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KRI library

The KRI library is the list of an entity’s key risk indicators. Each indicator is defined against one risk in the register and carries an owner, a data source, a frequency and a unit, with a code the system issues.

Who may do it: the Entity Risk Manager defines and changes indicators for their own entity. Everyone else in ERM Core reads them; a KRI owner enters observations. See Roles and permissions.

What an indicator carries

Section titled “What an indicator carries”
FieldWhat it holds
KRI codeIssued by the system when the indicator is first saved, in the format KRI-CM-001. It cannot be typed or changed.
RiskThe risk in the risk register that the indicator monitors
OwnerThe person who answers for the indicator and enters its observations
Data sourceWhere the value comes from — a system, a report, a team, or BCP Core
FrequencyHow often a value is due, for example monthly or weekly
UnitWhat the value is measured in — a count, a percentage, an amount, a number of days
ThresholdsThe Green / Amber / Red bands — see Thresholds

Defining an indicator

Section titled “Defining an indicator”
  1. Open the KRI library of your entity.
  2. Start a new indicator and choose the risk it monitors.
  3. Enter the owner, data source, frequency and unit.
  4. Set the threshold bands — see Thresholds.
  5. Save. The system issues the KRI code and records you as the author.

Starting from zero: the Demonstration Set

Section titled “Starting from zero: the Demonstration Set”

A group with no indicators yet can start from the Demonstration Set that ships with ERM Core — a set of commonly used indicators with suggested units and frequencies. The Entity Risk Manager chooses which ones to adopt, links each to a risk in the entity’s own register, and calibrates the bands for the entity. An adopted indicator then belongs to the entity like any other.

What the system does or refuses

Section titled “What the system does or refuses”
  • Every indicator belongs to a risk. An indicator cannot be saved without one.
  • The KRI code is issued by the system and never typed.
  • Each entity defines its own indicators. A parent reads them and cannot create or change a subsidiary’s indicator — see Subsidiary-Independence.
  • The author and every change are stamped — see Who-filed is stamped.
Section titled “Related”