Although the ORM platform is ready for use out of the box, independent ORM consultants can assist you with its rollout across the organization. An ORM process review is the perfect solution when you need the extra assurance that your business processes are compliant or are broken and in need of repair.
Our 12-Step Process Review
Using the intuitive ORM platform and integrated Compliance Library of laws, rules and regulations, it takes between two to four weeks to complete the ORM 12-step process review and significantly improve the risk profile of your business. Timing depends on the complexity of the organization and/or your risk requirements.
1. Document the business process flow
Click to See ORM OutputProcess Flowchart
2. Identify and assess risk scenarios associated with each process step
Risk Scenario Assessment
3. Identify and document compliance and operational risks associated with the risk scenarios
Process Risk Inventory
4. Assess the significance of each risk
Inherent Risk Assessment
5. Identify and document risk owners for points of vulnerability
Risk Owner Matrix
6. Identify and document the controls implemented to mitigate risk points
Risk and Control Matrix
7. Identify and document the control owners
Control Owner Matrix
8. Identify and document control gaps and weaknesses
Process Exposure
9. Assess the effectiveness of the controls in mitigating the risk they are intended to address
Residual Risk Assessment
10. Identify and document action plans to address control weaknesses and assign ownership
Action Plans
11. Prepare management report of process risk assessment
Risk Assessment Report
12. Prepare monitoring and control tools
ORM Dynamic and Interactive Controls
Typical Process Review Schedule
ORM consultants will facilitate, document, and produce the work from the process reviews. Beginning-to-end completion within two to four weeks.
