Risk Maturity Model Software

$0.00

Want to assess the true effectiveness and adequacy of your ERM program? Start by aligning your efforts with best practices using LogicManager’s research-backed, standardized assessment: the Risk Maturity Model (RMM).

Book Demo

?Add solutions to your Favorites List to share with others by email and discover how we can meet your specific needs.
Category:

Why a Risk-Based Approach is Important:

LogicManager’s RMM Solution

Here’s what you’ll experience during the process of completing the Risk Maturity Model:

  • Use the version of the RMM that works best for you:
    • The main version of the RMM presents competency drivers aimed at assessing the maturity of your entire enterprise or a whole vertical. We recommend this version be completed by the ERM team or an executive at your organization.
    • Another version of the RMM has competency drivers adjusted for frontline employees. We recommend that this assessment be sent to 10-20% of your employees to collect their perspective on the culture of risk management at the organization.
  • The out-of-the-box Issue Tracking form provides you with best practice fields to track your case issue data. Everything is customizable, allowing you to edit, update or combine with your own fields.
  • Leverage an implementation guide, complete with mitigation guidance for maturing your risk management program. This is powered by LogicManager Taxonomy Insights.
  • The RMM bubble reports calculate your maturity level for the seven major attributes, and each of the components, laying out perfectly where your organization excels and where you need to improve
  • Other reports such as the RMM heatmap by assessment, readiness control matrix, and RMM trending report allow you to facilitate beneficial cross-departmental conversations and track your program’s progress over time.
  • Using 25 success factors and 71 competency drivers, the RMM will uncover areas of improvement in order to qualify for an ESG disclosure.
    • Use your results to prioritize and draw a roadmap to achieving an adequacy level that you can put in your 10K and 10Q disclosures.
    • Generate sustainability reports on an ongoing basis to back up your statements.
    • Before you know it, you’ve eliminated your compliance and regulator exam risks by having sound reports that support the strength of your ESG program.

Why use the RMM for your ERM/GRC program?

Not only can the RMM help you measure your current risk maturity, but the LogicManager platform will help you execute on improving your program over time and become more mature in the long run.

Request a Free Demo of LogicManager’s
Risk Maturity Model

REQUEST A FREE DEMO

Evaluate your Risk Maturity with LogicManager

Improve your bottom line

A study conducted by Queen’s University found that companies with a mature ERM program are proven to realize up to a 25% premium on their market value. With data like that, it’s undeniable that the work we do as risk managers is incredibly important to our organizations.

Justify investment in your program

If you’ve ever needed to pitch the importance of your ERM program to the board or other stakeholders, the RMM serves as a great tool to warrant additional spend or resources. Quantifying the areas for improvement you need to reach a respectable level of maturity can help significantly when making your case.

Learn from industry leaders

The RMM highlights industry best practices to apply to your own organization’s efforts, no matter how unique your structure, culture or strategic goals. These standards can be applied to various areas across the enterprise, and can serve as the foundation for your work for years to come.

Enterprise Risk Management Software Heatmap

What is the Risk Maturity Model?

Auditors need a method to assess the “adequacy” of their risk management programs. But without a formalized method, they can not say with confidence that all of the organization’s material risks are being identified. So how can you ensure that there’s a strong risk management program in place? How can you be confident that you’re identifying and accurately assessing all critical risks relevant to your organization?

LogicManager’s Risk Maturity Model (RMM) determines the level to which your organization is aligned with the characteristics of a mature ERM program. A mature risk management program sees gaps in processes as opportunities for improved performance. Every gap that you close is a step towards more effective identification, mitigation and monitoring of your risks. This in turn helps to ensure that you’re lowering the overall risk level of your organization.

Risks

Every department within your organization holds risk. The natural extension of this means that every department then also benefits from a mature risk management program, that helps mitigate and manage that risk. If these processes aren’t being done throughout your organization, you aren’t gaining the benefits of a mature program. Without evaluating the maturity of your program, you increase the risk of misalignment between your ERM team and the frontlines of your organization.

A mature risk management program also helps mitigate the risk of negligence within your organization. In order to not be found negligent, you must have a way of proving that the risks that materialized into the incident leading to the negligence claim were disclosed to your stakeholders. This is always addressed in a mature ERM program.

Request a Free Demo of LogicManager’s
Risk Maturity Model Tools

Want to learn how LogicManager’s Risk Maturity Model can help transform your ERM program? Start by requesting a free demo today.

REQUEST FREE DEMO

Title