Risk Profile Definition
Risk profiles can be created for a supplier, relationship, or engagement and are helpful in determining “overall” risk when multiple risk programs are in use.
A Risk Profile Definition also allows for setting a “mitigating” component in order to reduce or increase the overall risk rating for a section depending on a previously defined mitigating definition.
The process to create a Risk Profile Definition is:
- Navigate to the Admin tab > Risk Profile Definition.
- Click New.
- Complete the required fields, as well as any optional fields you would like.
Click plus icon to add a risk category section or row within the risk category
Click x icon to delete a risk category section or row within the risk category
Click up arrow icon to move the entire risk category section up
Click down arrow icon to move the entire risk category section down.
- Order #: Enter the order number (the order the risk profile definition runs)
- Program Range: Select the program range
- Weight: Enter the weight of each entry
- Score X-Ref: Select the score cross-reference
- Control Program(s): Select the compliance program name (multiple programs can be selected)
Click Save, and then click Activate.