The consolidation problem
Leadership needs one view before the meeting starts
Business units often keep useful registers for their own work, but use different categories, scoring language and review cycles. The problem is not that those teams lack risk information. It is that the information cannot be combined quickly enough for an enterprise decision.
The platform lets each register retain relevant ownership and access while common fields support comparison, appetite oversight and reporting across the organization.
- Common enterprise categories
- Local register context
- Visible owners and review dates
- Current consolidated reporting
A working ERM cycle
Move from local ownership to enterprise action
A practical enterprise risk management system should support the decisions that happen between reporting cycles.
A working ERM cycle
Map
Agree the categories, ratings and ownership fields required for enterprise reporting, then map each source register to them.
A working ERM cycle
Review
Let owners update exposure, controls and treatment in the context of their own business area.
A working ERM cycle
Escalate
Bring appetite exceptions, significant movement and overdue treatment to the right level of attention.
A working ERM cycle
Report
Use the same current records for portfolio, executive and board reporting instead of rebuilding a presentation from spreadsheets.
A representative journey
Follow one risk across business boundaries
Consider an important service that depends on technology and a third party. The business register records the service impact, the technology team maintains the relevant control context, and the supplier owner tracks remediation. Parapet keeps those records related without making every team use the same working view.
That is the useful test for ERM software: can a leader see the combined exposure and still reach the current owner, control and action behind it?
- Risks linked to objectives and services
- Controls reused across registers
- Actions retained with accountable owners
- Item-level access where information is sensitive
Questions answered
Frequently asked questions
Can business units keep their own risk registers?
Yes. Teams can keep relevant fields, views and access while common data supports enterprise comparison and reporting.
Is Parapet an ERM system or an enterprise risk management platform?
Both descriptions are used by buyers. The important point is that Parapet supports the operating work behind enterprise risk management, including registers, controls, issues, treatment, reporting and secure participation.
Do we need to move every register at once?
No. A common approach is to begin with one enterprise or IT risk register, validate the taxonomy and reporting model, and then extend it to other areas.