risk assessment template

Risk Assessment Template

Risk assessments are hard enough as it is but fear not, here we have a handy risk assessment template to help you with your company risk assessments.

The following template is exactly what we have inside the RiskMate risk management software and is an example of a live risk.

An explanation of each field on the template is listed below the following image.

risk management template example

Risk Assessment Template Fields With Example Information

Assessment Date
12/08/2016 – This is the date that you actually did the risk assessment.
Title
Exchange Rate – The title of the assessment.
Corporate Objective
To maintain financial viability – Which corporate objective does this assessment fall under?
Principal Inherent Risk Description
Impact on foreign transactions – Describe the risk.
Category
Finance – Group your risk assessments into categories for easier management.
Department
Finance – Group your risks into departments for easier management.
Business Unit
Accounting – Group your departments into business units for greater reporting.
Inherent Impact
Critical – The impact this would have on the business.
Inherent Likelihood
Almost Certain – How likely this is to happen.
Inherent Risk Value
£0 – The value on the business that this risk has.
Inherent Rating
Extreme – The rating taken from the risk matrix.
Policies, Procedures & Controls
You can assign company policies, procedures or controls to the risk.
Key Controls In Place
Treasury management review & financial advisers – The controls you currently have in place.
Residual Impact
Critical – The impact this would have on the business after the controls are in place.
Residual Likelihood
Almost Certain – How likely this is to happen with the current controls in place.
Residual Risk Value
£0 – The value on the business this risk has with the current controls in place.
Residual Rating
Extreme – The rating taken from the risk matrix.
Formal Review Frequency
Annual – How often the risk assessment should be reviewed.
Formal Review Date
12/08/2017 – The next review date.
Risk Owner
Robin Pritchard – The person responsible for this risk assessment.
Principal Assurances
Any assurances you want to assign to the assessment (up to 3).
Gaps, Action, Responsibility & Time-scale
Any gaps or actions etc that you need to mention.
Independent Assurance
Internal audit – Any independent assurance.