Risk Library in a nutshell
Diligent provides common key risks disclosed across a given industry. Risks are curated and normalized from S&P 500 10-k reports, Basel, and more. Each industry-specific risk is populated with a full description, and can be easily imported to your company's risk profile.
How it works
You import risks from Risk Library in the Strategy app to populate your risk profile. Once you have imported risks, you can either use them as is, or customize details as needed.
For steps on importing risks, see Importing and adding risks.
Best practice is to review industry-specific risks first, and then move on to general risks that are applicable to your company. General risks do not have a description, but you can always create a description for the risk once you have imported it to Risk Profile.
Language support
Diligent currently offers Risk Library content in English only.
Updates to risks
Diligent regularly updates risks in Risk Library to ensure the content is relevant and current.
When you import a risk, the risk is copied from Risk Library to your risk profile. To prevent overwriting data, there is no link between the risk in Risk Library and the imported risk in your risk profile. If you want to import an updated risk from Risk Library, you need to re-import it into your risk profile.
Risk categories
Risks in Risk Library are organized by the following risk categories:
| Risk Category | Description |
|---|---|
| Compliance | risks related to legal penalties, financial losses, or material losses that may result if a company fails to act in accordance with regulations or best practices |
| Operational | risks associated with inadequate or failing procedures, systems, or policies |
| Strategic | risks related to potential losses or opportunities that may arise from business decision-making |
| Reporting | risks associated with providing accurate financial statements, metrics, estimations, and assumptions |
General and industry-specific risks
The following table describes the general and industry-specific risks available in Risk Library.
Some industry-specific risks are only available by subscribing to content suites offered through the Content & Intelligence Gallery, a central repository for industry-specific content that can be used in Diligent products.
For more information, see Content & Intelligence Gallery.
| Industry | Risk Categories | Description |
|---|---|---|
| Financial Services - Banks and Lending |
|
risks faced by financial institutions that provide banking and lending services to clients, including personal financial planning and private banking |
| General |
|
risks that can apply to all companies across different industries |
| Healthcare - Providers |
|
risks faced by companies that operate healthcare facilities, such as hospitals and dialysis centers, and provide services and care to patients |
| Manufacturing - Engineering & Technology |
|
risks faced by companies that specialize in manufacturing and engineering technological goods and services, including electronics and machinery |
