Being able to evidence and report on Risk Management activities is important for all firms. The Risk & Compliance System has a series of automated reports and charts that makes reporting and collating evidence simple.
Begin by navigating to the Risk Register Reporting Dashboard by clicking the Reporting drop-down on the Home Page and selecting Risk Register.
You will first see several charts that provide a visual representation of some key data areas, for more information please see Risk Register Reporting Charts .
Based on the reporting period selected using the date filters at the top of the page, the first three charts detail the number of records added to the system broken down by the following areas:
Risk Records added to the system can be tagged with one of the following Risk levels; Low, Medium and High.
Risk Records added to the system can be tagged with one of the following Risk Likelihood options; Unlikely, Rare, Possible, Likely and Almost Certain.
Risk Records added to the system can be tagged with one of the following Risk Consequence options; Moderate, Minor, Major, Insignificant and Catastrophic.
At a glance, these charts can help to identify trends when performing internal risk reviews; and can support you in producing evidence for regulators, or when negotiating premiums with insurers.
The additional charts provide a breakdown of how your risk have been categorised and the areas of the business they impact on. These charts can be very useful for assessing internal performance, identifying problem/improvement areas; and implementing better controls for mitigating these risks in future.
In order for the data in these charts to be representative of your firm, ensure you have added your Internal Categories, Departments and Practice Areas. For more information on how to add these, see Adding in your Company Information.
Should you need any further support please contact the Customer Success Team at email@example.com or call 01829 731 200.