Define a threshold amount for the risk event response template
Define a threshold limit for assigning risk event approvers. A threshold limit is defined to determine if a risk event needs an approver.
Before you begin
Role required: sn_risk.manager and sn_risk.admin
About this task
Based on the risk loss amount, you can decide whether approvers are required for the risk events losses. For example, for any risk event that results in a loss of $1000 or less, an approver isn’t needed. But for any amount beyond $1000, the risk event must be evaluated and an approver is automatically assigned. There can be multiple levels of approvals depending on your defined thresholds. For a better understanding, see the following image.
Risk event thresholds for approval
In the previous example, the following rules are applied.
- If the loss is between $0-$100, approval isn’t required.
- If the loss is between $101 – $200, approval is required and approval goes to Caitlin.
- If the loss is over $201, approval is required from both Caitlin and the Risk manager.
Procedure
Navigate to All > Risk Events > Administration > Response Templates.
Select and open the risk event response template for which you want to add the financial threshold limit.
In the Financial Impact Approval Thresholds related list, select New.
On the form, fill in the fields.
For a description of the field values on the Financial Impact Approval Thresholds form, see Financial Impact Approval Thresholds.
Select Submit.
Result
The response template is updated with the threshold limit and approver details.
- Financial Impact Approval Thresholds
Use the Financial Impact Approval Thresholds form to define monetary thresholds that trigger approval requirements for risk events and to configure how approvers are determined when those thresholds are met.
Parent Topic:Use Risk Events