Designing and deploying first rate risk and control taxonomies
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One of the common issues that comes out of running a risk management program is difficulty in producing an overall risk profile which can be presented to the board and management. This is often caused by disconnected risk data and can often be traced back to confusing and inconsistent taxonomies.
Watch the recording and learn how building and implementing strong risk and control taxonomies in your organisation can immensely help in aggregating information up to the highest level.
In this webinar you will learn:
- Why correct risk and control taxonomies are so important
- Common mistakes seen in these libraries
- How hierarchies can be set up within libraries
- How risk and control taxonomies are brought to life in Protecht.ERM central libraries, such as:
- Risk classifications
- Control classifications
- How to deal with new risks raised by the business in an ERM system
- How maintenance reports enable a review of orphan risks