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Actions Basic Information

The basic information for an Action offers an approach for the business to articulate key attributes for an Action with minimal effort. Where possible, drop-down lists are users to ensure consistency in how actions are defined across the business.

The basic information for Actions include:

  • Why Act? A drop-down list, allowing users to select the reason for performing the action. This list could include things like; Control Failure, Limit Breached etc.
  • Deliverable: A drop-down list, allowing users to select the expected deliverable. This list is contextual and will change based on the selection for Why Act. For instance, if the action is driven by a Control Failure, this list may include things like New Control, Enhanced Control, however, for Limit Breach, this list may include things like Reduce exposure, Reinsurance etc.
  • Title: Free form text, allowing users to give the action a snappy title. This field is restricted to 120 Character.
  • Description: Long-form text, allowing users to set out more details for the action. We always recommend capturing the Objective of the action (what you are trying to achieve) and the Driver for the action (what is the reason for taking this action.
  • Owner: The user that is ultimately responsible for delivering this action.
  • Reviewer: The user that provides quality assurance before the Owner sings off on the action.
  • Manager: The user performing the completion of the action, this usually tends to be a direct report of the Owner.
  • Team: Assign this action to one or more teams within your operations, as appropriate, though we recommend that only one team is assigned for each action.
  • Review Frequency: Set the frequency with which you would like updates on the progress of this action (i.e. is it on track or not). The Review Frequency determines how often the users are required to provide assessment updates (Red, Amber, Green) on the action.
  • Entities: Assign this action to one or more Entities within your operations, as appropriate. For some firms, this may be an optional field.
  • Business Unit: Assign this action to a Business Unit within your operations, as appropriate. For some firms, this may be an optional field.
  • Old Ref (Optional): Free form text for users to capture any old references or linked to other workflows outside of CORE.
  • Sign-off: A drop-down list, allowing users to select the level of expected governance this controls requires. This could include items like Board Approval, Team Manager, Internal Audit, Compliance etc.
  • Start Date: When the action is due to start or started?
  • Deadline: The action deadline.

NOTE: items in a drop down lists vary from client to client, so the examples for the drop-down lists mentioned above are for illustration purposes and may be different from what you see in your application.

Updating Basic Information

There are two ways to update the basic information for an action – through the Actions Register (Figure 1) or Actions Cards page (Figure 2).

RESTRICTED ACTIVITY: Only users with appropriate access rights can update basic information for Actions.

Figure 1: Four steps to editing the basic information for Action using the Actions Register.
Figure 2: Three steps to editing the basic information for Action using the Action Card Page.

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