Most CFOs agree a real-time financial data model is critical to enable better business decisions, forecasting models and data accuracy.
Less than half of organizations conduct risk identification quarterly or more often.
Nearly one in 4 CFOs agree real-time insights are the highest priority for their finance function.
Annual Risk for Example Corp.
The probable annualized loss for an organization.
Technical and Financial Correlations
A score alone lacks context related to business impact. FAIR helps fill the gaps in other risk management frameworks by providing a proven and standard risk-quantification methodology that can be leveraged with other frameworks.
Designate a FAIR evangelist
Not everyone in the TPRM program will need to be FAIR-fluent. Designate one member to take the time to learn and train, and then share their knowledge with the rest of the team.
Find support from other departments
Make sure everyone is on board. Identity folks within your organization and share your roadmap for integrating FAIR into your TPRM to ensure board support at all levels of management.
Develop a clear value proposition
Gaining support from key stakeholders is essential. Look for initial projects that will result in quick, meaningful wins to prove the value of FAIR to your organizations decision makers.
Prioritize training and education
FAIR evangelists should familiarize themselves with essential books, blogs and other critical resources. The challenge of certain biases including heat maps may also need to be addressed.