Risk Register. 

 

The Corethix team is pleased to reveal the launch of our new Risk Register module. This tool allows for the centralised storage of all risk-related information, ensuring it is easily accessible. Designed with a user-friendly interface, it simplifies the process for administrators to create a risk matrix, manage identified risks, and monitor mitigation actions effectively.

Effective risk management involves regularly assessing and documenting your business risks, evaluating existing controls for their effectiveness, and proactively addressing identified issues to manage risks within your risk appetite. 

The Corethix Risk Register module accomplishes this by offering a comprehensive risk register dashboard with analytics. It provides real-time updates on identified risks and showcases all the essential data related to managing those risks. This facilitates proactive management, timely reporting, and maintaining an audit trail of historical information.

 

Key features of the Risk Register module

• Document every identified risk in a customisable online risk matrix.

• Evaluate both the likelihood and the potential impact of each identified risk.

• Record risk register categories and their treatment options.

• Implement controls to automatically manage residual risk.

• Track the status of action plans and get alerts when problems arise.

• The detailed Dashboard offers a real-time overview of your risk register matrix along with the status of controls and action plans.

 

Risk Register Module Overview

1. Risk matrix and Risk levels

The Corethix risk register matrix is highly configurable, allowing for various matrix sizes and customisable risk levels defined by range and colour codes.

 

2. Risk register categories

The Corethix risk register module is flexible, allowing configuration for multiple risk categories, treatment options, and alert notifications per category.

 

3. Risk registers and associated action plans

The Corethix risk register module offers a straightforward method to monitor and document risk registers, including tracking associated controls and actions to mitigate risks.

 

4. Inherent and Residual risk settings

The Corethix risk register module features a simple configuration process to establish inherent  and residual settings for each risk register and these settings can be visualised on the risk register dashboard.

 

5. Monitor risk Action Plans

Corethix offers a comprehensive risk register dashboard that shows real-time updates on risk register actions, enabling proactive management and follow-up.

 

6. Send notifications to follow-up risk register action plans

Corethix keeps constant track of the status and completion of all risk register actions, notifying administrators with alerts if any action is overdue.

 

The Corethix Risk Register module is tailored to assist organisations of any size in creating a risk register, assigning response plans, and tracking actions to reduce risks.

The new module is available, and more information can be found here:

https://www.corethix.com/risk-register/ 

Please contact us for further information including the option to do a free trial:

[email protected] 

https://www.corethix.com/contact/ 

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About Corethix:

Corethix was created by a team of corporate executives and integrity risk experts who have experienced firsthand the complexities of managing risk and compliance programs across several industries and sectors. 

The increasing need for organisations to protect themselves against integrity risk and the resulting damage to their people, reputation, and bottom line was the motivation for creating the Corethix software platform. 

Every member of our experienced team is focused on helping your organisation create a culture of integrity using Corethix.[/vc_column_text][/vc_column][/vc_row]