Video Training for Overview: KRI Register Tab
Audio Extract for Overview: KRI Register Tab
Transcript and Screenshots for Overview: KRI Register Tab
In this training, I will give you an overview of the KRI Register tab, in Managenable® risk template software.
The KRI Register tab is available from the Home tab, under the Dynamic section.
In the KRI Register tab, you can record information related to Key Risk Indicators.
KRIs, or Key Risk Indicators, are used to monitor risk exposures over time in view to give an early warning of possible degradation, or of potential risk occurrence.
Therefore, working with KRIs means using specific measures related to some thresholds, with an analysis of volatility and trending.
Also, the KRI Register tab is paired with the KRI Parameters tab for the customization of drop-down lists, and for the color coding of items in these lists.
In the KRI Register tab, the validity status of each record, and the overall register, is available on the leftmost column.
The KRI Register tab is an extension of the Risk Register tab.
Therefore, the first few columns of the KRI Register tab are information extracted from the Risk Register tab.
Those columns are greyed, because any input or change in these columns can only occur in the Risk Register tab.
The column Use Info in this Tab enables you, for each Risk ID, to choose if you want to use, or not to use, the features available in this KRI Register tab.
For more information on the Options tab, on the KRI Parameters tab, on Validity Status in Registers, on the column Use of Info in this Tab, and on the Use of Custom Lists, please refer to the relevant training.
The section KRI Description is where you record an outline for the KRI.
The column Possible Risk Events is automatically extracted from the Risk Register tab. This is useful information for defining the KRI.
The other columns are available for recording the KRI Description, with a brief rationale…
… and for selecting if the KRI is a leading or lagging type of KRI.
The section KRI Scrutiny is where you record what will have to be scrutinized for the KRI.
The column Key Performance Indicator is automatically extracted from the Objective Register tab, for the objective at risk.
This is useful information since there is indeed a link between Key Performance Indicators and Key Risk Indicators.
The other columns are available for recording the measure required for this KRI, with the thresholds to monitor closely, and the known or expected volatility of the KRI…
… where you select 1 of the 5 levels, from very low to very high volatility.
The section Risk Zone and Gap is automatically extracted from the Risk Register tab.
These columns give you the latest risk zones and gap status for the Risk IDs.
Actually, the Gap To Control is automatically calculated in the Risk Register tab.
This gap represents what needs to be addressed to reach the acceptable level of risk: this is the difference between the current or residual risk level, and the acceptable risk level.
The following sections, are those that you update regularly.
The section KRI Status and Trending is where you record the latest status of the KRI.
You record the latest measure, and you select 1 of the 5 items with regard to how this latest measure compares with the threshold set in the section KRI Scrutiny.
When taking into account the current KRI status, you select 1 of the 7 possible Overall Trend for the KRI, from a good trend to a bad trend.
The section KRI Response is where you record information with regard to the response to undertake to address the KRI, with its owner, and the target date.
The section KRI Review is where you record key information related to the regular follow-up of the Key Risk Indicator: the date of last review, the reviewer’s name, the frequency of review, and the date for the next review.
Finally, the section KRI Notes, is where you type any notes you may want to add.
Additional Help & Training
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