Use Case Studies

Chief Risk Officer, Director of Risk Management, Risk Manager

In many organizations, the risk function is challenged by multiple silos within the organization and an inability to get a complete view of the company’s risk issues.  By implementing the ERMView system, risk issues gain immediate visibility at the highest levels of the organization along with the management of the risk function.  As the power user of the system, risk professionals elevate themselves into the C suite and Board Risk Committee as Enterprise Risk Management continues to be elevated into a key business process. In addition, the ERMView system creates a “sentinel effect” among all the providers to the company in the area of Enterprise Risk Management, Risk Transfer, Loss Prevention and Claims Management.  The system tracks the responsibilities of every user of the program to make sure key events and issues are not missed.  As an example, using the ERMView system should mean never getting your insurance renewal days ahead of your renewal dates.  If your renewal was promised 30 days in advance, ERMView will keep the responsible parties on track and ensure that promised deadlines are met.

Chief Financial Officer

As the individual who signs the company's public filings and annual financial reports, the CFO is materially responsible for the disclosures regarding the risks the organization faces and it would be reassuring to know that every category of risk, including Strategic, Operational, Financial, Hazard and Emerging, is being carefully monitored.  In an age of compensation clawbacks, having the company miss on shareholder expectations due to unknown and unanticipated losses begins to make Enterprise Risk Management very personal.  With the ability to see who owns what risk and how that risk is being mitigated, the possibilities for unpleasant surprises is lessened.  As the practice of Enterprise Risk Management becomes more widely scrutinized by regulators and rating agencies, new regulatory requirements regarding ERM are currently being promulgated and proactivity in ERM will be rewarded.

Board Risk Committee

In some organizations, it is becoming more difficult to filter the most important information regarding risk to the highest levels of the organization.  ERMView allows the key executives of the company to gain insight into the risk management practices of the company at the most granular level desired.  Accessing ERMView and reviewing the Executive Dashboards tab provides executives with up to date company information quickly and easily.  Be as informed as those working daily on risk management efforts and dramatically increase oversight ability.

The Soteria Risk Expert Council

The Soteria Risk Expert Council is an advisory group consisting of specialists from various disciplines, professions and industries that have entered into a contractual relationship with Soteria Risk, allowing us to bring their subject matter knowledge and expertise in various areas related to Enterprise Risk Management to Soteria Risk and its clients.

The members of the Expert Council lend credibility and skills to the work which Soteria Risk performs, both through their direct involvement and the weight of their reputations.  Our pre-existing relationships with these experts allow us to quickly deploy them as needed for specific client issues.  They provide intellectual capital in respective areas of expertise on an ongoing basis to keep our clients continually informed on the latest issues.

*The Soteria Risk Expert Council Directory is currently being updated with additional pictures and biographies.  Please check back here later to view the entire list.