All Collections
GRC
Risk
Ansarada GRC: How to Configure General Risk Settings?
Ansarada GRC: How to Configure General Risk Settings?

Ansarada GRC: How to Configure General Risk Settings?

N
Written by Neha Aswal
Updated over a week ago

Please note: These Procedures show customisable titles and fields in (brackets). Where you see a title or field value in brackets, be aware that your Ansarada GRC system may show a different title or value, depending on your system’s configuration.

Configure General Risk Settings

  1. On the Main Menu, select Maintenance | Configuration.

  2. The Ansarada GRC Configuration Page is displayed.

  3. Click the Risks & Key Metrics tab.

  4. Update fields as required. See the following Edit sections for details on each section.

  5. To Save any changes, hover over, or click the Menu Options (Hamburger) icon. Click the Save option.

Note: ‘Use Risk Title’ switch. Click this switch on if you want the Risk Title field to be used and shown and it is highly recommended this switch be set on.

Edit Risk Assessment Functions

  1. In the ‘Risk Assessment’ Panel of the Risks tab, enable a particular Risk Assessment function by ticking the corresponding box.

  2. The settings in the Risk Assessment Panel affect what is displayed on the Risk Assessment tab for Risk Records.

    • Inherent Consequences by Likelihood (Inherent Rating Score): Calculated score of the Inherent Consequences × Inherent Likelihood (see Risk Score Calculation).

    • Residual Consequences by Likelihood (Residual Rating Score): Calculated score of the Residual Consequences × Residual Likelihood (see Risk Score Calculation).

    • Residual Risk Score (Risk Score): Calculated score of Residual Consequences × Residual Likelihood × Adequacy × Management (see Risk Score Calculation).

    • Risk Controls: Show the Risk Assessment Management and Adequacy of Controls.

    • Risk Appetite: The maximum Risk Score that the organisation will tolerate for the Risk.

    • Default Risk Appetite: Select the default Risk Appetite to be assigned to all new Risks and later ‘tuned’ to match the risk.

    • Risk Scoring Decimal Places: Set the granularity of Risk Score values.

      Set this value to control the minimum allowable Risk Score value:

Setting (Decimal Places)

Minimum Risk Score value

2

.01

1

.1

0

1

Edit Text Boxes and Tabs

  1. In the ‘Risk Text Boxes’ section of the Risks & KRI's tab, type a new title in the corresponding text field.

  2. In the ‘Risk Tabs’ section of the Risks & KRI's tab, type a new title in the corresponding text field.

  3. To disable a Risk tab (i.e. the tabs that are displayed for each Risk Record), un-tick the ‘Display’ box under ‘Risk Tabs’.

Configurable Risk Tabs and Fields

Tab

Rename?

Display Optional?

Fields and Associated Tabs

Existing Controls

Yes

Yes

‘Existing Controls’ tab and ‘Other Considerations’ tab (both can be renamed).

Assessment

Yes

No

‘Assessment’ tab.

Treatments

Yes

Yes

List of further control tasks.

Occurrence

Yes

Yes

‘Contingency’ tab (can be renamed), ‘Operation in Event’ tab (can be renamed) and ‘Actions’ tab.

Linked Compliance

Yes

Yes

List of linked Compliance Processes.

Risk Hierarchy

Yes

Yes

Manage parent and child Risks for a Risk Record.


Did this answer your question?