Release Date: February 25th, 2022

WHAT’S NEW?

Portfolio reporting is now available. Portfolios are executive-level reports that enable the aggregation of risk scenarios associated with key business initiatives. Effectively communicate risk to your business owners, Board, or risk committees, by showing them the aggregated loss exposure associated with your various business units, or with your strategic business initiatives.

Create a custom executive dashboard by creating a portfolio encompassing one or more groupings of scenarios (topics). Topics can be assigned to scenarios across all groups in your RiskLens instance, allowing for enterprise-level aggregation and reporting. The topics can be reviewed and communicated on their own or viewed within the greater context of other topics included within the portfolio. Use portfolios and topics to zero in on areas of the business with the biggest loss exposure, assess which concentrations of loss are driving your risk the most, or dive deeper into specific scenarios of interest.

PORTFOLIOS & TOPICS

When an organization is entitled to Portfolios within the RiskLens application, the Portfolio navigation item is available to select and users with the Manage Portfolios and Topics permission can create and manage both Portfolios and Topics.

Create Portfolios

Selecting Create Portfolio opens the portfolio creation side sheet. A unique Portfolio name is required, and a description can be entered.

NOTE – user must have the Manage Portfolios and Topics permission to create portfolios.

Manage Portfolios

Existing portfolios can be viewed, edited, or deleted. To view a portfolio, select the name of the portfolio from the Portfolios and Topics list and details for the portfolio will open in a side sheet.

To edit or delete a portfolio, use the menu options for the portfolio on the Portfolio and Topics list page.

Deleting a portfolio also deletes any associated topics for that portfolio. This also deletes the portfolio report.

NOTE – user must have the Manage Portfolios and Topics permission to edit and delete portfolios.

Create Topics

Once a portfolio has been created, topics can be created as part of the portfolio. Topics can be created from the Save and Create Topic option (when creating a portfolio), the Create Topic option when viewing an existing portfolio, or from the portfolio menu option from the Portfolios and Topics page.

NOTE – user must have the Manage Portfolios and Topics permission to create topics.

Manage Topics

Existing topics can be viewed, edited, or deleted. To view a topic, select the portfolio's name from the Portfolios and Topic list. Details for the portfolio will open in a side sheet, including the topics for that portfolio.

To edit or delete a topic, use the menu options for the topic on the Portfolio and Topics list page, or from the view portfolio side sheet.

Deleting a topic also removes any associated scenarios for that topic. This also deletes the topic report

NOTE – user must have the Manage Portfolios and Topics permission to edit or delete topics.

SCENARIOS

Association to Topics

After at least one portfolio and one topic exists, topics can be associated with scenarios that users want to include in reporting. When viewing scenario details, there is an option to Add Topics:

Selecting Add Topics opens a side sheet of available topics (and the portfolios they are associated with). Users can select which topics they want to associate with the scenario.

NOTE – Multiple topics can be associated with a single scenario so long as they are each from a different portfolio. Only one topic per portfolio can be assigned to a given scenario. Once the topics are selected and the side sheet is closed, the scenario will reflect the associated topics.

NOTE – user must have the Manage Portfolios and Topics permission to add topics to a scenario.

PORTFOLIO & TOPIC REPORTS

View Portfolio Report

To view a portfolio report, use the menu options for the portfolio on the Portfolio and Topics list page, or from the view portfolio side sheet.

NOTE – user must have the Manage Portfolios and Topics permission or Manage Portfolio Report (Executive User) to view the portfolio report.

View Topic Report

To view a topic report, use the menu options for the topic on the Portfolio and Topics list page, or from the view portfolio side sheet.

NOTE – user must have the Manage Portfolios and Topics permission or Manage Portfolio Report (Executive User) to view the topic report.

Report Details

A topic report is an aggregation of all scenarios that are associated with that topic (NOTE – only scenarios in a Current version state are included in the aggregation results).

A portfolio report is an aggregation of all topics that are associated with that portfolio. If a portfolio has multiple topics associated, then there will be multiple topic reports linked to the portfolio report. These reports are kept coordinated and when a portfolio report is run, ALL topic reports are also run. NOTE – user must have the Manage Portfolios and Topics permission or Manage Portfolio Report (Executive User) to manage either the portfolio or topic reports.

Talking Points

Talking Points related to the specific portfolio (or topic) report can be added and edited as needed. When viewing the report, select Edit Report and add content, including a custom title and details.

Run Report

Running the report aggregates the data from the associated scenarios and topics. If the report has not been previously run, a Report has not been run message will be displayed at the top of the report.

If the report has previously been run and no changes have been made to the underlying data that would change the content of the reports, the Run Report button will be disabled. A tool tip will also provide some additional information.

If the underlying data has changed and the report should be run to view the most current results, the Run Report button will be enabled.

Report Options

Users can customize how the data is displayed in the report including the Risk Threshold as well as if the report will show results based on Minimum, Maximum, Most Likely, Average, Top (90th), or Bottom (10th) Percentile. The Report Options default to $1M for the Risk Threshold and Average for the Report By option. Changing the values in the Report Options immediately updates the report results.

Annualized Loss Exceedance (ALE)

The Annualized Loss Exceedance Graph shows the aggregate annualized risk for the Portfolio or Topic as well as a breakdown for each topic (in the Portfolio report) or scenario (in the Topic Report).

The graph will display how many topics (or scenarios) are included in the report vs. how many topics (or scenarios) exist that could be included in an updated report.

Common reasons for a topic (or scenario) not included in the report results could be:

• The topic (or scenario) was created after the report was run

• The scenario is in draft

• The scenario was changed to current after the report was run

Users can choose which topics (or scenarios) they wish to view in the graph by selecting the topics (or scenarios) from the graph filter. The filter will include topics (or scenarios) that are included in the report as well as others that exist and could be included in an updated report.

Concentrations of Loss

The concentrations of loss section of the report provide insight into the total estimated loss if all events in the report materialize, categorized by loss type.

• Direct Losses - unavoidable losses incurred during the event and investigation and containment efforts.

• Indirect Losses - additional potential losses, driven by event severity and impact to external stakeholders.

Top 5 Individual Scenario Metrics

The portfolio (and topic) report will provide metrics for the top five individual scenarios by Per Event Loss Magnitude and Annualized Loss Exposure.

Remediation and Additional Information

Remediation and Additional Information related to the specific portfolio (or topic) report can be added and edited as needed. When viewing the report, select Edit Report, and content can be added to the report.

SECURITY & PERMISSIONS

Permissions for Portfolios and Executive User

To support the new Portfolio Reporting feature, two new permissions have been created that allow for flexibility in assigning users the correct access.

Manage Portfolios and Topics – part of the Risk Analyst Admin role, this permission provides users with the ability to:

• Create, Edit and Delete Portfolios

• Create, Edit and Delete Topics

• Associate Topics to Scenarios

• View, Run and Manage Portfolio and Topic Reports

Manage Portfolio Reports – part of the new Executive User role, this permission provides users with the ability to:

• View, Run and Manage Portfolio and Topic Reports

If a user has only the Executive User role (and not the Manage Portfolio and Topics permission), buttons will be disabled for functions they do not have access to complete.

KNOWN ISSUES AND EXCLUSIONS

• The minimum supported browser resolution is 1440 px width. Some application content and functionality are not visible or functional at smaller resolutions.

• Some asset and scenario workshop keyboard control options do not function as expected in IE and Edge browsers.

• There is a known issue when the session timeout is set to 15 minutes because of a limitation with Microsoft.NET Framework. This framework dictates that the session cookie cannot be updated during the first half of the user’s session. When a user is inactive, the platform’s warning popup displays when there are 10 minutes left in the session. Since a user cannot update the cookie within the first half of the session (before the halfway mark at 7:30 of 15:00), if the user clicks Stay Logged In in those first 2.5 minutes, their session will not reset to 15 minutes and will time out at the end of the original 15 minutes.