Welcome

Welcome to the Risk Insights and the only risk tool specifically designed for top down and strategic risk assessments.

Risk Insights Explorer provides you with a clear view of your risk landscape, an interactive map of the connections between risks, the potential timing of risks, and how outside trends could impact your risk profile.

Put simply, Risk Insights Explorer asks the right questions and presents back in an engaging and insightful way. All the insight comes from your team, using your risk taxonomy. So now instead of seeing your risks in isolation, you get to see the big picture.

It’s simply a more joined up view of your risk world.

Risk Visualisation

Risk oversight has become an imperative for companies of all sizes and in all industries.  Boards have had to reformulate their approach to risk oversight and organise themselves accordingly. To make informed decisions quickly, leaders need to be able to access, evaluate and transform data into information. The ability to decipher and act swiftly has become a competitive differentiator.

Visualisation in risk management, however, is still not a frequent topic in organisations, possibly because risk is both difficult to visualise and challenging to describe. Instead of simple to understand visuals the Board and Senior Managers are presented with endless tables, colourful charts and simplistic ‘SmartArt’ graphics; it is quite common for a monthly risk report to exceed a hundred pages.

Risk Insights Explorer has been specifically designed to support top-down risk identification and assessment, and to present your risk insights in a visual way that is engaging, interactive and prompts action.

Risk insights Explorer

Risk Insights Explorer supports management in undertaking risk identification and assessment in a disciplined and systematic way, an approach we believe is the first step in establishing vital risk communication within an organisation.

Using Risk Insights Explorer management undertake event identification to develop a list of specific events that, if they occur, could affect your organisations ability to achieve its objectives. For each event, management performs a risk assessment by evaluating the likelihood that the event will occur and estimating the probable impact of the event if it does occur.

Risk Insights Explorer provides a holistic lens for viewing the interdependent nature of business risks. Because events do not occur in isolation, management should understand how events interrelate. By assessing interrelationships, your leadership team can determine where risk management efforts are best directed.

 

 

Risk Taxonomy

The risk taxonomy primarily supports two key risk framework tasks: to establish a degree of completeness in the coverage of risks, and second, to identify potential linkages between risks factors. The second objective exemplifies Risk Insights ”holistic” approach to risk management.

For an event-driven risk taxonomy to be useful, it needs to be manageable in terms of the number of categories and wide ranging to cover as many causes of events as possible. This means that the taxonomy consists of limited numbers of classes of events that are necessarily broad and imprecise. Event-driven risk taxonomies is the classification used by the Basel Committee. Risk Insights can help your Enterprise-Wide Risk team develop it’s risk taxonomy while the Risk Explorer will help senior management identify important interconnections between risks.

About Risk Connectivity

“The real voyage of discovery consists not in seeking new landscapes but in having new eyes.”   Marcel Proust

At Risk Insights we believe knowing as much as possible about uncertainty – how risks are perceived, how they interconnect, what the landscape looks like – is crucial when managing risk. The Risk Insights Explorer draws on the unique expertise available within your risk and leadership team, and can be readily expanded across a broader management team and to subject matter experts within your organisation as a whole.

The insights will prompt numerous discussions. Risk Insights won’t manage your risks for you but it will further understanding about your risks and allow you to make decisions with greater clarity.