OeKB Group tackles risk head-on
Learn how to protect your business with risk and compliance management, avoiding the potentially devastating risk of noncompliance.
Austria’s Oesterreichische Kontrollbank AG (OeKB) sets high standards for how it handles risk, so it decided to align its business processes with the goal of end-to-end central risk management.
For 75 years, export credit agency OeKB Group has been supporting the Austrian economy by creating attractive conditions for the export and capital markets. Increasing market and regulatory pressures motivated OeKB to improve operational excellence while remaining adaptable and fit for the future.
After an intensive selection process, these requirements led the bank to choose Software AG and ARIS. The final solution was carefully selected as part of a proof of concept (PoC) and, with Software AG’s support, the bank then took about three months to define its requirements.
OeKB subsequently decided to implement ARIS as an integrated management tool that can handle the database-supported integration of its different requirements and merge the worlds of process and risk and compliance management.
All processes under one roof—with ARIS
With the help of ARIS and Software AG’s crack Professional Services team, the bank integrated all its processes, risks and controls into a central enterprise management system as a single source of truth. OeKB has a complete overview of its business processes so it can make the associated business aspects, such as risks/controls and responsibilities, visible on the process model level.
In addition to capturing and classifying the non-financial risks—generic risks within the company as well as process-related risks in the internal control system (ICS)—ARIS delivered many benefits for the bank including user-friendliness and transparency.
The risks for the entire group can be displayed centrally via dashboards while subsidiaries can easily capture and evaluate their own risks at the push of a button without needing specialized knowledge of the tool.
“In short: ARIS is easy to use, secure and absolutely transparent.”
Regina Janitsch, Senior Manager Organization and Process Management
By integrating process and risk management, the bank can implement its strategic realignment and meet strict regulatory requirements – supported by tools. At the same time, OeKB is strengthening its standing with regulatory authorities.
And the cost savings compared to alternative providers is appealing, of course. The license model and the easy, decentralized process modeling help the bank reduce costs overall and position itself as a leaner, more customer-centric organization.
The first go-live for risk management was in September 2020, with a total of 50 mapped processes and 300 risks. Over time, all the ICS processes will be transferred into the process management solution.
All in all, OeKB is now smarter and more fit for the future and is already thinking about the next steps toward measuring and managing processes. Process mining is also a focal topic, to increase process digitalization.
OeKB is on a steady chosen path to greater operational excellence with ARIS.