Figure 12: The dashboard shows the calculated risk score and each risk area Tech Tip: If this were a less important issue, I might just create a task for someone to investigate or take a specific action. But this is more important. Since I9ve got the If you have IRM and IRM risk management product, I9m going to create a risk event. I can do this easily Third-party Risk using the button in the upper right-hand corner of the screen. Management, you can When the dialog box opens, it9s already prepopulated with some information. This tie controls to a specific issue is a critical risk with a financial impact, so I9ll make sure that9s selected and response to a question enter the expected loss, which is $100k. The risk event gets created and assigned on a questionnaire. An to the risk manager at the company as soon as I hit submit. The risk event will also show up automatically in the ESG Management workspace, so our ESG team will incorrect answer will know about it. result in a control failure Grace, the risk manager, sees the new risk event for ToysCo when she navigates to and automatically Show Risk Events in her workspace, along with all the information she entered. She generate an issue, checks out the impacted entity and decides to perform a root cause analysis. speeding time to After assigning the risk to herself, she lists the consequences and any actions resolution. already taken. She enriches the risk event by attaching the risk event to a specific