7
Driving the data dividend
4 Risk data and the business
Data shared at business unit level can link to KPIs to support
management in reaching their operational objectives and increasing
efficiency.
Risk information can be used at all levels of the business as
described in Figure 2. Where data is used for business planning
at the senior level, it must be visual, simple and tied to clear
organisational priorities.
Figure 2: Risk data and the business
INPUT
RISK DATA
Risk appetite statements
Risk registers
Key performance indicators
Key risk indicators
Insurance claims information
Loss and near miss
information
Risk survey data
Customer interaction patterns
Purchased data
Data sourced from the internet
and cloud
BOARD
Risk committee
Audit committee
Informing strategic
decision making
SENIOR
MANAGEMENT
Finance
IT
Security
Compliance
Aiding assessment
of risk management
and governance
frameworks and risk
financing decisions
OPERATIONAL
MANAGEMENT
Individual risk owners
Supporting daily
management of
operational risk
decisions
USER OUTPUT
