Identifying your business and IT risks is the first step in any risk management effort. A crucial next step is to address the risk level, in order to find out which risks deserve attention, and which risks are less relevant. BWise Risk Assessments, an integrated component of the BWise Governance, Risk and Compliance (GRC) platform, allows you to:
- Identify new risks, and identify mitigating measures
- Assess your risks, using configurable impact and likelihood scales (severity and frequency).
- Use different dimensions of risks, like Financial, Reputational, Legal, Safety, Health or Environmental
- Assess inherent (gross) risk, residual (net) and target risk
- Assess different risk scenarios when conducting risk scenario analyses including best case, expected case and worst case scenarios
- Use qualitative input as well as quantitative input
- Make use of advanced calculation capabilities including scenario analyses, calculating residual risk based on control performance, and more
- Drive risk assessment workflows to ensure correct data gathering and management sign-off
- Run configurable reports with drill-down heat maps, risk trends, top-N risks with both risk overviews as well as all relevant details.
BWise has designed a unique user experience, allowing users to conduct risk assessments in a distributed questionnaire format, as well as a drag-and-drop environment for use in workshops. Users see all related control testing results, management issues and audit findings, as well as any related incidents and losses. With this information, they are able to make informed decisions, or even use the calculation engine to calculate risk results based on this information.
Start assessing immediately
BWise Risks Assessment is an integrated component of the BWise GRC solution. It provides the ability to run risk identification and assessments on all the risk & control structures you have built in BWise. BWise provides a proven method to simply add the Risk Assessment solution to your existing BWise environment and immediately start assessing your risks, without additional configuration and installation.
With BWise Risk Assessments, an enterprise can reduce both its operating costs and risks. BWise provides clear view on enterprise risks as well as lower level risks. This allows an enterprise to take timely action, preventing financial losses, legal action or reputational damage.
BWise for Risk Management
BWise Risk Management
Download the brochure about the BWise Risk Management Solution: " A Day in the Life of Gerard Parker, Chief Risk Officer".
GRC Journey Web TV
Incorporate Risk Management into your Organization
Read the whitepaper from one of our GRC experts about the Four Steps to Incorporate Risk Management into your Organization.
Vendor Risk Management
Learn more about the Vendor Risk Management solution BWise offers.