Isle of Man security company launch risk management platform

As a leading offshore centre, the many businesses working within the Isle of Man’s regulated sector are very familiar with their responsibilities under financial service’s legislation. Managing the multitude of risks associated with the various entities they interact with, such as, businesses, customers, data, and technology is a necessary, but often burdensome process. The most pressing challenges are most often associated with, ensuring compliance, consistency, demonstrability, and efficiencies in terms of staff time.

It was with this in mind that Colin Tansley Managing Director of Intelect, an Isle of Man company, came up with the idea of IRIS. IRIS stands for the Intelect Risk Insights System. A former senior police officer turned independent risk and security professional, his company offer a range of services to global clients ranging from cyber security to due diligence, and training.

Designed with small and medium business owners in mind, IRIS provides an online platform where users can more easily identify, assess, mitigate, and manage their organisational risks. Templated, risk-rated surveys provide the ability to monitor their security processes and levels of exposure. This ensures corporate governance obligations are met and alignment with regulatory legislation is preserved on an ongoing basis.

The survey output allows for editing, reporting, and downloading, thus demonstrating a clear insight into the overall risk status by managing any uncertainties at a given moment in time. It also provides an auditable record of activity that can be used to show the business is taking the necessary measures to keep themselves both compliant and safe.

As a locally based Head of Compliance commented recently; “What I really like about IRIS is that it is homogenous, it is the same for everyone that sits in front of the screen, it provides consistency, uniformity and if you are not familiar with risk assessments, it is educational as well.”

More details can be found on the website https://intelect-group.com/iris/ with the company also offering 1-2-1 supported calls to assist business owners with their cyber risks.

The following risk assessments are available on the platform:

• AML/KYC for customer and business
• Comprehensive cyber
• Data Protection
• Fraud
• Technology

(Staff take on, is currently in development)

Should you wish to contact Colin to discuss the system please email him at info@intelect-group.com or via the call back option on the IRIS website.