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Title: DIGITAL RISK MANAGEMENT
Description: A digital risk management solution can include the use of process automation, decision automation, digitized monitoring, and early warning systems, and it can provide in-depth analytics to help your organization better monitor your compliance status and current threat level for all risk factors.
Description: A digital risk management solution can include the use of process automation, decision automation, digitized monitoring, and early warning systems, and it can provide in-depth analytics to help your organization better monitor your compliance status and current threat level for all risk factors.
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DIGITAL RISK MANAGEMENT
Digital risk management refers to digital processes for improving the evaluation and
monitoring of risk
...
These risks can impact the organization’s financial performance, operation, or reputation
...
Manual risk management processes can be slow, involve duplication and redundancy across
teams and departments, and leaves a lot of room for human error
...
With a manual
review, threats may not be detected in a timely manner, leading to security breaches and other
risks that could have been mitigated with an automated early warning system
...
It
also provides a comprehensive dashboard that showcases compliance status, risk levels, and
actions required
...
Intuitive for all users: A digital risk management solution should be intuitive for all users
across all 3 Lines of Defense
...
Integrated across 3 Levels of Defense (3LoD): The three lines of defense traditionally
include operational controls (1LoD), risk management and compliance (2LoD), and risk
assurance (3LoD)
...
An integrated
digital risk management solution will bring the 3LoD functions together into a unified team,
ensuring that all three lines have access to the same data, and that all metrics are evaluated
based on the same scoring criteria
...
Automated risk assessment: A digital risk management system should provide ongoing
automated risk assessments for your organization’s identified risks, based on monitored risk
indicators
...
Title: DIGITAL RISK MANAGEMENT
Description: A digital risk management solution can include the use of process automation, decision automation, digitized monitoring, and early warning systems, and it can provide in-depth analytics to help your organization better monitor your compliance status and current threat level for all risk factors.
Description: A digital risk management solution can include the use of process automation, decision automation, digitized monitoring, and early warning systems, and it can provide in-depth analytics to help your organization better monitor your compliance status and current threat level for all risk factors.