Streamline Risk and Controls Self-Assessment (RCSA) and incident monitoring for optimized risk management.
RCSA is the process of analyzing and evaluating operational risks and controls. The system’s incident recording feature allows for the identification of new risks as well as the ongoing monitoring and reevaluation of existing risks for changes in impact and probability.
We offer a quick and systematic approach to RCSA and incident monitoring, ensuring that all critical information is logged in a consistent manner. We give a clear technique that does not require specialized expertise by end-users while also allowing experts to receive all of the information they require by minimizing complexity and automating required processes.
There are ways for both qualitative and quantitative evaluation. The qualitative characteristics of each operational risk can be fully described with full risk classification specific to your company’s business structure, separate documentation, and intrinsic risk, controls, and residual risk rating. Standardized EMV and 3-point estimates can provide clear information on the risk’s impact on your firm for quantitative assessment. Recorded KPIs include:
Basic risk and incident information such as affected departments and functions, date and time information, and classification KPIs.- Qualitative information such as occurrence and impact scores and total risk or incident grade.
- Quantitative information such as EMV estimates with options for multi-occurrence events calculations, Triangular and Beta estimates, control impact estimators with distinction between internal and external controls, and manual entry options for potential and actual estimates
- Automated calculation of quantitative KPIs for residual risk based on innate risk and controls information
Reports can be generated for risks and incidents at fixed intervals or for custom time ranges. KPIs are summarized automatically and presented in a convenient interactive dashboard style report.
Learn more on how to standardize and structure your risk management process and reduce time to value for RCSA.
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