Management Dashboard
Previous risk management practices focused on specific operational functions within the organization and were performed by someone familiar with that function, focusing on risk avoidance. The Management Dashboard Package takes this current risk management process to the next level, by placing greater emphasis on cooperation among departments to manage the organization’s full range of risks as a whole. The concept of our Management Dashboard embodies the notion that risk analysis cuts across the entire organization. It also changes the approach from risk avoidance and moves more into risk alignment.

The Management Dashboard contains three modules.

Enterprise risk Management (ERM) MODULE

  • Create your basic enterprise risk assessment from pre-loaded best practice information and customize by adding your own unique risks and controls
  • Expand upon the basic risk assessment by soliciting specific departmental needs and concerns
  • Take the entire process to the next level by incorporating Key Risk Indicators (KRIs) for one or more of your risks
  • Built-in process to help overcome effects of optimism bias
  • Provides a framework for consistency regardless of the user
  • Compare assessments to each other, past assessments, or to pre-loaded information for changes
  • Instantly access downloadable reports from high level summaries, heat maps and detailed associations between objects, risks, and controls
  • Interactive charts
  • Attach documents to support any items in the risk assessment

CONTROLS AUDIT MODULE

  • Create audit procedures that are associated with controls from the above risk assessments
  • Audit frequency automatically calculated based upon the inherent risk values (customizable)
  • Audit calendar
  • Assign audit owner(s) to one or more audit procedures
  • Email reminders on pending and overdue audit procedures
  • Attach any audit documentation to support audit findings
  • Prepare and report on audit findings and recommendations
  • Management can easily document and report on recommendation status, such as accepted, rejected or tabled

TASK MODULE

  • Manage multiple tasks, assigned to multiple assignees
  • Email reminders
  • Customize task categories
  • Document stage of completion and actions taken, and add attachments needed to support the steps taken
  • Flexible task reporting

Enterprise Risk Management Webinar

Implementing ERM software is an admirable step towards embracing risk management rather than risk avoidance.  This is one of the best ways get truly understanding your true risk position and then using this information to maximize profits.  But risk management teams sometimes do not start from a firm foundation and find the process difficult.  This webinar outlines the basics of enterprise risk management and some best practices to help ensure your program is successful.

View the ERM Webinar