CAF risk analysis and rating

“If you can measure that of which you speak and can express it by a number, you know something of your subject; but if you cannot measure it, your knowledge is unsatisfactory.” Lord Kelvin (1824 – 1907)

The risk analysis of the compliance application framework includes the search for causes, the permanent monitoring of the risk factors with regard to type and development as well as the definition of delimitation criteria and methodologies for risk classification and assessment.Within the framework of compliance application frame risk assessment, an assessment is made of the scope of the identified risks, based on their probability of occurrence and quantitative effects.Using mathematical-statistical methods, the loss potentials of the evaluated transactions are evaluated.The risk measurement as part of the risk assessment process determines the loss expectation value as a product of the probability and the amount of the imminent loss of assets.On the basis of the results, changes to the risk strategy are to be made.

In the risk assessment, a characterization with regard to the probability of occurrence and the expected damage level is appropriate. When these two factors are combined with a matrix, the risks are highlighted, which require the greatest need for action.

The classification or risk assessment presented here enables a well-defined, efficient and consistent transition to CAF management and control processes.The reporting of risks, assignment of responsibilities, documentation and communication requirements and the thresholds for further measures should be defined.


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