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Enterprise Risk Management (ERM)

Enterprise Risk Management (ERM)

FastWorks ERM provides a framework for risk management, which involves identifying particular events or circumstances relevant to the organization’s strategy and objectives. By assessing both risks and opportunities in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress, FastWorks ERM helps organizations manage their risk profile. By performing ERM, you protect the safety of all your resources, including governance, business processes, operations, and network infrastructure. This is very important in protecting and creating value for stakeholders, shareholders, employees and customers.

FastWorks ERM helps you to:

  • Perform comprehensive risk assessments
  • Identify and continuously reassess associated controls
  • Secure control and strict confidentiality over critical and sensitive information based on individuals, groups or roles
  • Automatically route risk assessments and control tests to appropriate parties for approval
  • Monitor the status and results of all risk assessments and controls
  • Create and track action items, CARs, PARs and meetings from Control Tests depending on the severity and scope of the results
  • Escalate missed deadlines to responsible management
  • Automatically notify assignees of pending Risk Assessments and Control Tests
  • Access locked audit trails
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