Departmental Risk Assessments Software

The hallmark of a healthy ERM program is accurate risk assessments. LogicManager’s pre-built & configurable Departmental Risk Assessments solution package is the place to start.

What is a Departmental Risk Assessment?

If completing a standard risk assessment involves analyzing the specifics of different risks faced by your entire organization, then a departmental risk assessment looks at the risks faced by each department within that organization. Consider it like an examination of individual trees within a forest, where each tree’s exposure to danger is the focus rather than threats posed to the entire ecosystem. 

As a Risk Manager, these granular insights can help you determine upstream and downstream dependencies and discover the root cause of both departmental and systemic risks at your organization. 

Examples of Departmental Risks

  • Operational safety hazards, such as exposure to contagious illnesses like COVID-19, natural disasters, collapsed infrastructure and more.
  • Customer service failures, including inadequate employee training, slow response times and silo’d communications.
  • Legal threats, where new and changing regulations can pose severe financial and reputational damage to your business if you get caught by surprise.
  • Sales obstacles, including inaccurate projections, lack of alignment with marketing messages and inadequate product knowledge.
  • IT risks, that can materialize into illegal use of data or full system failures.

Departmental Risk Assessment Risks

Just because you’re not involved in the day-to-day processes of a particular department at your organization, as a Risk professional, it’s your job to understand everything. That’s the only way you have a chance at preventing a future slip-up or disaster. Failure to do everything you can to keep your company, its stakeholders and customers out of harm’s way can lead to negligence charges.

Let’s say you do everything you can, but the evidence is scant, or even missing – now what? Your path to dismissing negligence claims becomes severely obstructed. Incidents that result from negligence not only harm the victims, but they can harm your company’s reputation and bottom line for years down the line.

Complete your Departmental Risk Assessment with LogicManager

Standardize your processes

LogicManager makes identifying systemic issues that affect your entire organization simple by standardizing the risk analysis process. As a result, the controls you design around those risks are centralized and ultimately, more effective.

Maintain a clear paper trail

Should an incident occur within a particular department, you’ll be equipped to prove that you did everything you could to stop it from happening. You’ll also be able to do so quickly and efficiently, as all your documentation can be housed in one centralized hub; and time is of the essence when you’re up against a lawsuit.

Reap all the benefits of GRC

Risks don’t happen in a vacuum; there are many interdependencies from your departmental risks assessments to e.g. your business continuity plans for those departments, the vendors they rely on, the regulations they must comply with and more. LogicManager is a fully integrated GRC platform that, by nature, highlights these interdependencies for you.

Eliminate duplicative work

Leverage existing efforts at your organization by easily viewing the risks and mitigating strategies in place across various departments. What controls are they deploying that might work for your team? Find commonalities all on your own or automate the process by using our Suggested Mitigations AI tool.

LogicManager’s Departmental Risk Assessment Solution

Here’s what you can expect when you bring LogicManager’s Departmental Risk Assessment solution content package into your ERM program: 

  • We have a centralized repository of all identified risks that all areas of your organization can be pulling from. Our risk library allows different business units to communicate in a uniform fashion, making it easy for you to identify and prioritize your most critical risks.
  • Our departmental templates are formulated off of best practices and can be used as the foundation for your ERM program. We also have a list of common controls that align with these templates that can be used as a starting point.
  • Connect risks to other risks and risks to the controls that mitigate them using our intuitive mapping capabilities. This is an invaluable tool for uncovering root cause.
  • Report on: 
    • Risks that have been identified over a certain period of time, identifying root causes, trends, gaps and insight into how to improve your current processes and controls.
    • Risks that are impacting multiple areas of your organization. Easily see the controls other areas of your organization have in place to mitigate these common risks.

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Departmental Risk Assessment Tools

Want to see what else our Departmental Risk Assessments solution package has in store? Request a free demo with one of our experts today!