To start a Risk Assessment (ERA) first a Risk Application must be sent to the client to collect information/docs.
To send the first or initial Risk Application, from Applications, select Send Application. Those with the Client Admin or Reviewer roles can send Applications.
Application Type defaults to Risk Application. Additional applications to be supported in the future.
Client profile must already have been created for client to be available. Notification will go to Client user(s).
Client Program and Bank Program are available Program Types.
Verticals are available based on Program Type. Supported Verticals will be listed.
Products are available based on Program Type. Supported Products will be listed.
More than one product can be selected at a time.
Select Generate to send the application to the client.
New Application available from Applications dashboard.
Client completes Application and Submits to Bank for review.
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.
Reviewer will review and Accept the Application. Risk Application Accepted. Ready for Risk Assessment.
From Risk Assessment the Assessment is now available from the Accepted Application. Reviewers can start and complete the Risk Assessment.
Select Review to start the Risk Assessment.
Risk Assessment available for Review.
Reviewer will complete all Risk Assessment tasks with each Risk Category. Below is one example.
Hover over any Risk Category tile and Select.
To change Risk Category, return to Overview to select from tiles or select Risk Category from dropdown.
Details of the task to be completed by the Reviewer.
SME Guidance has been provided, including recommended relevant document(s) to be reviewed.
View the question to the client and their response.
If question included a document request, click document to preview or download.
Control Design & Effectiveness values: Highly Effective, Effective, Marginal, Needs Improvement, Weak
Control Design & Effectiveness determines Residual Risk calculation and updates Last Reviewed By.
Add appropriate comment/notes from review. 1024 max character limit.
To mark an item N/A select the box. NOTE: Marking N/A will remove the task from the final risk calculation.
As tasks are completed the Overview will update calculating Category Risk in real-time.
Complete steps on all Risk Analyst Task, Save Assessment. You can Save and return to Assessment at any time.
When all Risk Analyst Tasks have been completed from the Assessment Overview select Calculate 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.
Select Risk Rating value.
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.
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.
Select Review from the Application on the Applications List.
Toggle Application to Under Review.
From Application section, select Request Changes. Changes can be requested on any Application type.
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.
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 8 months ago