Presenting to your Board? Can you show mitigation activities for key risks? Are the risk interrelationships that are impacting your organization clear?
Expectations are high. Communication is critical.
Riskonnect and our subject matter experts can provide what you need for your Board Presentation within 48 hours.
In the wake of the recent financial crisis, risk management is being redefined. Many times, risks that brought about corporate collapses were overlooked or never escalated to the attention of executives or the board. Organizations need to improve their ERM practices to stay competitive and realize growth in today’s economy.
Stakeholders are demanding greater understanding and detail around risks that may affect the enterprise. Do you have what you need to present to your Board of Directors and executive management? How are you going to make this an ongoing process rather than a one-off event.
New technology from Riskonnect ERM provides:
- Holistic or Enterprise-wide risk view
- Interdependencies or Interrelationships of risks–giving the ability to
manage a portfolio of risks understanding risk correlations versus risks in
silos with no connections among the risks
- A central repository for risks and risk-related information
- A communications platform enabling risk discussion, visualization and
understanding around risks
- A sustainable, repeatable process
- Easy to use technology that can be rolled out to the enterprise enabling
risk management to become a part of the daily activities rather than a
one time annual assessment
Spreadsheets and presentation software cannot meet today’s demands:
Rudimentary exhibits for Boards and executive management do not enable effective discussion or understanding of risks and risk relationships. These non technical tools do not aggregate the cumulative cost of risks and interdependencies of risks. These tools have hidden costs, are not auditable and pose security issues.
Call for a risk management consultation, executive briefing and Riskonnect ERM demonstration. Within 48 hours, you can present to your Board:
- Compelling, easy to understand visualizations of risk relationships and
risk profiles created instantly by the Riskonnect ERM system using your
organization’s risk data and risk detail
- Holistic or Enterprise-wide Risk Profile of key risks
- Risk Maps showing history and target levels for key risks
- Details of risk assessment, risk ownership and risk mitigation activity for
key risks and risk drivers
- A communications platform with drag and drop assessment capabilities to
facilitate the disccussion and assessement of risks in a Board room
Spreadsheets are a Risk for Risk Management
All companies face risks. The ones who seem to succeed year over year and rebound most quickly from a major disruption are those that have embedded and formalized processes to not only identify risks, but also to mitigate those risks. Standard & Poor’s analysis of the ERM practices of insurers has shown that those companies who have implemented ERM have been able to weather the recent economic storms better, and recover quicker than those without an effective ERM process in place. Riskonnect GRC is a comprehensive, web-based system that gathers diverse risk data from across the enterprise in a highly visual manner so that risks are easily identified, assessed, and mitigated. It represents a quantum leap beyond commonly used tools like spreadsheets. No other software enables users to enter and dynamically visualize risk relationships, communicate risk assessment and mitigation activities, and see the impacts of risk on objectives and financials.
Download a White Paper:
Read Chris Duncan’s expert commentary: Add Spreadsheets to Your Risk Inventory