Risk Register Module

Risk Register Module

Overview

The Risk Register is the central repository for documenting, assessing, and monitoring all organizational risks. It provides a structured approach to risk identification and assessment.

Key Features

• Centralized risk documentation
• Risk categorization and tagging
• Likelihood and impact assessment
• Inherent and residual risk scoring
• Risk cause and impact analysis
• Control association
• Treatment planning
• Review scheduling
• AI-powered risk generation

Creating a Risk

To create a new risk entry:

1. Navigate to Risk - Risk Register
2. Click Add Risk
3. Fill in risk details:
   • Risk ID - Unique identifier (auto or manual)
   • Name - Risk title
   • Category - Risk category
   • Description - Detailed risk description
   • Scenario - Risk scenario explanation
   • Owner - Person responsible for the risk
4. Click Submit

Risk Assessment

Assess each risk using:

• Likelihood - Probability of risk occurring (1-5 scale)
• Impact - Severity if risk occurs (1-5 scale)
• Inherent Risk - Risk level before controls (Likelihood x Impact)
• Residual Risk - Risk level after controls applied

Risk Analysis Tab

The Analysis tab allows you to:

• Set inherent risk levels
• Define risk exposure
• Calculate residual risk after controls
• View risk matrix positioning

Risk Causes and Impacts

Document risk causes:

1. Open the risk detail
2. Navigate to Analysis tab
3. Add causes that could trigger the risk
4. Add potential impacts if risk materializes

Linking Controls

Associate controls with risks:

1. Go to Control tab in risk detail
2. Click Add Control
3. Select existing internal control or create new
4. Define control effectiveness

Risk Review

Set up periodic reviews:

1. Configure review schedule (frequency)
2. Add review records
3. Document review findings
4. Update risk status as needed

AI Risk Generation

Use AI to generate risks:

1. Click Generate with AI
2. Provide context or select category
3. Review AI-suggested risks
4. Import relevant risks to register

Generating Risk Reports

Create individual risk reports:

1. Open the risk
2. Click Generate
3. Download PDF report with full details