Common RCSA Challenges and the Proactive Mindset and Platform to Fix It

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Completing RCSAs (Risk and Control Self Assessments) and presenting their results to the Board and key stakeholders can leave GRC professionals pulling their hair out.

At LogicGate, we understand that this scenario probably sounds too close to home for many who work with risk assessments. As a former financial services risk consultant, I spent years helping everyone from top-5 US Banks to regional speciality financial firms navigate the RCSA process to deliver holistic views into their risk environments and complete it efficiently. One thing that was always true, was that when the periodic process took too long to complete each time, the stakeholders could get burnt out and not take the process seriously enough. 

But what if I told you it doesn’t have to be that way? There’s a more effortless way to perform RCSAs by automating many of the manual processes.

In this blog post I’ll provide some of the most common RCSA challenges, the proactive mindset needed to change how companies look at risk, and share how a platform like Risk Cloud can centralize your data and tasks and make stakeholder reporting a breeze.

What Are RCSAs

The RCSA process’ goal is to identify and evaluate risks and their associated controls. RCSAs use risk management practices to:

Identify and prioritize business goals Assess and manage risk areas Evaluate controls effectiveness Create risk action plans Ensure risks are identified and evaluated consistently across all areas of an organization RCSAs Take A Lot of Manual, Siloed Work

Many

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