The document outlines the key components of Risk and Control Self-Assessment (RCSA) as part of an organization's risk management framework. It emphasizes identifying and documenting risks, evaluating the effectiveness of controls, and prioritizing risks based on their impact. Additionally, it highlights the importance of ongoing monitoring, action planning, and fostering a culture of continuous improvement to enhance risk management capabilities.

1. RTCompliance
UNDERSTANDING
RCSA

2. Risk and Control Self-Assessment (RCSA) is a vital
component of an organization's risk management
framework, allowing for the identification and assessment
of internal risks and controls
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3. 7 Key Components
01
Identify and document potential risks across
various business activities, including operational,
financial, compliance, and strategic risks
ESG
Risk Identification
02
Evaluate the effectiveness of existing controls in
mitigating identified risks and ensure alignment
with organizational objectives
Control Assessment
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4. Control Testing
04
Risk Assessment
03
Assess the severity and likelihood of
identified risks to prioritize them based
on their potential impact on the
organization's objectives and operations
Perform testing and validation of
controls to ensure they are operating
effectively and providing adequate
mitigation of identified risks
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5. 05
Establish processes for ongoing
monitoring of risks and controls,
including regular reporting to
senior management
06
Risk Monitoring
Action Planning
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Develop action plans to address
any gaps or weaknesses
identified in control
effectiveness and risk mitigation

6. 07
Foster a culture of continuous
improvement by regularly
reviewing and enhancing the
RCSA process based on
lessons learned
Continuous
Improvement
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7. Conclusion
By understanding these crucial elements of RCSA,
organizations can enhance their risk management
capabilities and ensure robust control over their
operational risks
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8. THANK
YOU
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