Risks

📋 Table of contents

Manage risks
Creating your first risk
View/ edit page
Risk categories
Creating risk categories
Dashboards

Introducing the risk register

The team at Inverifi understand just how important it is that as a business you must have all your potential risks both documented and in a space easily accessible, when it comes to passing your audits. It makes the lives of everyone so much simpler if you can have all your documentation in one centralised place.

1.1) Manage risks

The ‘manage risks’ screen is where you are able to view all the risks in your organisations. You have the ability to quickly filter this list to find exactly what you are looking for, while having access to all the important information you’ll need. functioning very similarly to the documents page, the manage risks page can be filtered by organisation, author, responsible and risk category.

1.2) Creating your first risk

Creating your first risk in Inverifi is fast and simple, to start managing your risks start with the following:

Navigate to the manage risks page
click the purple plus button (FAB) in the bottom right of the page,
This will open the create dialog box.
Fill out the risk title
Select the organisation it will belong to,
Once you are happy click the create button

You will see your risk added to the manage risks table, to view your risk just click on your newly created risk. This will take you to the view/ edit page.

1.3) View/ edit page

The view and edit page is where you will be creating the meat and bones of your risk, you’ll be able to write and display content, view and update the risks supporting information – examples of this can be found below:

The impact score is displayed in an easy to read table, you simply just have to set the “Likelihood” and “Severity” and we will calculate the impact for you. The calculated score will be able to tell you if your risk has a high, medium or low impact on your business. Having sight of your high impact risks is crucial for being able to pass your audits as well as preventing any incidents.

Risks also have the following fields that users can update:

Responsible – This field can be assigned with a User, team or organisation(s)

Categories – Set a category for your risk. Pick one from our default list or create your own

Who is affected – Note down who or what is affected by this risk

Risk treatment – Detail the strategies or options you have for responding to this risk

Mitigation – Link and display relevant and supporting documentation for this risk

All of which can be found inside of the info tab. Users with the editor and manager roles will only be able to update this information. If you are unsure what your role is, please click the members icon you will see your user and role under your name.

1.4) Risk categories

All organisations will receive a set of our default categories. However we don’t want you to be limited by these categories, users will still have the ability to modify this set – or create their own. These categories can be assigned to risks, which will make grouping the risks together possible. Both improving the managing experience and the speed of finding risks.

After talking to many industry experts as well as having many years of personal experience, we believe the list of default categories we provide out of the box will cover most use cases.

You can find the full list of our categories below:

Strategy risks
Growth risks
Governance risks
Commercial risks
Financial risks
Operations risks
People risks
Product/ service offer risks
Project/ Programme risks
Legal risks
Property risks
Technology risks
Reputational risks
Security risks
Information risks

These categories can be applied to any risk, simply click the info tab while viewing a risk and select the desired category from the drop down.

1.5) Creating risk categories

If the default selection of risk categories do not suite your needs, your can create your own risk categories to use.

To start creating you must first:

Navigate to the risk category tab,
you will then see a purple create button in the bottom right of the page
Click this button which will highlight where you will create your first category,
simply fill out the category title or optionally add a description
click create.

This will then create your risk category and it to the list of existing ones, you will now be able to assign this to any risk you have access to. Please note risk categories are organisation specific. This means they belong to that organisation so if you want to use that category and assign it to content that belongs to a different organisation, this will not be possible.

1.6) Dashboards

The dashboard page provides a visual representation of the data in all of your organisations. Which are great for getting an insight into your organisation’s risks and data. With our combination of Pie charts and Bar charts, users will be able to very quickly know how many risks they have – As well as see a breakdown of the likelihood, severity and impact scores.