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Compliant Assist
30 April 2026
Kyle Klein
12 May 2026
Published 30 April 2026

Risk Assessment Tool

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Risk Assessment Tool

The Risk Assessment Tool provides users with a centralised on-line Risk Assessment module that assists with the identification, rating and management of various types of risk items identified by the management team of the organisation. Once identified actions to address the risks identifies can be assigned action owners within the organisation.

Terms of Use

1Overview of the Risk Assessment Tool Module:
The Collective Owners will create a new risk assessment questionnaire by defining the Collective Name and defining the Criteria and scoring matrix to be used in the assessment process. Items in the collective are assessed and if the Threshold is met, the Collective Owner will add SMART actions to address the risks above. Users are able to update progress in completing actions, upload proof of evidence, and generate reports.
2 The working of the Risk Assessment Tool module:
Risk Assist
  • Step 1

    - The collective for assessment are captured into the on-line risk assessment register. Each collective is assigned to a Collective Owner (person of directorate / department) ;

  • Step 2

    - The Collective Owner(s) will build the assessment template, define the assessment criteria and assessment calculation method, define the action threshold and activate the template. Once activated, and the assessment is completed, items included in the collective that have a score above the threshold, will be actioned using the SMART principles;

  • Step 3

    - The Action Owner(s) will complete all the required actions and will update their progress on the online risk assessment register;

  • Step 4

    - The Management team and other operational support functions will provide support and guidance to the Action Owner(s) with the completion of the required actions.

  • Step 5

    - The Risk Committee can edit and update the various components in a real time basis and the various actions are completed. All changes are automatically written to the online audit log.

3 Risk Assessment Tool Key Features include:
  • The availability of multiple online Risk Assessment Registers.
  • Functionality for the module administrator to define and manage user access as required by the organisation.
  • Functionality for the module administrator to define all client-specific defaults for the module, including the ability to define acceptable risk parameters.
  • Real-time, up-to-date dashboards for each user showing overdue actions, actions due today, and actions due in the future based on the number of days defined by the user.
  • A 3-click process for action owners to update assigned actions.
  • Functionality for users to attach documents to actions as required operationally.
  • Standard audit trail reporting where all activity on the tool is logged and time-stamped.
4Risk Assessment Tool Operational Benefits include:
  • High level of organisational customisation in defining module setups to meet the organisation’s specific business requirements.
  • Automatic generation of notifications and reminders to predefined users.
  • Individual user dashboards clearly show the progress of assigned actions and indicate when actions are overdue (past the defined deadline date).
  • Reporting can be generated on screen or exported to Excel.
  • Generation of various quick reports, including numeric data for status and exception reporting for management purposes.
  • Improved communication between stakeholders as up-to-date information is available on a centralised Online Risk Assessment Register accessible to all registered users at all times.
  • Actions are assigned to risks using the SMART principles.
  • The output from risk management processes can assist with operational and individual performance management.
  • Risk assessment and action data is stored in the database for future reference and reporting purposes.