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Driving the Data Dividend

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4 Risk data and the business Risk information can be used at all levels of the business as described to the right. Where data is used for business planning at the senior level, it must be visual, simple and tied to clear organisational priorities. Data shared at business unit level can link to KPIs to support management in reaching their operational objectives and increasingefficiency. INPUT USER OUTPUT 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 SENIOR MANAGEMENT » Finance » IT » Security » Compliance OPERATIONAL MANAGEMENT » Individual risk owners Informing strategic decision making Aiding assessment of risk management and governance frameworks and risk financing decisions Supporting daily management of operational risk decisions RISK DATA AND THE BUSINESS DRIVING THE DATA DIVIDE | 4

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