Risk Register Studio
A working risk register: each risk rated before and after its controls, drawn on a five-by-five map against your appetite, with a simulation of annual loss for the risks you can put figures to.
Before You Start
- Add each risk at its inherent rating, as it would be with no controls at all.
- Say how effective the controls are. The tool works out the residual position.
- Set your appetite, then read the register and the map against it.
- Produces
- A ranked register, the map, a simulated annual loss and a CSV file.
New risk
Rate the inherent position, as it would be with no controls at all. The control effectiveness takes it to residual, so rating residual here would count the controls twice.
The Register
Ranked by residual rating. The letter beside a risk is its mark on the map.
The register is empty
Add your first risk, or load the worked example, six risks for a pension scheme, to see how the map, the appetite line and the simulation behave.
| Risk | Owner | Inherent | Control | Residual | Treatment | Actions |
|---|
The Map
Likelihood against impact, each from one to five. The line marks your appetite: every cell beyond it rates above it.
Inherent and residual positions
Likelihood, 1 to 5: Rare, Unlikely, Possible, Likely, Almost certain. Impact, 1 to 5: Insignificant, Minor, Moderate, Major, Severe.
What the map shows
Choose a mark to open that risk. A risk that sits on the same cell before and after its controls has controls that are not doing anything measurable.
Simulated Annual Loss
10,000 simulated years. The size of each loss is drawn from a triangular distribution and the number of events from a Poisson process.
Each run draws new years, so the figures move a little from one run to the next.
Loss in a year, across the quantified risks
Save This Register
Saving gives the register its own link to come back to. You can also ask a consultant to review it and challenge the control effectiveness ratings before it goes to your audit committee.
- Saving sends this run and the details you give here to Pinebridge. Until then it stays in this browser.
- A saved run has its own link and a report set out for A4.
Take Your Register Further With Pinebridge
A tool works from what you enter. An engagement works from evidence. Talk to us about having your register reviewed and your control ratings challenged.