CUE Risk

CUE risk is the Risk Management module of the integrated Ecosystem that helps the organisation in identifying, assessing, and managing potential risks that could affect their operations, finances, or reputation.

CUE Risk - Integrations

In addition to integrating with other modules like Incidents, Changes, Compliance, and Outsourcing to provide a comprehensive 360-degree view of your business, the application seamlessly connects with Microsoft Teams and SharePoint. This integration enhances engagement within the organization and among its staff while ensuring data retention within the organization’s own environment.

Risk Identification

CUE Risk integrates with the CUE ecosystem, offering a comprehensive master bank of risks specific to the Credit Union sector. It covers the 9 prudential categories under the PRISM framework and additional sources like conduct and insurance risks. This master bank is regularly updated as new risks are identified within the sector.

Risk Mitigation & Controls

CUE Risk module offers comprehensive guidance on risk mitigation strategies, regularly updating both the guidance and the risk master bank. It includes proactive, detective, and preventive measures to help organizations manage risks efficiently. This ensures a robust and adaptable risk management function, supported by preventive, detective, corrective, and directive controls.

Risk Mitigation and Controls

The module offers guidance on risk mitigation strategies, regularly updating both the guidance and the risk master bank. It includes proactive, detective, and preventive measures to help organizations manage risks efficiently. This ensures a robust and adaptable risk management function, supported by preventive, detective, corrective, and directive controls.

Incident, Change & Outsourcing Integration

CUE RISK integrates with the CUE Ecosystem, allowing for the capture and association of incidents and changes with identified risks. Additional workflows, such as Incident Management and Change Management, can be configured within the CUE Ecosystem, enabling staff to log incidents and changes easily. This integration helps risk managers align risk management with the organization’s operational dynamics.

MS Teams and SharePoint Integration

CUE Risk integrates with SharePoint and Microsoft Teams, offering single sign-on for efficient staff engagement. Data remains within the organization’s environment, ensuring control and protection. It also enables the generation of customized reports alongside standard ones, enhancing overall risk management capabilities. This integration eliminates the need for additional logins, streamlining organizational processes.

Evolving Master Risk Register

The Master Risk register is frequently updated with new risks and registers, gathering information from the sector and adapting to changing regulations. Risk managers can customize registers to meet specific requirements, in addition to using the standard risk registers available within the system. This ensures comprehensive and tailored risk management for multiple organizations.

The Technology

The CUE Ecosystem, which includes CUE Risk, Incidents and Changes is developed using the technology stack powered by the Microsoft Power Platform. Although the application is developed by SolutionOut, it resides within the client organization’s environment, adhering to the specific security and access protocols defined by the client. Consequently, any modifications to the security posture of the client’s Microsoft 365 or IT environment will also apply to the CUE Ecosystem. This arrangement grants the client more granular control over the security of their environment.

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Frequently Asked Questions (FAQs)

What are the primary features of the Risk Management software?

Our software offers a comprehensive suite of tools, including risk assessment, incident tracking, compliance monitoring, and reporting. It integrates seamlessly with existing systems, supports role-based access controls, and provides dashboards for real-time risk insights tailored to the needs of banks and financial institutions.

CUE risk also provides a comprehensive master risk register which can be used as a guidance by organisation risk managers. New registers can be created and existing registers can be customised.

There is guidance provided for control mechanisms and default answers as guidance.

There is detailed audit tracking to allow for audit controls and management.

Detailed reporting suite helps the organisation to create effective communication around reports.

How does the software ensure compliance with regulatory requirements?

The software is designed to comply with key regulatory frameworks on Operational Resilience and is being evolved to comply to DORA and other UK and Ireland financial regulations in the near future. The product team is lead by a Risk and compliance team of over 60 years of combined experience in the Financial sector. Regular updates ensure that the platform evolves with changing regulatory landscapes, keeping your organization compliant and audit-ready.

SolutionOut is focused on collective learning and that approach brings additional learning which will be integrated into the module.

Can the software handle third-party risk management?

Yes, the software includes registers specifically for managing third-party risks which integrates with the CUE Compliance and CUE Outsourcing and other CUE modules. It facilitates vendor assessments, tracks communication, and ensures compliance with outsourcing regulations, all through a centralized platform.

Is the software scalable for large financial organizations?

Absolutely. Our software is built to scale using the Microsoft power platforms integrating with Microsoft supported databases on the backend, accommodating the needs of both small institutions and large financial organizations. Customizable workflows and robust integration capabilities ensure the system adapts to the complexity and size of your operations.

How does the software address cybersecurity risks?

Cybersecurity is a top priority. The software incorporates features like incident management, granular change controls, and role-based security access. These tools help organizations proactively identify, mitigate, and respond to potential cyber threats, safeguarding critical assets and data.

Incidents and changes that are raised through the CUE Incidents and Changes can be integrated and reflected in an ICT or Cybersecurity risk register and actions can be completed through CUE tasks or through tests in CUE Compliance tests.

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