Loss event owners are responsible for reviewing loss events by determining their risk impact, recording any associated losses and recoveries, analyzing the root cause, and assigning an appropriate corrective action. Once a loss event owner has reviewed an event, it's sent to the Risk Team for further review.
To review a loss event:
Log into an account that's been added to the Loss Event Owners user group to display the My Tasks page.
Click a loss event to display the Loss Event Overview form.
Optional: Edit the information in the first section as needed. See the Create a Loss Event article for more information on the fields found in this section.
Optional: Click View Loss Event Detail Report to view a downloadable report summarizing the details of the loss event.
In the Determine Risk Impact section, click Add Existing Risk and begin typing in keywords. Click + Add on the desired risk to attach it to the event.
In the Losses and Recoveries section, select one or both of the following options:
Click Add Existing Losses & Recoveries, type the name of the loss or recovery you wish to add, then click + Add to attach it to the loss event.
Click + Create New to open the Create a New Loss or Recovery dialogue:
Enter the name of the loss or recovery in the Loss or Recovery Name field.
Enter a description of the loss or recovery in the Description field.
Select the type of loss or recovery from the Loss or Recovery Type field.
Enter how much the loss or recovery was worth in the Value field.
Enter how many times the loss or recovery occurred in the Quantity field.
Choose the currency of the loss or recovery from the Currency field.
Select the business unit the loss or recovery is attributable to from the Internal Business Unit select list.
Enter the account that the loss or recovery is attributable to in the General Ledger Account field.
Click Create to create the loss or recovery and attach it to the loss event.
In the Root Cause Analysis section:
Enter an explanation for the loss event in the What Happened?, How did it Happen?, and Why did it Happen? fields.
In the Contributing Factors table, an existing contributing factor can be added by clicking Add Existing Contributing Factors, typing its name in the search bar, and clicking Add. To create a new issue from scratch, click + Create New and fill in the required fields.
In the Corrective Actions section, an existing corrective action can be added by clicking Add Existing Corrective Actions, typing its name in the search bar, and clicking Add. To create a new issue from scratch, click + Create New and fill in the required fields. See the Review a Corrective Action article for more information on the fields found in this form.
Click Send for Review to submit the loss event to the risk team for review.