Book a demo with one of our product specialists today to find out more about RCSA in Protecht ERM:
Product tour contents
Introduction to RCSA and Protecht ERM:
- Overview of the RCSA process and its importance in risk management.
- How Protecht ERM streamlines RCSA activities.
Overview of the RCSA process:
- Explanation of the RCSA process for identifying operational exposures and evaluating controls.
- Importance of conducting RCSA by first line of defence risk owners.
- Role of RCSA in identifying emerging risks and ensuring regulatory compliance.
Critical success factors in RCSA:
- Maintaining a well-established risk and control library.
- Utilizing risk scales and metrics for quantifying and qualifying risks.
- Ensuring consistent linking of incidents, findings, issues, and actions.
Dashboard overview:
- Comprehensive view of the risk program through the Risk Scorecard Dashboard.
- Aggregating data to connect risks, controls, KRIs, actions, and incidents.
- Benefits for first, second, and third lines of defence in risk management.
Risk assessment process:
- Simplified risk assessment process aligned with ISO 31000 standards.
- Consistent taxonomies through centrally managed libraries.
Rating risks and controls:
- Inherent risk rating using a five-by-five scale before control implementation.
- Continuous assessment of controls and residual risk ratings.
Assigning actions and control testing:
- Setting up action plans to improve control effectiveness.
- Performing detailed control tests and documenting outcomes.
- Scheduling future reviews of risks and controls with automated notifications.
Summary and additional resources:
- Overview of how Protecht ERM enhances the RCSA process.
- Call-to-action to explore more resources on the Protecht website.
