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Enterprise Risk Management (ERM)
Lumio ERM removes the friction, cost, and complexity from risk and performance management, offering a panoramic view of your organization's risk.
Empowerings Each
Line Of Defense
Actively manage inherent, residual, and actual risk at 1st, 2nd & 3rd Lines of Defense.
Align Institution’s Behavior & Risk Appetite
Embed a Culture of Risk
Connect Risk & Strategy
Enable Efficient & Effective Regulatory Engagement
Monitor Risks & Controls of Daily Operations
Connect Strategy to Risk, Enabling Enterprise Visibility
By seamlessly linking risk to business objectives, Lumio empowers risk officers to effectively manage and mitigate risks, enhance operational efficiency, and ensure robust compliance, all while aligning with the organization's strategic goals. Here are a few benefits Lumio ERM offers:
Strategic Risk Alignment
Empowers risk officers with a key role in decision-making by linking risk management directly with strategic business objectives, ensuring alignment at all levels of the organization.
Cost and Risk Reduction
Minimizes hidden operational inefficiencies and mitigates regulatory and business risks, ultimately reducing overall operating costs and enhancing financial stability.
Risk Management Execution
Equips teams to implement a proactive risk strategy, enabling effective risk briefings at management levels and streamlining board-level reporting for timely decision-making.
Data-Driven Risk Insights
Transforms raw data into actionable Key Risk Indicators (KRIs), personalized and categorized by risk attributes to provide clear, data-driven insights for enhanced decision-making.
Trend Monitoring and Risk Control
Monitors and analyzes risk trends, identifying potential risks that exceed the organization’s risk appetite, allowing for prompt action to prevent exposure.
Cross-Functional Collaboration
Facilitates collaborative risk tracking and reporting, enabling cross-functional teams to monitor, report, and act on risk improvement initiatives across the organization.
"With our asset base growing rapidly, we recognized that we need to invest in integrating out established Enterprise Risk Management program into a comprehensive platform. Our choice to partner with this team was driven by the necessity of a robust risk data repository, capable of consolidating data from diverse sources and enabling seamless monitoring of our enterprise risk profile."
EVP and CRO of Vantage Bank
Empowering Institutions with Actionable Insights to Optimize Risk
Lumio utilizes a holistic approach to risk management, offering a comprehensive view of your organization’s entire risk profile, empowering you to make data-driven decisions and proactively mitigate risks or identify areas of opportunity.
A Holistic View of Risk
Lumio ERM offers the board and executive team with a panoramic view of risk across the entire organization for an accurate picture of all risks and performance indicators to make better decisions.
Break Down Silos
When everyone is reading off the same page, communication and colloboration improves. Lumio ERM breaks down silos across each line of business to provide leadership and the Board with full risk transparency, and help the company stay compliant with regulators.
Timely Data = Transparency
A clear, transparent and universal language improves communication and ease-of-use. Lumio ERM keeps your data fresh and current with on demand reports and data visualizations at your fingertips. No more waiting for everyone to update your excel spreadsheet.
Explore Other Lumio Risk Apps
Enterprise Risk Management (ERM)
Whether responding to regulatory pressure, enabling board oversight, or strengthening internal controls, Lumio simplifies ERM with configurable frameworks, centralized data, and timely insights. It's not just risk management, it's risk intelligence.
✓ Mitigate Hidden Factories
✓ Execute Against a Strategic Risk Management Plan
✓ Transform Raw Data into Normalized KRIs
✓ Track & Report on Risk Improvement Activities (RIAs)
Risk and Control Self-Assessment (RCSA)
Lumio RCSA is more than just a tool; it’s a strategic asset designed to empower your institution to thrive in the face of uncertainties. Say goodbye to multiple-system management, as the RCSA is integrated within Lumio’s Risk Suite, creating a centralized hub for your risk program.
✓ Tailored to Your Uniqe Institution
✓ Enables Full Control of the Self-assessment Process
✓ Flexible Hierarchy Creation
✓ Integrated & Rolls-up to ERM & Accessible To All Users
Program Risk Assessment
Lumio’s integrated risk assessment tools are informed by regulatory guidance and maintained by our in-house team of risk professionals. Retire manual processes and outdated excel templates by leveraging Lumio to execute your program risk assessments.
✓ Centralize & Automate Systems
✓ Enhance Efficiency & Productivity
✓ Enable Risk Visibility
✓ Gain Regulatory Confidence
Risk Maturity Framework
Learn how Lumio's Enterprise Risk Maturity Framework, a diagnostic and prescriptive self-assessment tool to elevate an institution's enterprise risk management program and track progress over time.
✓ Engage & Educate Leadership
✓ Identify & Prioritize Risk Gaps
✓ Monitor & Track Progress Over Time
✓ Leverage Peer Comparison Benchmarketing
FinTech Risk Management
Confidently enter FinTech partnerships with a better understanding of the capabilities and associated risks of each partner. With Lumio's FinTech Risk Framework and self-assessment tools, you can identify improvement areas, develop a roadmap to enhance risk infrastructure, and evidence progress to regulators
✓ Assess Company-Wide FinTech Competence
✓ Identify New FinTechPartners & Onboard
✓ Conduct Periodic Risk Assessments
✓ Data-visualization & Detailed Reporting
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