MEGA HOPEX Review

The GUI appears visually appealing, but standardization is lacking


What is our primary use case?

  • Operational Risk Management - Risk and Control Self Assessment (RCSA)
  • Operational Risk Event Reporting and Operational Loss Database Management
  • Control Log for corrective action plans.

How has it helped my organization?

MEGA offers a more integrated GRC platform to facilitate enhanced coordination between the functions of Risk, Compliance, and Internal Audit on a single platform solution - HOPEX. The product for us is still in the testing/onboarding phase, hence I cannot give a firm opinion on the product's performance.

What is most valuable?

So far, the GUI seems more visually appealing than the traditional Nasdaq-BWise application that I am used to. The dashboard on the homepage makes for an enhanced view at a glance of the various work functions applicable to the user. The tabs seem to show a wide array of functions and a promise of higher interactivity.

What needs improvement?

Standardization is lacking. The Operational Risk Function will be more effective if it at a default level follows established Basel standards for Loss categorization, Risk Assessments, Risk Event categorization, etc.  

For how long have I used the solution?

Trial/evaluations only.
Disclosure: I am a real user, and this review is based on my own experience and opinions.
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