SAP GRC (Governance, Risk, and Compliance) Risk Management is a module within the SAP GRC suite that helps organizations identify, assess, and mitigate risks across various business processes. It provides a systematic approach to risk management by integrating risk-related activities into an organization’s daily operations.

Here are some key features and capabilities of SAP GRC Risk Management:

• Risk Identification: The module allows organizations to identify and document risks associated with their business processes, systems, and controls. Risks can be categorized, and their potential impact and likelihood can be assessed.

• Risk Assessment: SAP GRC Risk Management enables organizations to assess risks based on predefined methodologies or customized risk assessment models. It supports qualitative and quantitative risk assessments, helping organizations prioritize and focus on critical risks.

• Risk Mitigation: Once risks are identified and assessed, the module helps organizations develop and implement risk mitigation strategies. It allows for the creation of risk mitigation plans, assignment of responsibilities, and monitoring of mitigation activities.

• Risk Monitoring and Reporting: SAP GRC Risk Management provides real-time monitoring of risks and tracks the effectiveness of mitigation measures. It offers reporting capabilities to generate risk dashboards, risk heat maps, and other risk-related reports to support decision-making and compliance requirements.

• Integration with other GRC Modules: SAP GRC Risk Management can be integrated with other modules within the SAP GRC suite, such as Access Control and Process Control. This integration enables a holistic approach to governance, risk, and compliance management.

• Compliance Management: The module helps organizations align their risk management practices with regulatory requirements and industry standards. It supports compliance monitoring, documentation, and reporting, ensuring adherence to relevant regulations and guidelines.

• Workflow and Collaboration: SAP GRC Risk Management facilitates collaboration among different stakeholders involved in risk management processes. It offers workflow capabilities to streamline risk assessment and mitigation activities, allowing for efficient communication and coordination.

By leveraging SAP GRC Risk Management, organizations can enhance their risk management practices, improve decision-making, and ensure regulatory compliance. It provides a centralized platform to identify, assess, and mitigate risks, enabling proactive risk management across the enterprise.