fORM 1.0 - Operational Risk Management for Financial Institutions

The Client/Server Solution of fORM is a two-tier system comprising a thick client accessing a relational database management system (RDBMS or DBMS) using ODBC (Open Database Connectivity).

fORM provides a company-wide, systematic, consistent approach to business risk management. Facilitating the identification, recording, assessment, treatment, and monitoring of risks across the Company, fORM provides a process for the identification and management of business risks throughout the organisation.

Combining the integrity of the Australian/New Zealand Risk Management Standard (AS/NZS 4360:1999) with the experience of organisations world-wide, fORM provides users with considerable flexibility to collect information, analyse that information, and provide structured and tailored reporting to unit and/or senior management and stakeholders. It provides customised reporting both centrally and at a business unit level.

All data collected is maintained in a centralised database. This database is centrally managed and updated locally

fORM provides users with a powerful, user-friendly risk management system that will:

Adopt a holistic approach to risk management with the ability to link loss event data to risks, controls, action plans and entities;
Record loss events and near misses across business lines and/or any other permutation, e.g. risk category etc,
Eliminate existing duplication;
Provide consistency in approach and output;
Significantly reduce report turn-around time;
Enhance analysis at both the business unit and company level; and
Provide increased security to the access of confidential risk information.
   
fORM comprises two components, the Designer Tool and End User Assessor Models.