Unified Risk Management Reporting 📊

Here's an objection I hear often.

If you have multiple risk areas that doesn't work within the same scale and the same naming, how do you then make one summarized management report in legal?

We have done that by not looking at the scale and the naming, but simply looking at the numbers that exceed the risk appetite within each area and thereby becomes a risk that we have said we need to look into.

In the platform it looks like this, you will have one management report.

This will summarize high risk on each level or each area that you work with.

It will also give you a summarized exposure in terms of economics and a summarized number.

And this number will be looked at in terms of your organizational risk appetite limit.

So in this example we have said we can accept 4 high risk within the organization as a whole.

But in this example we have seven.

So the risk appetite have been exceeded.

Then I can look into the areas and what we summarize within an area are these.

So in this example I have three risk over appetite because I have designed this area to mark these as high risks.

And within this I have four because I have marked these as the areas where I can't accept the high risk.

if I then implement some mitigations.

Let's just do it like this.

Then I can of course downgrade a risk, within a given area.

So we complete it.

I applied this and in this overview, now I will only have three.

And this is now what I will summarize on the management report.

So this example, you can do it within different areas with different scales and different namings, because we simply count the numbers that exceed the level of risk we can accept within an area.