Modifying the Risk Matrix

As an administrator, you can update the Risk Matrix to reflect your company policies throughout Operational Risk.

Select Administration > (Configuration) Editor, and then expand the Risk Matrix section.

• • To view all settings at once, select Risk Matrix. Scroll to find the group of settings you’re looking for.
  • To view settings for an individual section only, select that section; for example, select Consequence Impact (Category 3) to view only those settings.
    
  • Only Active items can be modified (Inactive items are grayed out).
  • To change the default value in a section, select Default in the last column.
    

The following Risk Matrix settings, defined during system implementation, can be modified:

• • Consequence Impact (Category #): set up to 9 sets of labels to describe the level of severity for consequences used during risk assessment
  • Consequence Category Settings: define categories for consequences, for example:
    
  • Consequence Severity Settings: set consequence severity labels, colors, and score values. These settings also determine the default Y-axis of the Risk Matrix.
  • Cause Likelihood Settings: set cause likelihood labels, colors, and score values. These settings also determine the default X-axis of the Risk Matrix. For example, if you have 5 active Cause Likelihood options, the Likelihood axis of your Risk Matrix will only have 5 values.
  • Risk Matrix Intersection Cells: see the color-coded risk matrix as it’s currently visible from the dashboard. Set the visuals and breakpoints for the Risk Matrix here. Select a cell to view your options:
    • Name: name of the cell in the Risk Matrix
    • Score: score for the cell. It’s used for sorting; configure it so that it scales according to the severity/likelihood.
    • Color: specific color for the cell
    • TEF/IPL Credit: Tolerable Event Frequency value or Independent Layer of Protection credit threshold for the cell
    • Switch Axis: swap the X and Y axes