Properties installed with Advanced Risk
Summarize
Summary of Properties Installed with Advanced Risk Governance, Risk, and Compliance > Risk Management Reference
This document outlines the properties available with the Advanced Risk module in ServiceNow's Governance, Risk, and Compliance (GRC) suite. These properties enhance risk management capabilities such as risk assessments and risk events, enabling organizations to tailor their risk processes effectively.
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Key Features
- Advanced Risk Properties: Control settings for risk hierarchy, risk rating configurations, and enable enterprise risk licensing features.
- Risk Event Properties: Features for machine learning predictions, Basel attribute display, currency conversion configurations, and mandatory risk relationships.
- Advanced Risk Assessment Properties: Options for migrating to advanced assessments, integrating with Project Portfolio Management, and defining approval flows for metrics.
Key Outcomes
By utilizing these properties, ServiceNow customers can:
- Customize their risk hierarchy and ratings to align with organizational needs.
- Implement advanced features for risk event management, including integration with external operational risk data.
- Enhance risk assessment capabilities with project risk integration and tailored approval processes.
These configurations lead to improved risk visibility and management efficiency, ultimately supporting better decision-making within your organization.
Properties are added with activation of GRC: Advanced Risk. There are also properties that are available for the various capabilities such as risk events and advanced risk assessments.
Properties for Advanced Risk
All the properties for Advanced Risk, are listed on the System Properties page. To access the System Properties page, in the filter navigator, type sys_properties.list.
| Property | Description |
|---|---|
| Maximum number of levels for risk hierarchy [sn_risk_advanced.risk_hierarchy_max_levels] | Set the maximum number of levels of risk hierarchy.
|
| Configure risk rating [sn_risk_advanced.risk_rating_config] |
Compare calculated risk score with either of choices Maximum calculated ALE,
Minimum calculated ALE, Average calculated ALE.
Note: This property works with classic risk scoring. |
| Compare risk tolerance [sn_risk_advanced.risk_tolerance] |
Compare risk tolerance based on either of the choice Average, Maximum, Minimum,
Sum.
|
| Enable the GRC enterprise risk licensing features [sn_risk_advanced.enable_irm_advanced_risk_enterprise] | This property enables the GRC enterprise risk licensing features.
|
Properties for Risk Events
To access the risk event properties, navigate to .
| Property | Description |
|---|---|
| Machine learning solution for predicting similar risk events [ml_sn_sn_grc_pred_intel_global_similar_risk_events] | Solution definition for predicting similar risk events. |
| Show Basel attributes and reports [sn_risk_advanced.show_basel_attr_reports] | Set this property to true if you want to enable the Basel categorization of
risk events. This property is useful for customers in the banking domain.
|
| Define risk event currency conversion configuration [sn_risk_advanced.risk_event_currency_conversion_date_config] | Property to define currency conversion dates for the risk event entries. You can select specific dates for currency conversion rather than relying solely on the date of impact to
calculate the net loss. The options are as follows:
Note: You can also override the defined currency conversion dates in the risk response template configuration. These changes apply to both new and ongoing risk event workflows. |
| Make risk event to risk relationship mandatory [sn_risk_advanced.make_riskevent_to_risk_relation_mandatory] | Set this property to true if you want to ensure that each risk event has
corresponding risks.
|
| No. of days for Rapid Recovery Classification [sn_risk_advanced.no_of_days_for_rapid_recovery_classification] | Customize the number of days that users can set as their rapid recovery
threshold.
|
| Show ORX External events [sn_risk_advanced.show_orx_events] | Users can choose to see the ORX External Events. ORX provides a platform for the secure exchange of high-quality operational risk loss data from around the world. This property is useful for customers in the banking domain. Customers import the ORX information as shared by the ORX organization. This information can be related to risk statement or control objectives. This information can be modified by users.
|
| How many years of risk event data to be shown on the report [sn_risk_advanced.number_of_years_report_data] | Select how many years of risk event data must be shown on the report.
Note: This property is visible on the System Properties page. |
Properties for advanced risk assessment
To access the advanced risk assessment properties, navigate to .
| Property | Description |
|---|---|
| Migrate to Advanced Risk Assessments [sn_risk_advanced.hide_risk_legacy_lifecycle] | Migrate to Advanced Risk Assessments.
|
| Enable Advanced Risk PPM Integration [sn_risk_advanced.enable_advanced_risk_ppm_integration] | Perform project risk assessments. Only users with the it_pps_admin or sn_
risk.admin roles can enable this property.
Note: This
property is only available when Project Portfolio Management is
installed. |
| sn_risk_advanced.metric_approval | Enables Risk administrators to define either the simple approval flow or the advanced approval flow for all the metrics and metric definitions. Note: The choices are as follows:This property is available only when the sn_grc_appr plugin is
activated and must be set while configuring the ESG Management application.
|