Riskenomics & Aadroit Systems: Dependency Modeling Tool to Identify and Manage Premises and Operational Risk
Headquartered in London, Aadroit Systems offers Riskenomics, a premises risk management tool that helps organizations to systematically model, identify and manage operational risk across their property portfolio. The company offers standard and customizable dependency models across a range of functions including compliance, health and safety, critical engineering, facilities management, security and supply chain. Riskenomics looks at how the organization would manage if it lost one or more of the critical systems needed for success, so that it can put in place appropriate procedures or safeguards.
Riskenomics captures risk via questionnaire-based self-assessment and live feeds from other systems. The tool analyses critical dependenciesand offers instant reporting and live, dynamic risk profiles via a suite of highly visual dashboards that provide the high level overview, as well as drilling right down into the detail. It is also used for disaster recovery and scenario planning. “We identify what is needed for success and evaluate and simulate how risk events impact on the business,” says O’Leary.
Further, the company provides data center operational risk models which focus on the 4 Ps – people, plant, process and premises. They model critical infrastructure and critical operational requirements, which allow management of risk across both hard and soft systems.
Riskenomics prides itself on its flexible, adaptable risk management solutions. “Whether the problem lies in the organization or in their supply chain, we stabilize the risk and help clients facilitate its closure,” says O’Leary. For instance, Aadroit Systems implemented a risk assessment and risk analysis platform for a financial institution’s global mission critical and critical building portfolio.
The client used Riskenomics to capture risks across numerous operational functions via periodic self-assessment. Through this, each risk went through a triage process to ensure it was valid and properly identified. The agreed risks formed a central risk register where ownership was assigned and mitigation of the risk was managed to closure through a stage-gate process, with a full audit trail throughout.
Aadroit has built its reputation in the risk industry over many years – many clients say thatrisk is part of our DNA
Moving forward, Aadroit continues to develop Riskenomics, developing increased automation and use of fixed and wi-fi connectivity to reduce manual entry and mobile technology to make data more accessible to users and give clients competitive advantage. With their expanding global client base, they are looking to set up offices in Asia and US. “We also plan to expand our data analysis capability to improve data mining and intelligence which will allow clients to identify and address systemic issues and make informed decisions,” concludes O’Leary.