Data-driven risk management
A Cyferd platform solution
“My biggest risk is that my risk registers are inaccurate or out of date”
Sound familiar? Most organizations have rigorous processes to ensure risk owners identify, document and manage risk. These invariably rely primarily on periodic review of risks and controls, and an effective tool to manage these activities improves performance and auditability of the risk management process.
But what if you risk management tool could prompt risk owners when risks need reviewing based on things that have happened in the business, rather than a calendar reminder?
That’s where our Active Risk Management platform fits.
Active Risk Manager allows you to connect risks directly to operational data that might affect them. When the operational data changes, the risk owner is automatically notified to review any impact of the change on the risk.
This makes risk management a live activity in the operations of the business.
In addition, the tool comes with everything you would expect from a risk management solution. Applying a bow-tie risk management process to identify preventative, detective, and mitigating controls for each risk, the tool then profiles risks and risk registers against the organizational appetite for risk in each risk category.
Individual risks have target risk profile scores and risk owners create an action plan for each risk.
The tool then identifies and reports risks that have:
outside the organizational risk appetite.
- Treated risk profiles that are outside the organizational appetite
- Not met their target profile but do not have an action plan, or that do not have a target profile
- Have inadequate preventative, mitigating or detective controls
To get a demo and find out how Active Risk Manager can simplify and reduce your risks, contact firstname.lastname@example.org.