CASE STUDIES

IRM

DIGITIZING RISK MANAGEMENT FOR ETHICS AND COMPLIANCE USING SERVICENOW



INTRODUCTION

An effective IRM program is the key to a long-term success for any business by helping organizations steer clear of risks and making smarter business decisions. We have solved a similar business issue for a Global Nutrition Giant which operates in more than 90 countries across the world. Our Key activities for Risk Management were:

  • To determine what level of risk the organization is willing to accept? Get risk data in place and then determine what is acceptable.
  • To develop a risk management policy, through risk frameworks and risk statements.
  • To develop risk assessment and response procedures.
  • To implement controls to reduce your organization’s exposure to risk. Repeat on a regular interval.
  • To measure the risk exposure and improvements.

CHALLENGES



SCOPE OF THE PROJECT



Risk Process Workflow



Risk Statements



Qualitative Risk Assessments

This is risk assessment which was generated in the assess state to the respondent and so on, like respondent, ECO, VP, CCO. Based on the assessment choices risk score were generated.


SAMPLE ASSESSMENTS




FACTORS

RATING SCALE


SOLUTIONS


The following Solutions were suggested to the client:


VALUE REALIZATION (SAMPLE DATA)



BENEFITS

CORRELATION

REPORTING

COST EFFECTIVE

TIME EFFICIENT, SEAMLESS & CONSOLIDATED

HISTORICAL DATA

VISIBILITY INTO ENTERPRISE- WIDE RISKS

SIMPLIFIED WORK

POWERFUL, SIZE- SENSIBLE

METHODICAL APPROACH

DIGITAL WORKFLOW FOR RISK HANDLING


RESULTS


WAY FORWARD