The Risk module provides GRC Suite users with most advance analytical tools in a single repository. Specific details of risks such as description, root cause, categories, owners, impacted process, likelihood, impact, score, etc. are stored and updated there.

Grace Connect Risk Management modules provide sound and efficient management of non-financial risks across the organization.

Grace Connect Risk Management modules are designed to identify, measure, mitigate, monitor, and report on qualitative measures of all non-financial risks that may arise in the organization from new projects, processes, or from forward looking risk assessments performed by business line managers. The Risk module also encompasses the possibility to perform Privacy Impact Assessments.

Grace Connect Risk Management offers a module dedicated to Operational Risk Scenario analysis to measure Low Frequency and High Severity type of events.

The GRC Suite also includes a specific module to carry out self-assessments of the Risk Management Function, essential to assess the level of maturity of the risk framework within the organization.

Grace Connect Risk Management supports all steps of a common risk management cycle: identification, assessment, mitigation, monitoring, and reporting.

It is designed to support best practices commonly observed on the market (e.g., ISO 31000, AS/NZS ISO 31000, COSO ERM and ISO 27001).

A set of graphs and KPI’s is available for users and management. It has been designed including “narrative” so that users can easily transfer identified by the tool main observations directly and automatically to their management report.