68 a graphic user interface including thebrowser 18 on the display monitor orother screen 16 of thecomputer 12 connected to thememory 22 and theinput device 14. Thememory 22 stores instep 70 themapping 40 of a plurality of processes, and stores instep 72 at least one risk message orinformation 26 associated with at least one of the plurality of processes. Theprocessor 20 receives instep 74 user selections through theinput device 14, and displays instep 76 to the user through thebrowser 18 themapping 40 of the plurality of processes, with each of a set of the displayed processes having an associatedactuatable display region 60. - The
processor 20 receives instep 78 signals corresponding to user actuation of anactuatable display region 60 of a selected process, and theprocessor 20 causes thedisplay 16 to display instep 80 to the user through thebrowser 18, in response to the user actuation, the at least one risk message orinformation 64 associated with the selected process, such asprocedure 48, thereby allowing the user to gain information about the selected process and its associated risks. - In an example embodiment, the
computer 12 may be a laptop, a personal computer, or terminal connected to a network or otherexternal devices 28, such as theInternet 30 or adedicated intranet 32 associated with the organization of the user, such as the bank for which a loan officer processes new loan applications. - The
processor 20 is responsive to user selections through theinput device 14 to display to the user, through thebrowser 18, themapping 40 of the plurality of processes, with each of a set of the displayed processes having an associatedactuatable display region 60. Theprocessor 20 is also responsive to user actuation of theactuatable display region 60 of a selected process, and displays to the user through thebrowser 18 the at least one risk message orinformation 64 associated with the selected process. - The
memory 22 is accessible through a computer network, so that any user using abrowser 18, communicating through the computer network, may access and view themapping 40 and may actuate theactuatable display regions 60 to selectively view the at least one risk message orinformation 64. Thememory 22 may be a separate file server upon which themapping 40 and other process data are stored. Alternatively or in addition, thememory 22 may be a removable storage medium such as a compact disk (CD) which may be updated regularly to reflect changes in the policies, processes and procedures of an organization. Accordingly, theinteractive management system 10 and method may operate without local databases, but instead may be used in the field or used independently of theintranet 32 or internal computer network of the organization. - The
computer 12 may communicate through theexternal devices 28, for example, to hyperlink to retrieve additional information as the user views processes in themapping 40. In order to perform this information retrieval,actuatable display regions 60 are associated with thelink data 62 addressing linkable data stored in thememory 22. Theprocessor 20 responds to the actuation of a selectiveactuatable display region 60 to communicate with thememory 22 via thepredetermined link data 62 to retrieve the corresponding linkable data. - The
link data memory 22 and/or in theexternal devices 28 in communication with thecomputer 12. - The
processor 20 operatesmapping software 38 to display themapping 40 and the plurality of processes as graphical representations on thedisplay 16, for example, in a multi-dimensional format and/or with color representations indicating types of processes, available information, warnings, and the like. Themapping software 38 displays subsets of the plurality of processes in a plurality of horizontal tracks or lanes, with the horizontal tracks oriented one above the other vertically. In one preferred embodiment, themapping software 38 is the graphics software available from “MICROSOFT CORPORATION” under the trademark “MICROSOFT VISIO”. - The interactive
risk management system 10 and method described herein provides a new comprehensive solution for effective Enterprise Reputation Risk management, which requires a comprehensive methodology and implementation platform. Organizations, for example, in the financial services industry, may use the interactiverisk management system 10 and method for identifying and reducing reputation risk, with a comprehensive analysis methodology which enables management to effectively identify, mitigate and control reputation risk for all products and services and all departments of the organization on an ongoing basis. - In performing the comprehensive Enterprise Reputation Risk analysis, solutions and controls, the interactive
risk management system 10 and method may be used as a very cost-effective non-database solution with little or no information technology (IT) intervention or support required. In addition, the interactiverisk management system 10 and method may be specifically designed to supplement and complement existing Basel II and business processing management (BPM) methodologies known in the art. The mapping of processes may be created with rapid turnaround, for example, average projects may be completed in about 120 days or even less. - As will be apparent to one of ordinary skill in the art, the timetable depends upon the availability of the organizations personnel for interviews with those preparing the mapping and the number of programmers applied to the project.
- One advantage of the interactive
risk management system 10 and method of the invention is the ability to facilitate effective monitoring, control and rightsizing of processes and risks in an organization, and provide a modern host environment for policies and procedures. For example, constant and consistent updating and version control may be assured throughout the organization. - For effective operation of the entire organization, the interactive
risk management system 10 and method are excellent for controlling and monitoring branch offices and cross-border products, and are useful tools for planning and implementing control environments for new products, processes, systems and procedures. By implementing a readily-accessible mapping of processes, the interactive risk management system and method of the invention serves as an “organizational memory” and provides a permanent record regarding processes and controls. - The interactive
risk management system 10 and method enable an organization to identify, control, and monitor Enterprise Reputation Risk and a series of carefully planned, interrelated elements are included. For example, effective reputation risk detection begins with two requirements: independence and experience. It may be very difficult to “cut through” the fabric of organizations in a totally objective manner. It requires skill and experience to know where to look, the areas to probe and the issues to analyze. It requires independence to ask difficult questions and to glean information from disparate, but interrelated parts of an organization. - Moreover, specialized experience is required to know how to analyze seamlessly between front and back offices and through all product and support areas from a variety of risk areas, in order to analyze and produce a mapping of the processes of an organization.
- The interactive
risk management system 10 and method analyze and allow for the monitoring of three key areas of risk: business (or “inherent”) risk, regulatory risk, and operational risk. - Both the definitions of these key risk areas and their sub-risk components vary among financial services industries and even within common industries. In one perspective, the organization sets common definitions and risk factors so as to ensure that the analysis and mapping are consistent with the organizational environment and culture of the organization. Moreover, this element facilitates a dialogue between the creators of the mapping and management regarding alternative risk definitions and factors which may be common in the industry, but not fully developed or identified within a given organization.
- Referring to
FIGS. 3-5 , in order to create the map of processes, interrelationships between processes may be determined and incorporated into themapping 40. For example, one type of interrelationship is acontrol 56 of one process by another process. To be effective, acontrol 56 must be rationally connected to a particular process, must be specifically designed to mitigate the risks which exist at that point in the process and must be capable of measurement. - The interactive
risk management system 10 and method, in a preferred embodiment, display theprocess mapping 40 using highly visible, colorful, three-dimensional maps, for example, in the “MICROSOFT VISIO” format, designed to simultaneously display horizontal or cross-organizational processes, and vertical or drill-down processes. Once the maps are completed, they present a unique, three-dimensional “as is” picture of the organization's processes from a risk standpoint. - As shown in the illustrative screen shots in
FIGS. 4-5 , the interactively displayedmappings 40 may be displayed on abrowser 18 in the form of labeled blocks corresponding to predetermined processes showing their interrelationships. In theexample mapping 100 shown inFIG. 4 , a bank's loan officer may view themapping 100 for performing corporate lending procedures. Themapping 100 includes a plurality of labeled blocks 102-152, each corresponding to a specific process or procedure for performing corporate lending, such as setting up new customers and monitoring anti-money laundering (AML) practices according to procedures and guidelines of the Office of Foreign Assets Control (OFAC) established by the U.S. Treasury. - Common types of processes performed are generally are laid out in sequence in at least one lane or
track 154, with the processes in each lane being horizontally displayed withappropriate labels 158 on each lane. In addition, common cross-type activities are grouped invertical columns 156, such as new customer set-up and AML monitoring, withappropriate labels - For example, in a management track, a “No AML Parameters”
process 102, an “Approval if Needed”process 104, and a “No AML Risk Assessment, No AML Parameters”process 106 are displayed. In a business unit track, a “Prospective Dealer Relationship”process 108, a “Due Diligence Analysis, and Credit Check”process 110, an “Approval to Engage in Business”process 112, an “Individual Applies for Loan, Completes Application, and Gives to Dealer”process 114, a “Receive Application Review, Due Diligence, and Credit Check”process 116, an “Approval of Auto Loan”process 118, a “Draw Up Paperwork”process 120, and a “No Monitoring”process 122 are displayed. In a credit department track, a “No Account Form, Only Check List” process 124, a “No AML Risk Review”process 126, a “No AML Risk Review”process 128, and a “No Monitoring”process 130 are displayed. - In an operations track, a “Customer Set-up on DataPro”
process 132, an “OFAC Check”process 134, a “Customer Set-up on DataPro”process 136, an “OFAC Check”process 138, a “Wire Transfer Money to Dealer”process 140, a “No Monitoring”process 142, and a “Risk of Accidental OFAC Release”process 144 are displayed. - In an accounting track, the “Customer Set-up on DataPro”
process 136 is also displayed, along with a “No Third Parties”process 146, and a “No Monitoring”process 148. In a compliance track, a “No Third Party OFAC Check”process 150, and an “OFAC Scrubbing For Changes”process 152 are displayed. - The various processes may be connected by
arrows solid arrows 164 may indicate a definitive process to be performed after the current process, such as a customer set-up 132 being performed after approval to engage inbusiness 112. Other types of arrows, such as dashedarrows 166, may show optional branching or decisions based on completion of a current process. For example, after awire transfer 140 is performed, the organization may flag the wire transfer for “no monitoring” 142. The risk ofaccidental OFAC release 144 of personal information may also be viewed by the loan officer. - Predetermined processes such as processes 108-120 may be illustrated with blocks having solid lines, while such optional processes 102-106, 122-130, and 142-150 may be displayed with blocks having dotted lines. As an alternative to, or in addition to, rectangular blocks, color coding, solid arrows, solid lines, dotted arrows, and dotted lines may be shown in the
mapping 100, and theinteractive management system 10 and method may display the mapping using different colors, different shading of the arrows and/or blocks, and different shapes for the blocks, such as red borders for very important processes to be performed. Other types of graphics such as stop signs may be used. - Using the mappings of
FIG. 4 , a user such as a loan officer may access and view addition information. For example, one or more of the processes or procedures 102-154 may have an associated actuatable region as described above in conjunction withFIG. 2 , so that actuation of a selected process by clicking a mouse button or equivalent device, when the mouse cursor overlaps the selected process, causes the processor to access the corresponding link data to access and retrieve associated risk information text associated with the selected process. - For example, referring to
FIGS. 4-5 , when the user selects the “OFAC Check”process 134 inFIG. 4 , the associated link generates a pop-upinformation box 168, as shown inFIG. 5 , to display to the user the organization's policy for risk management involving an OFAC checking procedure. Theinformation box 168 may include display controls 170 such as a slidable icon to scroll through a page of the information on the displayed topic. - It is to be noted that, although the
information box 168 overlaps the Accounting and Compliance tracks, the pop-upinformation box 168 is not a separate process in the track, but is only displayed on themapping 100 temporarily and is associated with the actuatedprocess 134. - Through the
mapping 100 shown inFIGS. 4-5 , with additional accessible information such as theinformation box 168, the interactive risk management system and method permit a user to perform a Risk Diagnostic Analysis and Solution Mapping function to bring together multiple aspects of process management, for example, process operation, risk identification, and a solution meeting the needs of the user. The interactive risk management system and method of the invention act as effective tools for risk and solution analysis. During creation of the process mapping, business, regulatory, and operational risks which exist at each process step are identified and connected, and practical and effective solutions as well as controls are established which mitigate the identified risks. The risk analysis and proposed control solutions are embedded in the three-dimensional mapping so that, in a very short time, management and staff are presented, by the interactiverisk management system 10 and method and their map and data presentation format, both their verified process flows as well as an analysis of identified risks and solutions. These mappings are easy to understand and lead to important and practical explanations of ways to mitigate risk. - In an alternative embodiment, shown in
FIGS. 6-8 , the interactive risk management system and method may make use of indicators and/or other indicia or images, such as displayed stop signs, to indicate to the user that the process displayed substantially adjacent to the stop sign has an associated risk. - For example,
FIG. 6 illustrates a display screen displaying the alternative embodiment of amapping 200, in which a plurality of processes 202-228 are organized into a plurality oftracks 230, for example, to map and illustrate to the user the procedures employed by an organization in the recruitment of registered staff. As described in connection withFIGS. 4-5 and themapping 100, the processes 202-228 of themapping 200 may include actuatable regions which, upon activation by the user, provide additional information about the associated process selected by the user to access and review the information. - Specific processes, such as the
processes stop signs 232 that contrast with the color of the process blocks 202-228 and/or flashing colors of thestop signs 232 or of the process blocks 202-228 may also be used to visually notify the user of additional information, for example, of a risk associated with a given process. -
Such stop signs 232 may also be actuatable regions, so that actuation of a stop sign causes themapping 200 to display one or more risk information blocks 234-246 in a modifiedmapping 248, as illustrated inFIG. 7 . The risk information blocks 234-246 may be displayed in one or more of thetracks 230 only for illustrative purposes, so that the risk information blocks 234-246 are positioned substantially adjacent to their respective processes 202-228. - The risk information blocks 234-246 may have visual indicators such as dashed lines instead of the solid lines of the process blocks 202-228, as shown in
FIG. 7 , or colored blocks which contrast the colors of the process blocks 202-228. The user is thereby provided with visual cues to indicate that the risk information blocks 234-246 are separate and distinct from the process blocks 202-228. - In addition, the risk information blocks 234-246 may also be actuatable regions through which the user may access additional information, that is, actuation of one of the risk information blocks 234-246 causes the interactive
risk management system 10 and method to retrieve and access additional and/or explanatory risk information. - As described herein and shown in
FIGS. 4-7 , themappings risk management system 10 and method may also be used to display to the user a proposed solution to the existing structure to minimize or eliminate risks associated with the various processes. - For example, the
mapping 248 ofFIG. 7 displays the associated risks in risk information blocks 234-246 of the processes illustrated in theoriginal mapping 200 inFIG. 6 . On themapping 248, an actuatable region oricon 250 may be provided to access a solution mapping, as shown inFIG. 8 . Note that the position of thesolution icon 250 is arbitrary, that is, the positioning of the solution icon near a process, such as theprocess 216, or in atrack 230, does not indicate that the solution mapping is only associated with thenearby process 216 ortrack 230. -
FIG. 8 illustrates a display screen displaying another modification of the mapping ofFIGS. 6-7 . Themapping 252 inFIG. 8 illustrates a solution mapping which minimizes or eliminates the risks described in the risk information blocks 234-246 ofFIG. 7 . Thesolution mapping 252 has a plurality of processes 254-280 organized in at least one track orlane 282, which provides a proposed or final solution to the user in the form of a revision to the organization in a manner that minimizes or eliminates the risks, for example, in the recruitment of registered staff. - As shown in
FIG. 8 , and in comparison toFIGS. 6-7 , thesolution mapping 252 may have processes 254-280 which are different from the original processes 202-228 of the organization, and such processes 254-280 may be organized intracks 282 or lanes different from thetracks 230 inFIGS. 6-7 . Some or all of the processes 254-280 may be common to the processes 202-228, such as the “Interview” processes 218, 268 and the “Commence Duties” processes 228, 280, and similarly some or all of thetracks 282 may be common to thetracks 230, such as an “Employee” track or lane and an “HR” or “Human Resources” track or lane. - However, despite any common processes or tracks, the
solution mapping 252 is distinct from theoriginal mapping 200 in that the processes 202-228 are re-arranged, modified, and/or deleted, and new processes may be added to present a proposed solution that minimizes or eliminates the risks in the overall organization. - Accordingly, an initial mapping may be prepared, and once management reviews and agrees on risk-mitigating solutions, the initial mapping may be revised to re-map the process flows to reflect the new control environment. The new maps reflect actual process flows and/or solutions with control points duly noted. Policies, procedures, forms, and information sources, as well as web-links, may be amended to conform to the new controls and may be hyperlinked directly to process steps on the maps. Using the interactive
risk management system 10 and method, staff members may access and know exactly what steps to follow at each process point to mitigate risk. - In addition to viewable process steps, “control boxes” are viewable and accessible within the flow for process monitoring on an ongoing basis. For organizations which have implemented BPM, the interactive
risk management system 10 and method is designed to work in conjunction with the metrics and controls which are being implemented. - The maps are available to all staff via their web browser, for example, through the organization's
intranet 32. Each member of the staff has the ability, with a click of the mouse button, to access all processes within a given product, service or area from the highest level to the day-to-day work within a department. Control points are easily visible and applicable procedures and forms are only a click away from a given process step. The “control boxes” ensure that the process flow, which already conforms to the “as is” process of the organization, is followed and make monitoring easy to accomplish. - Once the basic structure of the organization, including its procedures and polices, is mapped by the interactive risk management system and method, third parties may verify and update the maps regularly or on an as-needed basis, and may make the maps available on a web-hosted basis.
- In additional embodiments shown in
FIGS. 9-12 , the interactiverisk management system 10 and method may make use of indicators and/or other indicia or images in addition to and/or instead of stop signs to alert the user of the presence of additional risk analysis features within the displayed mappings, and so providing an enhanced mapping of the interactive risk management system and method. - In some embodiments of the present invention, significant control weaknesses are indicated in the mappings by stop sign images, which are linked and/or hyperlinked to an analysis page or other information, and optionally a proposed solution. To enhance the functionality of the mappings to be used as risk analysis and solution tools, the mappings may be expanded in additional embodiments to incorporate different and/or deeper analysis of the operational risks addressed by the interactive risk management system and method of the present invention.
-
FIG. 9 is adisplay screen 300 displaying the additional embodiment of the mappings, showing the use ofyield sign indicators other indicators yield sign circle 306, and a “CR” in acircle 308, to indicate to the user that the processes displayed substantially adjacent to the displayed indicators have additional information.Such circles 306 displaying an “R” may be a green color or any other predetermined color, and thecircles 308 displaying a “CR” may be green, amber, or red, or any other predetermined color, with such colors providing additional visual cues or indications to the user of the status of the process and any additional information associated with the process. - The stop sign image may continue to be used as shown in
FIG. 6 to signify a significant control-related weakness requiring immediate management attention, while the yield signs 302, 304 signify an important control consideration or an enhancement to the risk control infrastructure of the entity or facility which is recommended. - By accessing the yield signs 302, 304, for example, by clicking a mouse when the mouse cursor is over the selected yield sign, a
display screen 310 as shown inFIG. 10 is generated for displaying a list of accessible control reports, with correspondingGUI actuation regions - Information associated with the reports and
corresponding actuation regions list 310 is accessed from theyield sign indicators FIG. 9 , with examples of such accessible reports, displayed via actuation of theregions FIGS. 11-12 , respectively. Each report may be indexed by a reference number shown within the corresponding yield sign, such as the first report labeled by reference number “1” in thelist 310 with acorresponding label 320 displayed in the first yield sign, and the second report labeled by reference number “2” in thelist 310 with acorresponding label 322 displayed the second yield sign. -
FIG. 11 is adisplay screen 316 displaying a first report corresponding to thefirst yield sign 302 which reports repaired items over various periods of time.FIG. 12 is a display screen displaying a second report corresponding to the second yield sign which reports compensation claims over various periods of time. Such reports may include a spreadsheet, such as a “MICROSOFT” “EXCEL” spreadsheet, or a report, image, and/or printout generated by such spreadsheets or other software, such as “MICROSOFT” “WORD” word-processing software, “MICROSOFT” “ACCESS” database software, or “ADOBE” “ACROBAT” image software. As shown inFIGS. 11-12 , the reports may include data 324-326, text 328-330, and/or graphics or images 332-334, such as charts including bar charts. - Regarding the other types of indicators, in an example embodiment, the “R” in the
green circle 306 inFIG. 9 may be actuated by clicking the mouse when the mouse cursor is over thegreen circle 306, and such actuation causes the display of a management report produced in the normal course of business. In the example embodiment, the “CR” in acolored circle 308, as shown inFIG. 9 , provides access, for example, by mouse actuation, to control reports specifically developed to control a certain defined element of operation risk. A “CR” in a green circle indicates the availability of a report which has been produced but with no specific risks or considerations to be acted on. “CR” in an amber circle indicates an enhancement or recommendation to a control report which management should consider. A “CR” in a red circle indicates either the lack of a control report at a critical risk junction or a significant enhancement which is required in an existing control report in order to make the control report effective to measure the identified risk. Alternatively, instead of letters, number, symbols, and combinations of letters, numbers, and/or symbols may be displayed in the circles. - Other letters or symbols in circles or other geometric shapes, as well as other predetermined colors shading such geometric shapes, may be used to indicate the type and/or nature of the corresponding reports, and to provide corresponding reports upon GUI actuation, according to a predetermined report indicator scheme, such as the stop and yield signs and colored and labeled circles described herein.
- In the case of control reports, the user of the interactive risk management system and method, with such mappings and visual indicators, has the ability to link and/or hyperlink from the indicators, such as a report circle, to an analysis page in which a chart sets forth salient details about the report, such as the name of the report; its purpose, for example, in terms of the risk being controlled; to whom the report is circulated; the frequency of production of such reports; and indicators of who is responsible for monitoring such risks. The interactive risk management system and method may also hyperlink to a copy of the relevant report itself.
Claims (18)
1-25. (canceled)
26. An interactive risk management system for an organization comprising:
a computer including:
a processor;
an input device;
a display device for displaying a graphic user interface including a browser;
a memory; and
a multi-dimensional mapping for visual display of steps of a plurality of processes carried out by the organization and at least one risk message associated with at least one of the steps, the multi-dimensional mapping being stored in the memory;
wherein the processor, in response to user selections through the input device, displays to the user through the browser the multi-dimensional mapping of the plurality of processes, with each of a set of the displayed processes having an associated user actuatable display region; and
wherein the processor, in response to user actuation of an actuatable display region of a selected step, displays to the user through the browser the at least one risk message associated with the selected step, thereby displaying to the user information about the selected step and its associated risks.
27. The interactive risk management system of claim 26 , wherein the memory is accessible through a computer network, whereby any user, using the browser and communicating via the computer network, may access and view the mapping and may actuate the actuatable display regions to selectively view the at least one risk message.
28. The interactive risk management system of claim 27 , wherein the computer network is an intranet.
29. The interactive risk management system of claim 27 , wherein the computer network is the Internet.
30. The interactive risk management system of claim 26 , wherein the actuatable display regions are associated with link data addressing linkable data stored in the memory; and
wherein the processor, in responsive the actuation of a selective actuatable display region, communicates with the memory via a respective link data to retrieve the corresponding linkable data.
31. The interactive risk management system of claim 30 , wherein the link data is a hyperlink.
32. The interactive risk management system of claim 26 , wherein the processor operates mapping software to display the mapping and the plurality of steps as graphical representations on the display device.
33. The interactive risk management system of claim 32 , wherein the mapping software displays a graphical stop sign image on the display device to indicate risk information available to the user.
34. The interactive risk management system of claim 32 , wherein the mapping software is graphics software.
35. The interactive risk management system of claim 26 , wherein the mapping includes a plurality of horizontal lanes corresponding to at least one process carried out by a unit of the organization having at least one step in one of the plurality of horizontal lanes that is vertically connected to a step in a different horizontal lane that is carried out by another unit of the organization.
36. An interactive risk management method for providing risk information associated with one or more of a plurality of processes of an organization, the method comprising the steps of
providing a computer including a processor, an input device, a display device, and a memory;
displaying a graphic user interface including a browser on the display device;
storing in the memory a multi-dimensional mapping for visual display of steps of a plurality of processes carried out by the organization and at least one risk message associated with at least one of the steps;
receiving at the processor user command signals entered through the input device;
displaying to the user through the browser the multi-dimensional mapping of the plurality of processes, with each of a set of the displayed processes having an associated actuatable display region;
receiving at the processor signals corresponding to user actuation of an actuatable display region of a selected step;
displaying to the user through the browser, in response to the user actuation, the at least one risk message associated with the selected step, thereby allowing the user to gain information about the selected step and any associated risk.
37. The interactive risk management method of claim 36 , further comprising:
providing inputs by users using the input device and a browser connected to a computer network;
communicating command signals through the computer network to access and display to the user the mapping; and
actuating the actuatable display regions to selectively view the at least one risk message.
38. The interactive risk management method of claim 37 , wherein the computer network is an intranet.
39. The interactive risk management method of claim 37 , wherein the computer network is the Internet.
40. The interactive risk management method of claim 36 , further comprising:
associating actuatable display regions with link data addressing linkable data stored in the memory;
responding at the processor to actuation of a selective actuatable display region to communicate with the memory via a respective link data; and
retrieving the corresponding linkable data.
41. The interactive risk management method of claim 40 , wherein the link data is a hyperlink.
42. The interactive risk management method of claim 36 , wherein the mapping includes a plurality of horizontal lanes corresponding to at least one process carried out by a unit of the organization having at least one step in one of the plurality of horizontal lanes that is vertically connected to a step in a different horizontal lane that is carried out by another unit of the organization.
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