The FAIR Institute’s technical partner, RiskLens, joined us for a sponsored webinar to introduce Rapid Risk Assessment, a new capability on the RiskLens platform that brings high speed and high volume to FAIR™ analysis.
As Teresa Suarez, Senior Manager on the RiskLens Services team, explained, Rapid Risk Assessment is the answer to some important use cases, including:
- The C-Suite or Board, uneasy about loss exposure or regulatory compliance.
- Audit committee or regulators requiring identification of top risks.
- Business leaders evaluating a new digital initiative.
- A new CISO eager to get up to speed.
- Rapid identification of top risks that require additional detailed analysis and treatment.
- Policy exception request reviews.
- Emerging threat analysis.
- Federal Plan of Actions and Milestones (POA&Ms) Prioritization
Put another way, Rapid Risk Assessments fits in the Triage stage of the standard risk assessment continuum:
RiskLens was able to add the new capability but maintain the rigor of FAIR quantitative analysis with two innovations:
- A simplified approach to gathering data inputs necessary for FAIR analysis
- New integrated Data Helpers and Loss Tables that draw on industry data
Rapid Risk Assessment still runs on the power of Monte Carlo simulation to produce analysis results in financial terms:
Watch the webinar now to learn how your risk team can leverage Rapid Risk Assessment from RiskLens. For more information, attend the RiskLens Rapid Risk Assessment session at the upcoming 2020 FAIR Conference.