Risk assessment platform (RAP) enhancement

June 3, 2022

Arctic Intelligence’s Risk Assessment Platform is a proprietary solution designed to be customisable and configurable. The enterprise-wide risk assessment solution enables businesses to identify risks and demonstrate compliance more efficiently and effectively. It hosts financial crime IP across 8 different risk domains (AML, Bribery & Corruption, Fraud, Sanctions, Correspondent Banking, Modern Slavery, Human Trafficking & Wildlife Trafficking). However, we are working with clients and partners to deliver alternate risk solutions for their business which may include climate change risk, cyber risk or any others. See the latest platform updates our in-house team of product managers, engineers and testers have designed.

Version 2.1.1 – 2 June 2022

Overrides on risk/control/assessment unit are now only removed by a recalculation if the recalculated rating matches the override rating (i.e. override is no longer needed).
The Preview Audit popup window now displays the current calculated rating after an override is applied.
Risk Factors are automatically reopened when a recalculation causes the Risk Factor ratings to change. The allocated Assignee receives a notification email when this happens.
Changed the warning message that appeared whenever a user triggers a recalculation. The new message now only appears when the recalculation causes a risk factor to reopen, alerting the user that the risk factor needs to be reviewed and resubmitted.
Minor bug fixes.