This month has seen a large number of small improvements to existing functionality within the KRM22 Enterprise Risk Cockpit; two enhancements stand out in particular.
One of the biggest, but perhaps least noticeable changes to the Risk Cockpit this month has been the complete rebuild of the Smart Register data grids.
We rebuilt these grids to deliver a range of functional improvements in the short term and to provide a more robust foundation for the development of planned, advanced capability in the future.
In the short term, the key functional improvements that users should notice in the Smart Registers are;
Another significant change during this month has been the addition of intraday frequencies on metrics allow data to be captured in various timeslots, down to as little as 5-minute intervals.
This enhancement was made in response to a customer request who is using the Risk Cockpit within their operations and IT functions. This customer’s risk profile can change very quickly during the day; therefore, they wanted to use metrics to “see those signals within the noise” of their data. This enables them to proactively respond, faster and earlier rather than ‘flying blind’ and being hit by a more severe issue further down the line.
Metric Threshold Plan is a piece of functionality within the Risk Cockpit which enables monitoring of metrics where the target values and thresholds change over time.
Two contrasting examples of where this functionality has been deployed include;
The MTP functionality already existed in the Risk Cockpit however, only for Weekly, Monthly and Quarterly metrics. During April, we enhanced this functionality to include all metric frequency, improved the look & feel, and enhanced the overall user experience of this functionality.