Risk management is at the core of every company’s governance, risk, and compliance (GRC) strategy. Brinqa risk manager centralizes your enterprise risk management program by providing a single solution for operational risk management (ORM) and targeted risk areas including, applications, infrastructure, projects, privacy, vendors, business continuity, and access governance.
Getting Real with AI - Columbus DAW - May 2024 - Nick Woo from AlignAI
Risk management
1. Risk Management
Risk management is really a central part of
any business's strategic administration.
Risk management is at the core of every
company’s governance, risk, and
compliance (GRC) strategy. Brinqa risk
manager centralizes your enterprise risk
management program by providing a single
solution for operational risk management
(ORM) and targeted risk areas including,
applications, infrastructure, projects,
privacy, vendors, business continuity, and
access governance.
2. Key Benefits Risk
Management
> Effective risk management through tools that
enable top-down and bottom-up approaches to
identify, measure and track risks.
> Holistic view of risk posture across privacy,
vendors, business continuity, access controls, etc.
enables informed decision making on acceptable
risks versus those that would incur damage to
reputation, large financial losses, or even jail time.
> Enforced accountability for residual risks
assigned to the appropriate owners (e.g., line of
business).
> Reduced costs through pro-active risk
management which increases risk protection levels
with fewer resources.
3. Vendor Management
Vendor management allows you to
construct a romantic relationship together
with your suppliers and service companies
that may strengthen each businesses.
A very well vendor management
relationship will result in elevated
consumer satisfaction, decreased expenses,
greater high quality, and much better
company from the dealer.
4. Key Features of
Vendor Management
• Robust vendor management process
maturity model includes support for CMM
and COBIT standards.
• Centralized vendor profile repository
manages contracts, assessments and
evidence.
• Out of the box integration with industry
leading-contract management systems.
• Executive dashboards report on the
organizations vendor management posture
and provide drill down to specific vendor
or contract views.
5. Risk Assessment
A risk assessment is an vital step in
guarding your workers and your enterprise,
in addition to complying using the law.
A risk assessment is merely a cautious
examination of what, inside your operate,
could cause hurt to people, in order that
you'll be able to weigh up whether you
have taken enough precautions or need to
do far more to stop harm. Employees and
other people have a right to become
guarded from harm caused by a failure to
take affordable handle measures.
6. Risk Assessment Steps
Stick to the five steps of risk
assessment:
Step 1 Identify the hazards
Step 2 Choose who may possibly
be harmed and how
Step 3 Evaluate the risks and
decide on precautions
Step 4 Document your findings
and implement them
Step 5 Review your risk
assessment and update if needed
7. Risk Assessment Steps
Stick to the five steps of risk
assessment:
Step 1 Identify the hazards
Step 2 Choose who may possibly
be harmed and how
Step 3 Evaluate the risks and
decide on precautions
Step 4 Document your findings
and implement them
Step 5 Review your risk
assessment and update if needed