OpenPages ORM software automates the process of identifying, measuring and monitoring operational risk, integrating all risk data in a single risk analysis solution.
Union Bank selected OpenPages ORM as the operational risk system of record for managing risk assessments, key risk indicators (KRIs), external losses, issue management and scenario analysis. Union Bank will also use OpenPages for integrated risk reporting.
Marty Blaauw, senior vice president of operational risk at Union Bank, said: “We are confident that OpenPages’ solution will allow us to streamline our operational risk management and measurement process and provide the integrated risk reporting and dashboards being requested at the executive level.”
UnionBanCal is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, which is a subsidiary of Mitsubishi UFJ Financial Group.
