He risk map constitutes a fundamental tool in the analysis of criminal risks and the preparation of regulatory compliance programs, in which the purpose is identify and measure risks to which the organization is exposed, providing a broad view of the organization's overall exposure to these risks.
The preparation of a risk map can be complex, since it will require collect a lot of information about the legal entity. His elaboration, design and structure They depend on the business activity in which the training program is going to be implemented. Compliance.
What are the phases for preparing a risk map?
- Knowledge of the business situation: Acquire a deep knowledge of the company and activity it develops.
- Risk identification: Detect and know the risks that affect the business by reflecting on the organization. The idea is to know the true exposure of the company to possible crimes And, to do this, it is important to know all the scenarios of both the company and the product or service it offers. Each organization is different, so identifying the context is essential to mark the differences and evaluate the specific risks to which it is exposed.
- Identification of controls: Define different types of controls: preventive controls, corrective controls and detective controls. The latter are focused on managing the risk once it materializes, that is, detecting it, while at the same time highlighting the effectiveness of preventive controls.
- Risk analysis: Assess the risks and categorize them based on a predefined scale of levels, relating between the probability that the risk can actually materialize in the organization and the impact that this materialization would generate. The impact can be considered from various perspectives: possible legal sanctions, loss of customers, damage to the company's image, claims from third parties, etc.
- risk assessment: Determine which risks can be assumed by the company and which cannot. The information collected in the previous steps is captured in a graphic representation.
The correct preparation of a risk map is essential for the prevention of crimes and therefore to maintain the company reputational health, promoting a culture of compliance and putting Good Corporate Governance into practice.
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