Make Lasting Improvements and Strengthen Your Business Through Effective Risk Treatment and Corrective Actions
A central, continuous, trackable and reportable log of all risk treatments and corrective actions. Effective workflow, automation and escalation is essential to track remediation, transfer or mitigation of risks in a visible and auditable manner.
Resilience provides a central digital platform to ensure a consistent, visible and trackable visualisation of risk treatments. Have a birds-eye view of the corrective action plans being implemented in consultation and with review from relevant stakeholders and accountable parties.
For each risk identified during assessments, ensure the following:
Specify agreed treatment and corrective action plans - Workflow, automation and escalation.
Specify the treatment option agreed - Avoid, reduce, share/transfer or accept.
Specify a target resolution date - Ensure business KPI’s are met.
Document the treatment and corrective action plans -Outline the approach, relationships and interdependencies.
Assign an appropriate responsible owner – Assign an owner to implement the agreed treatment and corrective action plan.
Assign accountable parties – Assign ownership to review that the agreed treatment plan is implemented.
Assign informed parties - Monitor and report on progress of the treatment plan implementation.
Specify the agreed treatment or corrective action - Accept, mitigate, avoid, transfer and/or closed.
Defined expectations of the detail of treatment plans required for each risk level, enables you to track and report on remediation in real time for effective risk management. It’s a central digital registry that automatically assigns tasks to responsible parties, providing a trackable and auditable process with assurance.
The scale and probability of cyber and operational risks is growing daily. Ensuring a controlled, repeatable process for managing these threats is paramount.
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