Enterprise Risk Management System
Establish a structured environment for managing organizational risk from initial identification through assessment, response, review, and reporting. LaserGRC helps risk and business teams maintain risk records, define ownership, document mitigation activities, monitor changes, and support consistent enterprise-wide risk governance.
What this solves for enterprise risk management teams
Disconnected Risk Registers
Replace isolated risk records maintained across departments with a structured system that gives teams a consistent way to capture and maintain enterprise risks.
Uneven Risk Management Practices
Create common processes for identifying, evaluating, assigning, treating, and reviewing risks across different organizational functions.
Risk Actions Without Central Oversight
Connect mitigation activities and follow-up tasks to the risks they address, making it easier to monitor ownership, deadlines, and progress.
Difficulty Consolidating Risk Information
Help risk leaders bring information from multiple areas of the business into a format that supports enterprise-level review and ongoing governance.
Organizational Risk Inventories
Capture and maintain risks across departments, business processes, objectives, and operational areas.
Risk Evaluation Frameworks
Apply defined assessment criteria to document risk conditions, exposure levels, and evaluation outcomes.
Risk Ownership Structures
Connect individual risks with accountable owners, stakeholders, and responsible business functions.
Mitigation & Response Activities
Record planned responses, mitigation measures, action items, target dates, and progress against identified risks.
Periodic Risk Reviews
Support scheduled reassessments and updates so risk information can be refreshed as business conditions change.
Risk Management Reporting
Compile structured risk information for leadership reviews, governance activities, oversight discussions, and internal reporting.
How an enterprise risk management system supports the risk lifecycle
Map the Current Risk Framework
Review existing risk categories, registers, assessment methods, ownership structures, reporting practices, and governance requirements.
Design the System Structure
Define the organizational hierarchy, risk taxonomy, evaluation criteria, roles, and other elements needed for the ERM environment.
Prepare Risk Information
Review and organize existing risk records, assessments, response plans, action items, and supporting documentation.
Configure Lifecycle Workflows
Establish workflows for risk creation, evaluation, approvals, treatment planning, reviews, action tracking, and reporting.
Test Risk Management Scenarios
Validate the configured system using representative risks and review processes to identify areas requiring refinement.
Establish Ongoing Governance
Fine-tune review schedules, reporting requirements, responsibilities, and system practices to support continuing risk management.
FAQs
(Frequently Asked Questions)
What is an enterprise risk management system?
An enterprise risk management system is a structured software environment used to manage organizational risks through processes such as risk identification, assessment, ownership, response planning, monitoring, and reporting.
What does an enterprise risk management system typically include?
It can include risk registers, assessment workflows, risk ownership, treatment plans, action tracking, review schedules, documentation, and reporting capabilities.
Can LaserGRC support different enterprise risk categories?
LaserGRC can help organizations structure and manage different risk categories according to their internal risk framework, business structure, and governance requirements.
Can the system track risk mitigation activities?
Yes. Teams can use structured workflows to document mitigation activities, assign responsibilities, establish target dates, and monitor outstanding actions.
How does an ERM system support risk governance?
An ERM system helps establish consistent processes for maintaining risk information, assigning accountability, conducting reviews, tracking responses, and preparing information for management and governance discussions.
Connect risk records, assessments, ownership, response plans, actions, reviews, and reporting within a consistent ERM environment. LaserGRC helps organizations coordinate risk management activities while maintaining visibility across the enterprise.
