Risk Management Tasks

Performing risk management tasks in EmpowerID involves several key steps. To begin with, users need to create both Global and Local risks. Global risks pertain to actions that can be performed in multiple applications and are potentially risky. Conversely, Local risks relate to potentially hazardous actions performable within a specific system. Once these risks are defined, risk rules should be added to each risk. These risk rules are essentially the functions that are included in a risk, providing the basis for risk calculation. Next, mitigating controls are developed and added. These are measures that are put in place to reduce the impact or likelihood of the risk materializing. They form a crucial part of any risk management strategy. Finally, users must constantly monitor for risk violations. EmpowerID provides a dashboard that enables real-time viewing of risk violations, helping risk owners track, analyze, and make informed decisions about these potential threats. All these tasks are carried out within EmpowerID's user-friendly interface, which bridges the gap between technical control and business process comprehension.