Good morning...
I am currently looking for a good KRI and Control Monitoring Plan. Does anyone have any samples and methodology that I could utilise for the purposes of my work?
All help will be very much appreciated.
Many thanks, Kind regards, John
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John, wanted to pass along a bit of Methodology courtesy of LogicManager.
This article examines the subtle differences between testing to controls and metrics to ensure controls are effective, a common failure of ERM and an important issue to correct: http://www.logicmanager.com/erm-software/2013/11/06/how-to-effectiv...
There are three types of monitoring you'll want to explore: Metrics, Testing, and also Incident Management. Incidents are a manifestation of risk, and frequently captured in different silos through the organization (a good example of risk activity already being accomplished, but without the benefit and value of and ERM framework.) Let me know if you have any questions and I'd be happy to set up a call with our team to discuss.
Are we speaking about market risks indicators here ? Yes it comes with software.
Hi there John , if you are new to Key Riks Indicators you may just start from free stuff and low tco learning and testing online services like:
kpilibrary.com
SpiderStartegy.com
BSCDesigner.com
There you can find tones of free KPI and KRIs as well as many great sophisticated methodologies and frameworks to make them to use in an integrated and strategic way.
If you have a particular domain or operational aspect of Key Risk Indicators in mind for example : banking liquidity risk KRIs or Enterprise Asset Management Deprecation KRIs and so forth.
If any other thing is needed just drop an email and i will be more than glad to guide you through if that helps.
John
What you are probably looking for is a good dashboard for your KRI's, and the more customized it is to your audience the better. There are many 'standard' dashboards that usually come with software, but if you tailor it to, for example, the risk committee of the Board, you will have better reception.
KK