Executive Management
Being the Chief Balancing Officers for better performance
Executive Management bears the ultimate responsibility for the success or failure of the business. As Chief Balancing Officers, Executive Management needs to understand and manage across financial and operational systems.
This is the crux of its information challenge. And it is the most significant advantage of a performance management system.
Executive Management has two decision areas like those from other departments, and four compound decision areas that reflect their particular balancing role. The first two are:
A-Risk Management
Are we managing the risks of sustaining this performance?
The Risk Management decision area provides a consolidated view of several categories and hierarchies of risk, such as operational, credit, and market risk. In addition to these, organizations must monitor environmental and natural risks that impact disaster recovery and business continuity for better performance management.
Having a single integrated universe of identified risks that cuts across common organizational units, functions, and business processes enables more coordinated and cost-effective risk responses.
With the Risk Management decision area, you can set planning goals and scorecarding metrics for elements such as:
• Loss incidents (#) & Value (R)
• Risk level index
• Claim payments (R)
• Claims aging
• Credit balance (R)
• Loss incidents & Value (R)
• Operational risk rating
You can analyze these goals and metrics by a number of dimensions to find the hidden gems in the data, including:
• Credit limit range
• End customer location
• Date
• P ...