Version 24.3ab (Risk Management)

Last Modified on 12/20/2024 2:08 pm EST

GRC (All Apps)

  • The Help icon enable toggle switch on the Admin: Edit Roles screen is defaulted to off for all Limited User roles. This will help prevent unauthorized Limited User from contacting Resolver Support.
  • Action verbs were removed from buttons within all GRC applications (e.g., create, launch, etc.).

Improvements

  • The Decreasing Range section on the Indicator – RM – 2 – Overview form will appear when the indicator is in a Draft state.
  • We have added two new tabs to the Risk Management application:
    • Strategy: The Strategy tab allows users to document their organizations long-term visions and priorities.
    • Objective: The Objective tab allows users to set business unit goals.
  • The following tab guidance descriptions were added to the Risk – RM – 5 – Assess Risk form:
    • Inherent Risk tab
    • Residual Risk tab
    • Risk Appetite tab
    • Controls tab
    • Issues tab
    • KRI tab
    • Loss Event tab
  • Tab guidance descriptions have been added to the following forms to help guide users:
    • Risk – RM – 1a – Create 
    • Risk – RM – 1 – Create
    • Risk – RM – 2 – Risk Triage
    • Risk – RM – 3 – Library
    • Risk – RM – 4 – Assign Risk Owners
    • Risk – RM – 5 – Assess Risk
  • We created a new Strategy object type.
  • We applied the following changes to the Objective – RM – Assessment, Objective – RM – Library, and Objective – RM – Risk Identification forms:
    • Remove the Objective Owner and Objective level fields.
    • Moved Status field under the Description field.
  • We applied the following changes to the Objective – RM – Library form:
    • Added the Strategy tab
    • Added guidance description
  • We applied the following changes to the Objective – RM – Assessment and Objective – RM – Risk Identification forms:
    • Split the form into 3 cards to standardize the layout
    • Added the Strategy tab
    • Added guidance description
  • The Strategy reference within the Objective workflow was made a mandatory field in the Draft and Active workflow states.
  • The following fields were linked to the Strategy object type:
    • Current Value
    • Start Date
    • Status
    • Target Completion Date
    • Target Value
  • We created a new relationship link from Strategy to:
    • Objective
    • Indicator
    • Company (reference)
  • A new form was created called Strategy – RM – Library.
  • The following fields and formulas were added to the Risk object type:
    • Fields:
      • Target Likelihood
      • Target Impact
    • Formulas:
      • Target Risk Score
      • Risk Appetite
  • The Risk Response Plan existing select list options were expanded to include descriptions:
    • Tolerate – I will accept the level of residual risk, no further action
    • Treat – I will reduce the level of residual risk by taking action
    • Transfer – I will reduce the level of residual risk by taking action via a third party
    • Terminate – I will reduce the level of residual risk by taking action that modifies the associated objective
    • Not Applicable – I will take no action as the controls in place are adequately managing the risk
  • The following changes were applied to the Risk – RM – 5 – Assess Risk form
    • Added a new tab
    • Relabelled and moved form elements to corresponding tabs:
      • Inherent Risk
      • Controls (renamed)
      • Residual Risk
      • Risk Appetite (new)
      • Risk Response (renamed)
      • Historical Trending – added target risk and risk appetite
  • Add the following to the new Risk Appetite tab
    • Fields:
      • Target Likelihood
      • Target Impact
    • Formulas:
      • Target Risk Score
      • Risk Appetite
  • Added the Target Risk Score and Risk Appetite formulas to the Risk table on the following reports:
    • RM – Risk Committee Report (Objective)
    • RM – Risk Committee Report (Process)
    • RM – Risk Committee Report
    • RM – Business Unit Risk Committee Report (Objective)
    • RM – Business Unit Risk Committee Report (Process)
    • RM – Business Unit Risk Committee Report
  • We have renamed three Heatmap reports:
    • From RM – Objective Risk Assessment Heat Map to RM – Objective Risk Register Prioritization Heat Map
    • From RM – Process Risk Assessment Heat Map to RM – Process Risk Register Prioritization Heat Map
    • From RM – Risk Assessment Heat Map to RM – Category Risk Register Prioritization Heat Map
  • We renamed all three types of Risk Assessments to Objective Risk Register, Process Risk Register, and Category Risk Register.
  • We renamed Risk Register object type to Risk Universe.
  • We changed reference names on the relationship from Objective, Process, and Risk Category to Risk Universe.
  • We created two new data grid reports called RM – Library Risk Matrix and RM – Library Control Matrix. These reports have not been assigned to the application.
  • The following changes have been applied to the Risk – RM – 5 – Assess Risk form:
    • Hid the Contributing Factors and Incident Type tabs
    • Renamed the Issue & Actions tab to Issues
    • Renamed the Key Risk Indicators tab to KRI
    • Format is now a one column layout
    • Added a new tab called Risk Appetite
    • Reordered the Likelihood and Impact fields on the Inherent and Residual Risk tabs
  • The Control – GRC – 2 – Control Self-Assessment form is now a one column layout.
  • The following forms were renamed:
    • From Objective Risk Assessment – 2a – Manage Assessment to Objective Risk Register – 2a – Manage
    • From Process Risk Assessment – 2a – Manage Assessment to Process Risk Register – 2a – Manage
    • From Risk Assessment – 2a – Manage Assessment to Category Risk Register – 2a – Manage
  • The x and y axes on the following Risk Management Heat Maps were flipped. The x-axis is now Likelihood and the y-axis is Impact:
    • RM – Objective Risk Assessment Heat Map
    • RM – Process Risk Assessment Heat Map
    • RM – Risk Assessment Heat Map
    • RM – Business Unit Risk Heat Map (Objective and Process)
    • RM – Company Risk Heat Map (Object and Process)
    • Risk Management: Risk Profile
  • The following fields have been made mandatory on the Risk Workflow – Risk Assessment and Escalated states:
    • Inherent Likelihood
    • Inherent Impact
    • Control Effectiveness
    • Residual Likelihood
    • Residual Impact
    • Target Likelihood
    • Target Impact
    • Risk Response Plan
  • The following changes were applied to the Control – GRC – 2 – Control Self-Assessment form:
    • Updated the Control Effectiveness tabs on the third and forth cards
    • Increased the title width to 100%
    • Centered aligned the select list and adjusted the width to 50%
  • The following changes were applied to the Risk – RM – 1a – Create and Risk – RM – 2 – Risk Triage forms:
    • Updated the Risk Category text
    • Objective (reference) is a mandatory field on the Create & Triage workflow state
    • Bypass required fields was enabled on Submit Risk and both IT Risk triggers
  • We Added the Risk Owner and Risk Delegates tabs to the top of the Risk – RM – 4 – Assign Risk Owners form.
  • The following changes were applied to the Objective – Risk Assessment – 1 – Overview, Process Risk Assessment – 1 – Overview, Risk Assessment – 1 – Overview forms:
    • Added data visualization: Risk Prioritization Heat Map
  • The following changes were applied to the Risk – RM – 5 – Assess Risk form:
    • Updated the Risk Details text
    • Text was added above the button section on the form
  • The following changes were applied to the Risk Management Portal:
    • On the Risk Management activity, Risk Assessment was changed to Risk Register
    • On the Risk activity, My Risk View, the Assign Risk Owner state was removed
    • On the Risk activity, My Risk in Triage was renamed to My Submitted Risks
  • We have added new activities (tabs) and renamed others within the Risk Management application:
    • Strategy tab (new)
    • The Identify Risk tab changed to Identify (renamed)
    • The Launch Risk Assessment tab changed to Risk Registers (renamed) 
    • The Asset & Treat tab changed to Analyze (renamed)
    • Manage tab (new)
    • The Review & Monitor tab changed to Monitor (renamed)
    • The Manage Assessment tab changed to All Risk Registers (renamed)
  • We removed the Risk Team and Risk Team (standard ERM) roles from the following legacy activities:
    • Controls
    • Issues & Actions
    • Corrective Actions
    • Indicators
    • Loss Events
  • The following changes were made to the Strategy activity (tab):
    • Description:
      • Added guidance description
    • Actions:
      • Strategy
      • Objective
    • Views:
      • Strategies
      • Objectives
    • Roles:
      • Risk Team
  • The following changes were made to the Identify activity (tab):
    • Description:
      • Added guidance description
    • Actions: 
      • Risk – remove Create
    • Views: 
      • Risk & Control Universe:
        • Renamed from Risk & Controls Matrix
        • Changed sorting options to Property & Created On
        • Added guidance description
      • Risks to Review
        • Renamed from Risks in Triage
        • Changed sorting options to Property & Created On
        • Added guidance description
      • Delete
        • Risk Categories
        • Processes
        • Objectives
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
  • The following changes were made to the Risk Registers activity (tab):
    • Description:
      • Added guidance description
    • Actions (renamed and reordered):
      • Objective Risk Register
      • Process Risk Register
      • Category Risk Register
    • Views:
      • Objective Risk Assessment Planning:
        • Renamed to Add Risk to Register 
        • Changed sorting options to Property & Created On
      • Objective Risk Assessment Planning
        • Renamed to Add Risk to Register 
        • Changed sorting options to Property & Created On
      • Risk Assessment Planning 
        • Renamed to Add Risk to Register 
        • Changed sorting options to Property & Created On
      • Risks Requiring Assessment
        • Renamed to Assign Risk Owners
        • Changed sorting options to Property & Created On 
      • Added a new view called Assign Control Owners
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
  • The following changes were made to the Analyze activity (tab):
    • Description:
      • Added New guidance description
    • Views:
      • Objective Risk Assessments:
        • Renamed to Analyze Risk Registers 
        • Changed sorting options to Property & Created On
      • Process Risk Assessment:
        • Renamed to Progress to Analyze Risk Registers 
        • Changed sorting options to Property & Created On
      • Process Risk Assessment:
        • Renamed to Progress to Analyze Risk Register 
        • Changed sorting options to Property & Created On
      • Added a new view called Analyze Risk Registers (Grid)
      • Added a new view called Analyze Risk Registers (Grid)
      • Added a new view called Analyze Risk Registers (Grid)
      • Added a new view called All Risks
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
  • The following changes were made to the Manage activity (tab):
    • Description:
      • Added new guidance description.
    • Views:
      • Prioritize Risk Registers 
      • Prioritize Risk Registers 
      • Prioritize Risk Registers 
      • Review Risks
      • Review Controls
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
  • The following changes were made to the Monitor activity:
    • Description:
      • Added new guidance description
    • Views:
      • Key Risk Indicators
      • Loss Events
      • Issue & Action Status 
      • Issue & Action Status 
      • Issue & Action Status 
      • Monitor Risk Registers 
      • Monitor Risk Registers 
      • Monitor Risk Registers 
    • Delete:
      • Risk in Review
      • Monitor Risks
      • Escalated Risks
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
  • The following changes were made to the All-Risk Registers activity:
    • Description:
      • Added new guidance description
    • Actions:
      • Objective Risk Register
      • Process Risk Register
      • Category Risk Register
    • Views:
      • Active Objective Risk Register
      • Active Process Risk Register
      • Active Category Risk Register
      • Archived Objective Risk Register
      • Archived Process Risk Register
      • Archived Category Risk Register
    • Roles:
      • Risk Team
      • Risk Team (Standard ERM)
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