Risk Application & Assessment
To start a Risk Assessment (ERA) first a Risk Application must be sent to the client to collect information/docs.
Send Risk Application
To send the first or initial Risk Application, from Applications, select Send Application. Those with the Client Admin or Reviewer roles can send Applications.
Figure 1. Applications overview
Select Application Type
Info
Application Type defaults to Risk Application. Additional applications to be supported in the future.
Figure 2. Send application modal
Select Client
Info
Client profile must already have been created for client to be available. Notification will go to Client user(s).
Figure 3. Send application modal - client selection
Select Program Type
Client Program and Bank Program are available Program Types.
Figure 4. Send application modal - program type
Select Vertical
Verticals are available based on Program Type. Supported Verticals will be listed.
Figure 5. Send application modal - vertical
Select Product(s)
Products are available based on Program Type. Supported Products will be listed.
Figure 6. Send application modal - product section
More than one product can be selected at a time.
Figure 7. Send application modal - product section cont.
Generate
Select Generate to send the application to the client.
Figure 8. Send application modal - generate
Client Experience for Reference
New Application available from Applications dashboard.
Figure 9. Client able to see new risk application within Applications dashboard
Client completes Application and Submits to Bank for review.
Figure 10. Client application submission
Figure 11. Applications overview status will show as submitted
Review Application
From Applications, find Application and Select Review. Reviewers can review/approve a Risk Application.** See Sending Additional Risk Applications on how to review or request changes on an application.
Figure 12. Applications overview
Reviewer will review and Accept the Application. Risk Application Accepted. Ready for Risk Assessment.
Figure 13. Under review toggle commences review. Once compelte application is accepted on denied
Risk Assessment
From Risk Assessment the Assessment is now available from the Accepted Application. Reviewers can start and complete the Risk Assessment.
Figure 14. Risk Assessments - application may now be reviewed
Start Risk Assessment
Select Review to start the Risk Assessment.
Figure 15. Risk Assessments cont.
Risk Assessment available for Review.
Figure 16. Risk Assessment overview
Execute Risk Assessment
Reviewer will complete all Risk Assessment tasks with each Risk Category. Below is one example.
Select a Risk Category
Hover over any Risk Category tile and Select.
Figure 17. Risk Assessment category selection
Navigate to Risk Category from Assessment
To change Risk Category, return to Overview to select from tiles or select Risk Category from dropdown.
Figure 18. Risk category selection
Risk Analyst Task
Details of the task to be completed by the Reviewer.
Figure 19. Task for Reviewer
SME Guidance
SME Guidance has been provided, including recommended relevant document(s) to be reviewed.
Figure 20. Guidance provided by SME regarding task for reviewer
Question to Client & Response
View the question to the client and their response.
Figure 21. Question to client and their response
If question included a document request, click document to preview or download.
Figure 22. Client response uploaded document
Figure 23. Client response uploaded document view
Select Control Design & Effectiveness
Control Design & Effectiveness values: Highly Effective, Effective, Marginal, Needs Improvement, Weak
Control Design & Effectiveness determines Residual Risk calculation and updates Last Reviewed By.
Figure 24. Control design and effectiveness selection
Figure 25. Control design and effectiveness selection cont.
Add Comment/Notes
Add appropriate comment/notes from review. 1024 max character limit.
Figure 26. Comments of reviewer
Mark N/A
To mark an item N/A select the box. NOTE: Marking N/A will remove the task from the final risk calculation.
Figure 27. non applicable selection
Figure 28. non applicable selection cont.
Risk Category Real-Time Calculation
As tasks are completed the Overview will update calculating Category Risk in real-time.
Figure 29. Risk assessment review progress
Complete steps on all Risk Analyst Task, Save Assessment. You can Save and return to Assessment at any time.
Calculate Assessment / Overall Risk Score (Weighted)
When all Risk Analyst Tasks have been completed from the Assessment Overview select Calculate Assessment.
Figure 30. Calculate assessment of completed risk assessment
Overall Risk Score will be generated. If you are satisfied with the result, Complete Assessment. If result seems incorrect return to the Assessment and adjust responses and return to re-calculate.
Figure 31. Overall risk score populated
Complete Assessment – Final Risk Score (Weighted)
Figure 32. Compelte asesessment
View Risk Result Details
Select Risk Rating value.
Figure 33. Select risk rating value to view details
Risk Rating Details
Figure 34. Risk assessment details view
Add Final Notes (if applicable)
Figure 35. Option to add note regarding risk profile of client
Sending Additional Risk Applications
When sending a subsequent Risk Application after a client has already received a Risk Application (for exampling: if you are adding an additional program type or additional products to an already existing program) an option to Select a Related Application will be available.
Figure 36. Send application modal of client that has already received a risk application
In this example, Fast Cash already has a Client Program, MSB/Payments Risk Application with the ACH & Wire Products. To add RTP to their existing program select the previous application and add the new RTP Product.
This will generate a new application and carry over the client’s previously provided responses and documents, preventing duplication.
To send a blank Application, and re-request all information, select the X to remove the Related Application.
Figure 37. Send application modal, remove related application if a new application is required
Review Application
Select Review from the Application on the Applications List.
Figure 38. Applications overview - review selection
Toggle Application to Under Review.
Figure 39. Application category overview - under review toggle
Figure 40. Application category overview - application now under review
Request Changes to Application
From Application section, select Request Changes. Changes can be requested on any Application type.
Figure 41. from within a particlar section, select request changes
Select changes to be made and provide note back to client on Change Request.
More than one change can be requested at a time, but all changes must be requested by Application section.
Figure 42. Request changes modal
Figure 43. Changes requested icon added to each applicable question
Client will be notified Changes have been Requested. Once Changes have been addressed client will resubmit. Bank will be notified and can continue with Review steps.
Updated over 1 year ago