A comprehensive risk and control self-assessment methodology – Part II
This series of articles for ORR provides a comprehensive RCSA methodology, and an associated scenario analysis approach. Part II of the series explains how to construct the necessary risk metric
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In our previous article we presented an intuitive, structured and powerful RCSA framework that empowers management to transparently identify and assess the firm’s risk exposures, and gauges the strength of the control activities put in place to manage them. To fulfill this premise, the RCSA framework needs to be complimented with defined objective criteria to assess the risks and controls consistently throughout the firm, reducing subjectivity and
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