The Risk View is an overview of the risks being tracked in CORE.
Purpose: the Risk View provides an overview of the risks being managed in CORE with the ability for the users to drill down into the details with just a few clicks. There are two main “lenses” through which risks can be viewed via this dashboard – Risk Landscape and Risk Exceptions.
This is the default view for this dashboard, where the risks are presented in a grid (4×4 in the example below), showing the Likelihood on one axis and Impact on another. This representation is considered a Risk Landscape because it shows where all the risks live in accordance with the firm’s Risk framework.
- Dashboard Menu: Risk View can be accessed through the Dashboard Menu on the left.
- Filters: options on the top right can be used to filter the data by Business Unit, Team or Entity, allowing users to create team-specific or entity-specific “grids”. These grids can be downloaded as an image by clicking on the blue image icon on the right of these filters.
- Switches: these options allow users to toggle between Risk Class vs. Sub-class or Inherent vs. Residual risk scores, redrawing the grid each time a switch is used.
- Grid: by default, the grid shows the residual risks by Risk Class. In the example above, there are two Operational risks and one financial risk in Cell B4. Users can click on the tags in the grid and additional information is revealed in the Info Panel.
- Info Panel: When users click on the tags in the grid, additional information appears in the info panel. In the example above, after clicking on the Operational tag that has two risks additional information shows:
- (A) – the Risk Sub-Class (data) and the relevant risks with a Risk score of B4; and
- (B) – the effectiveness of the controls (cog icon) and indicators (concentric circles icon) supporting the risk. In this case the color indicates that one or more control(s) supporting the risk is not effective and a supporting indicator is out of bound.
- Clicking on the Risk (“#RR10 – Inadequate data protection”) will take users to the relevant Risk Card for further investigation.
Users can switch to Risk Exceptions view by clicking on the piechart icon (See #6 in the image above) which replaces the grid with a radar.
The exception view is organised by risk class (outermost ring) and only shows risks with exceptions, i.e. where either a control has failed or one of the supporting indicators is outside the defined boundaries. Distances from the centre signify the severity of the failure, the closer a bubble is to the centre the severe the failure. These regions are marked by an amber zone and red zone in the dashboard.
In the example above, clicking on the “4” operational risks reveals additional data for the four operational risks in the Info Panel with iconography highlighting where the controls/indicators need further attention.
Also, note that clicking on a circle will bring the four areas of operational risk into focus, temporarily hiding all other risks (see below). Use the “Back” button to go back to the Risk Exceptions overview.