This review and approval must be obtained before the Inventory can be submitted to anyone for review and approval
What is ACCIR assessment?
100
This must be in Complete status before the Risk Assessment can be submitted for review.
What is the Control Assessment?
100
This is the methodology that Regulatory Risk and Compliance Management uses for Control testing. It drives frequency and sample size.
What is ACIRR?
100
This is the level/element at which the applicable CFG Policy Standards are indicated?
What is the Control level or element?
100
Before the Control Assessor /Tester attaches testing documentation to the Control Assessment what step in the system must the Control Assessor/Tester take?
What is Save the Assessment?
200
These are the elements that can be added to the Inventory using the tabs at the top of the Inventory page.
What are the Risk, Regulatory Requirement, Control and Test?
200
This rating speaks to the design of the Control.
What is Adequacy?
200
This is critical in determining testing frequency and sample size for operational risks/controls.
What is Inherent Risk Rating?
200
Before submitting an Inventory approval these are indicators that required fields have not been completed.
What are red font and red disks?
200
If test results show multiple instances of exceptions and that the test results field is set to Fail this is the most likely Effectiveness rating.
What is Ineffective?
300
This is what the BU Inventory Editor must do from the RCSA main menu in order to make changes to an existing Active Inventory
What is Create New Inventory Version?
300
This is the place in ORC from which an assessment should be submitted for approval.
What is the Work List?
300
If this fails it means that there is at least a
reasonable likelihood that a material adverse financial, customer,reputational or regulatory impact would not be detected or prevented in a timely manner.
What is a Key Control?
300
This is what the BU Inventory Editor must do before deleting a Risk from an Inventory.
What is Detach from the Inventory Tree?
300
In the system this is what the Risk Assessor comments on first when completing the Risk Assessment.
What is the Overall Control Adequacy and Effectiveness?
400
This is the status of an Inventory that the Business Unit Inventory Reviewer has declined.
What is Returned Draft
400
This is the page of the Control Assessment on which I describe my sample selection methodology.
What is the Add Test Results Page?
400
Here is an example of this type of Control: Management review of a reconciliation and signoff on a hard copy document.
What is a manual Control?
400
This is what happens to new elements added in an Inventory when the BU Inventory Editor first saves the Inventory.
What are unique numbers for each element?
400
What must the Risk Assessor do in the system whenever the non financial impact exceeds the financial impact of a Risk?
What is complete the Override fields?
500
This is the Inventory’s status when it has been approved by the Business Unit Inventory Reviewer and all applicable Oversight Reviewers.
What is Active status
500
When this appears by a Control on the Complete/Edit Assessment page I know that I have completed the Assessment for that particular Control.
What is a green check mark?
500
In many cases this is the sample size for testing an automated Control.
What is a sample size of 1?
500
This is the main menu item to use when updating or editing an Inventory that is in Draft status.
What is Update Existing Inventory?
500
When the Risk Assessor finds that the Residual Risk is outside of Risk Appetite which ORC module would be used to monitor/report on the Risk that is outside of appetite?