Corporate risk management is the systematic process of identifying the risks facing the company, assessing their impact and likelihood, and setting plans to deal with them before they become real crises that cost the company far more than if they had been addressed early. In the fast-changing Saudi business environment, corporate risk management has become a core pillar of governance and a requirement expected equally by audit committees, boards and regulators — not an extra luxury postponed when time is short.
The HWKM platform provides a comprehensive live electronic risk register — not a static Excel sheet updated once a quarter, but a tool that keeps all of the company's risks under continuous follow-up and linked directly to whoever has the authority to decide on them immediately.
The challenge companies face
What threatens a company most is not the risks it knows about and plans for, but the risks it does not see or forgets after first recording them. When risks are managed through separate Excel sheets that each department keeps for itself, the connection between risks is lost, and it becomes hard for senior management and the audit committee to form a comprehensive picture of treatment priorities.
The absence of electronic follow-up on the status of each treatment plan means many risks are recorded and then forgotten, with no actual closure or periodic status update.
How HWKM helps
The HWKM risk register provides live monitoring of all the company's risks, automatically ranked by priority based on impact and likelihood. Every risk is linked to a clear treatment plan that is followed electronically step by step until it is actually closed — not just recorded.
The risk register integrates with the rest of the governance system in the platform, so the audit committee and the board can review risk priorities within the same system used to manage meetings and decisions, without having to move between scattered tools.
Key features
- A live electronic risk register covering all of the company's departments
- Automatic ranking of risks by priority (impact and likelihood)
- Electronic follow-up of treatment plans until every risk is actually closed
- Direct integration with audit committee and board meetings
- Ready risk reports for the board and the audit committee
Who is this solution for?
Frequently asked questions
Can risks be linked to treatment plans that can be tracked?
Yes, every risk in the HWKM register is linked to a clear treatment plan that is followed electronically until it is actually closed.
How are risks ranked by priority?
The system ranks risks automatically based on the assessment of impact and likelihood, so the highest-priority risks are clearly visible to decision-makers.
Does the risk register integrate with audit committee meetings?
Yes, the risk register is part of the same platform used to manage board and committee meetings, including the audit committee.
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