Enterprise Risk Management
Connect your Risk and Resilience Data
CLDigital 360 allows you to create KRIs and KPIs and relate these indicators to risks in the register, assets, loss events, and the organization structure (people, process, technology, etc.). The risk assessment and risk registers can be assigned to any level of the organization structure and aggregated based upon filters you can configure. CLDigital 360 supports issue tracking, reporting, action plans, workflows, alerts, and issue resolution.
CLDigital 360 provides standard reports and dashboards that identify KRI health based on filters. These are all configurable visually by the admin or the end user if you provide them access to change the thresholds and tolerance levels. CLDigital 360 comes with a built-in report builder so you can configure visualizations and heatmaps with what we provide out of box or build your own.
Manage Complexity and Controls
The entire risk management process is built with configurable workflows allowing risk leaders to orchestrate all the activities and actions required to capture, mitigate, and assess risks and controls. Automation helps manage task assignments such as contributions and approvals, escalations, and identifying the impact of changes to a control.
The CLDigital 360 Common Controls Library allows you to create a central hub for all of your controls and map to authority documents/requirements like NIST, ISO, COSO, FFIEC, and others. Mapping does not require development or integration. CLDigital 360 can import or export controls to support your own standards or standards from a third-party provider such as UCF.
What Is Enterprise Risk Management?
Enterprise risk management (ERM) is a structured approach to identifying and assessing risks and implementing solutions to mitigate them across an organization. Strong ERM helps businesses anticipate threats and ensure risk-taking activities align with the organization’s culture, budget, and goals.
Typically, ERM includes risk management frameworks and risk response controls. Large organizations hire risk officers or a chief risk officer to manage these critical considerations.
What Are the Benefits of an Enterprise Risk Management Solution?
An enterprise risk management solution can help you manage uncertainty with better control and clarity. This includes reducing financial risk, balancing growth activities with the business’s general risk appetite, and mitigating operational risks to maximize compliance and safety.
Key benefits of enterprise risk management include:
- Improved risk visibility and accountability
- Faster, data-driven decision-making
- Stronger compliance and audit readiness
- Reduced operational and financial exposure
- Better alignment between risk and business strategy
What Types of Risk Does Enterprise Risk Management Address?
ERM solutions help you identify and manage risks that might impact business continuity or brand reputation. You can also address financial risks and those that might throw performance off track.
For example, strong ERM helps you identify and stay ahead of operational risks such as system failures and strategic risks such as shifts in the market or new competition. Financial risks you can avoid with strong ERM include credit exposure or cash flow challenges.
ERM also supports compliance and governance by tracking legal risks, helping you remain agile in a dynamic business environment that often has to contend with ever-changing federal, state, and industry regulations.
Why Choose CLDigital?
CLDigital’s enterprise risk management solution is designed for visibility, flexibility and control. We empower you to monitor and assess risk so you can respond in real time to mitigate issues and stay compliant.
