Case Study: OMV streamlines enterprise risk management and audit assurance with Sword GRC’s Active Risk Manager (ARM)

OMV Streamlines Enterprise Risk Management and Audit Assurance with ARM

OMV, Austria’s largest listed industrial company and an integrated oil and gas business, needed a way to strengthen enterprise risk management and audit assurance across its global operations. To support its organization-wide ERM program, OMV selected Sword GRC’s Active Risk Manager (ARM) in 2011 to automate and improve risk identification, assessment, monitoring, and reporting.

Sword GRC implemented ARM to create a single, web-based system with standardized risk content, automated reporting, risk rollups, alerts, and qualitative and quantitative analysis. The solution improved risk quantification and visibility across the business, and with ARM 7 OMV became the first to receive the integrated audit assurance module, enabling global audit recommendation management and a “single source of truth” for risk and audit information.

OMV

Ernst PETRI

Senior Vice President, CAE