Risk Management

This video discusses the process of identifying and managing risks in an organization using the Eramba risk management software. Key points include:

• Risks in Eramba are defined by scenarios that describe the problem, and require inputs such as assets, business units, third parties, and processes.

• Risks can be identified through interviews, online assessments, APIs, or by importing data from spreadsheets. The transcript recommends a simple interview-based approach to gather the necessary inputs.

• Once risks are identified, solutions in the form of policies, controls, exceptions, and projects must be defined to mitigate the risks. The solutions must be realistic and feasible for the organization.

• The transcript cautions against over-complicating the risk management process, as the number of inputs and solutions can quickly become unmanageable. It recommends keeping the scope and data collection realistic based on the organization's resources and capabilities.