| 5 Risk management framework A comprehensive solution for efficient risk management and compliance monitoring trust's risk management framework, which includes ‘Risk and control management’ and ‘compliance monitoring programme’ features, is an essential tool for advice firms looking to strengthen their compliance framework. It combines risk identification, controls, monitoring, and reporting into one intuitive platform, making risk management and monitoring both efficient and effective. The firms I work with have found the framework invaluable, helping them to evidence their systems and controls. Whether generating reports for senior management or demonstrating how risks are being mitigated under the Consumer Duty, it has simplified their processes while showcasing their commitment to sound governance and good consumer outcomes. Rebecca Ferrier, Business risk consultant trust's risk management framework equips firms with the tools needed to implement and maintain a robust risk management system. It enables senior management teams to systematically identify, evaluate, and mitigate risks of regulatory concern, while providing clear evidence of monitoring and oversight. By combining a risk and control framework and compliance monitoring programme into a single solution, the module supports firms in evaluating the probability and impact of risks, assigning appropriate controls, and scheduling ongoing monitoring activities. The module offers firms access to over 70 predefined risks and controls and monitoring activities. Users can also create bespoke risks, controls and monitoring activities tailored to their specific needs. The system has been developed by threesixty's experienced business risk consultants drawing on their expertise in dealing with a wide range of regulated firms. Its powerful reporting capabilities enable firms to provide comprehensive reports for senior management meetings, the FCA, PI providers or potential investors. Identify risks Evidence compliance Evidence compliance Identify controls Record monitoring activity Risk register Compliance monitoring Monitor controls
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