How to use GlobalSuite® to manage your risks

A company runs security, operational, privacy and criminal risk assessments side by side, each with its own owner and methodology. If nobody coordinates them, a process owner ends up answering the same questions three times.

This white paper explains what risk management needs to work across the organisation and how GlobalSuite® helps you get there. It is useful for risk managers and for anyone coordinating several assessments at once.

The savings, in numbers

The document takes the time to implement an assessment from scratch as 100%. A second, privacy assessment on the same base needs 70%, and a strategic one cuts implementation by 75%, because it reuses the configuration, the organisational structure, the risks and the controls.

Assessments you can bring together

• Security
• Privacy
• Operational
• Criminal
• ESG
• Suppliers
• Strategic

What's in the guide

1. Risk cultureWhy it has to start with the CEO and senior management, and the three things that hold it up: risk DNA, common policies and coordination between areas.
2. Roles and a common frameworkWhat senior management, the risk management function and the risk-owning area each do, and why every assessment should follow the same procedure.
3. Four traits of effective managementCentralisation, automation, communication between areas and automatic publishing of results, with examples such as a single control inventory, alerts, surveys and the heat map.
4. Savings from running several assessmentsHow much time you gain in configuration, migration, training, assessment and reporting each time you add a new one.
5. Decisions and treatmentHow to use that time to decide whether each risk is avoided, mitigated, transferred or accepted, with action plans and cost/benefit analysis.

How GlobalSuite® calculates risk

The risk owner only rates inherent likelihood and impact. GlobalSuite® then works out residual risk automatically from the effectiveness of preventive and corrective controls.