KRI (Key Risk Indicators): Actions checklist
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KRI Checklist
The check list below will help to find out if Key Risk Indicators were developed and implemented properly.
It is necessary to make sure you KRI are integrated in your business processes correctly. It is good idea to check your KRI against the checklist after significant changes in business processes.
- Study the specific industry verticals for appropriate risk assessment and strategic planning.
- The key risk indicators established must be in sync with the company goals and complement the key performance indicators.
- Identify the risks involved and draw a risk management plan to avert those risks.
- Periodically assess and review the risk management plan.
- Integrate the plan into the management system for appropriate reference.
- The key risk indicators established must be an integral part of the decision making process.
- Develop clear procedures for effective communication of the risks and opportunities that can meet the internal stakeholder requirements.
