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Mapping Controls for Risk Management

The objective of this SOP is to map relevant risks, rules, or business processes related to a control to understand how this control can help achieve the business's goals effectively.

Key Steps:

  1. Enter Relevant Business Processes:
    • Go to the configuration tab and enter the relevant business processes.
  2. Create a New Risk for the Control:
    • Within the control section, create a new risk associated with the control.
  3. Add Applications Used in the Control:
    • Specify the applications that are used in this control. Multiple applications can be added.
  4. Include External Service Providers:
    • Add any external service providers involved in the control process.
  5. Provide Accountability Statements:
    • Lastly, include accountability statements for clear ownership and responsibility.

Cautionary Notes:

  • Ensure that the business processes entered are accurate and up-to-date.
  • Double-check the applications, external service providers, and accountability statements for completeness and accuracy.

Tips for Efficiency:

  • Utilise the sorting feature to organise risks effectively.
  • Regularly review and update the mapping of controls to ensure alignment with business goals.

Watch a video demonstration: