From this article, you will learn about:
What a Key Risks Indicator (KRI) is
What the KRIs feature is used for
Examples of KRIs
KRI links to other modules
Key Risk Indicators (KRIs) are metrics used to measure Risk. Any piece of data that can perform this function may be considered a KRI.
KRIs are defined occurrences or trends that show whether a risk is more or less likely to occur over time.
Use the KRIs feature in Ansarada GRC to periodically schedule and record measurements to monitor Key Risk Indicators. Action can then be taken if the indicator shows a deterioration in the trend or rating of a particular risk.
Examples of KRIs
The following table shows some examples of KRIs.
KRI | KRI Measurement |
Senior Management Turnover | The number of Senior Managers that have left the organisation in the last quarter. |
OH&S Claims | The number of Occupational Health and Safety claims submitted in the last month. |
System Downtime | The number of hours that the computer system has been offline in the last month. |
KRI Links
KRIs can be linked to Risks:
KRI | Risk |
Senior Management Turnover | Inability to attract and retain key personnel. |
OH&S Claims | Injuries to employees suffered at work. |
System Downtime | Core banking system unavailable to clients. |
KRIs can also be linked to Events:
KRI | Event |
Senior Management Turnover | Resignation of Chief Financial Officer. |
OH&S Claims | Employee has suffered a broken ankle by slipping over in the toilets. |
System Downtime | Core sever failure. |