Enterprise Risk Management (ERM) is an effective but complex process that identifies, monitors and reports risks across a wide range of an organization’s operations. Some of the best GRC software and risk management solutions provide Risk Registers which are key to organizing an effective ERM policy.

A Risk Register:

  • Is a comprehensive list of identified risks
  • Estimates the probability of identified risks occurring
  • Defines actions taken to reduce those risks
  • Establishes who is responsible for risk management

A Risk Register is a document, although within GRC software we can treat it as a repository of information.  

It is important for the Risk Register to:

  • Be easily accessible
  • Allow many people across the organization to collaborate
  • Adhere to risk management best practices including the lifecycle of the Risk Register itself

Everything starts with the Risk Register  

The first step is to build a solid foundation for an effective risk management process which is done by collecting all ERM-relevant information. Next, establish clear metrics to evaluate and measure each risk across various business units.

What does a Risk Register need as a minimum?

Every risk included in the Risk Register should be briefly defined along with a description of the impact on the organization if it were to occur (for example: costs, image losses), the probability of risks occurring, the risk “owners” and finally, appropriate countermeasures to take.

In case of emergency

The risk register is also a tool for employees to manage responsibility for individual risks. As mentioned above, you can assign risks to “owners”, document how owners respond to their risks, and how effective their actions were.

A Risk Register can enable situation analysis and to generate formal reports. This means that risk managers can measure how effective ERM policies are and implement changes wherever a policy has failed.

Finally, because Risk Registers collect valuable information in an organized and structured manner, managers and leaders can clearly see the full set of risks facing the organization and understand how to manage these risks to achieve organizational goals.

Summary

A Risk Register is critical for effective risk management. Any organization serious about effective ERM should understand the compelling reasons to create a Risk Register, which can be further leveraged by selecting the best GRC software platform for their requirements.

Solutions

The AdaptiveGRC platform offers a variety of modules to help manage GRC activities for your company in agreement with the latest regulations (DORA, NIS2).

In order to meet your company's specific needs, our team of experienced developers can tailor the required functionalities to deliver exactly what your company needs. If your company requires a customized module to effectively meet its needs, we can help.

Let us fit the best solution for your company. Fill out the form below.
GET CONSULTATION

Streamline Your GRC Activities with AdaptiveGRC
Get Results Faster.

  • Fill out the form.
  • Our consultant will work with you to determine what your company needs.
  • We will schedule a product demo to show you the required features.
  • We will gain your feedback and tailor a tool to your needs.
Fill in the form

    The Controller of your personal data is C&F S.A. with its headquarters in Warsaw, Poland. Your data will be processed in accordance with C&F S.A. Privacy Policy

    OUR TESTIMONIALS

    Read Gartner reviews to find out what users think about our solutions

    One of the best GRC software with very good price

    Adaptive GRC offers a great deal of flexibility in supporting GRC&AUDIT processes. The product is continuously developed and the customer receives new possibilities and functionalities. In addition, the price is very attractive in comparison to competitive products. The support team takes a flexible approach to the customer's needs.

    Sebastian B. CEO | Computer & Network Security Employees: 2–10

    Comprehensive platform for managing risk and compliance

    I used AdaptiveGRC Compliance and Risk Management modules for more than a year. Implementation went smooth, and the support team was always very helpful. I especially value the functionality AdaptiveGRC offers - all GRC processes can be managed in one tool, and there is a single database. The tool helped my organization lower operating costs and gain a better understanding of risks in the organization.

    Marcin K. Chief Information Security Officer | Financial Services Employees: 51–200

    Perfect program for compliance control

    It is amazing that thanks to AdaptiveGRC individual assessment management can be shortened from days to minutes. The tool can generate reports for different stakeholders containing only their desired assessment outcome data. I appreciate much the possibility of generating compliance specification lists for supplier contracts or internal departments.

    Jasween K. Compliance Pharmaceuticals Employees: 10 000+

    AdaptiveGRC supports insurance companies in their risk and compliance management processes

    I used AdaptiveGRC to 1. support insurance companies' compliance management processes following a complex industry-specific regulation. 2. I also used AdaptiveGRC to support the process of managing and monitoring data processors as GDPR came into effect. I experienced a significant increase in efficiency in both cases.

    Verified Reviewer Insurance | Self-employed

    What's in a name...

    As the name is representative, AdaptiveGRC is a complete, interconnected GRC solution that can be adapted to organizations across industries and size. The AGRC team did a superb job designing and building a best-in-class GRC solution that addresses the challenges faced in today's uncertain and ever-changing global business climate. Working with the AGRC team has been a pleasure and the support they have provided is exceptional.

    D Scott C. Business Development | Biotechnology Employees: 2–10

    Financial institutions could benefit greatly from AdaptiveGRC

    I am happy to be able to use AdaptiveGRC in my work. This dedicated solution is very helpful for anyone that has to fill out the SREP questionnaire. The extra time I gained was priceless. The platform's design was also very appealing to me. The fact that it was so simple to use was a major plus for me. Due to its comparison capabilities with past years' forms, I was able to cut down on the amount of time it took to complete the new questionnaire. What is more, I was able to monitor the progress of the people assigned to the process.

    Anna C. Head of Fin Crimes Team | Banking Employees: 10 000+

    Great support for inurance company

    My overall experience has been great. I also liked the layout of the platform. The time and control I gained is invaluable. I like the fact that it was very easy to use. It definitely allowed me to shorten the time I had to spend on filling out the SREP questionnaire. I also could easily control the status of work of my team members, check their progress, and monitor on daily basis.

    Verified Reviewer Insurance Employees: 201-500

    AdaptiveGRC - Big Player in GRC

    Easy to install and easy to configure. Out of the box solution. Cloud based or Server. AdaptiveGRC is an enterprise governance, risk management and compliance (eGRC) solution set with unique and unequalled capabilities. AdaptiveGRC can be deployed as one fully interconnected solution suite, or you can choose one or more modules.

    Leigh M. National Accounts | Consumer Goods