Индикаторы Key Level

индикаторы key level

Indicators

Agriculture & Rural Development

Aid Effectiveness

Grants, excluding technical cooperation (BoP, current US$)
Incidence of tuberculosis (per , people)
Income share held by lowest 20%
Maternal mortality ratio (modeled estimate, per , live births)
Mortality rate, under-5 (per 1, live births)
Net ODA received (% of GNI)
Net ODA received (% of central government expense)
Net ODA received (% of gross capital formation)
Net ODA received (% of imports of goods, services and primary income)
Net ODA received per capita (current US$)
Net migration
Net official development assistance received (current US$)
Poverty headcount ratio at $ a day ( PPP) (% of population)
Pregnant women receiving prenatal care (%)
Prevalence of HIV, total (% of population ages )
Prevalence of stunting, height for age (% of children under 5)
Primary completion rate, total (% of relevant age group)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Technical cooperation grants (BoP, current US$)

Climate Change

Access to electricity (% of population)
Agricultural irrigated land (% of total agricultural land)
Agricultural land (% of land area)
Agriculture, forestry, and fishing, value added (% of GDP)
Annual freshwater withdrawals, total (% of internal resources)
Annual freshwater withdrawals, total (billion cubic meters)
Arable land (% of land area)
CO2 emissions (kt)
CO2 emissions (metric tons per capita)
CPIA public sector management and institutions cluster average (1=low to 6=high)
Cereal yield (kg per hectare)
Ease of doing business rank (1=most business-friendly regulations)
Electric power consumption (kWh per capita)
Energy use (kg of oil equivalent per capita)
Forest area (% of land area)
Forest area (sq. km)
Land area where elevation is below 5 meters (% of total land area)
Methane emissions (kt of CO2 equivalent)
Mortality rate, under-5 (per 1, live births)
Nitrous oxide emissions (thousand metric tons of CO2 equivalent)
Population growth (annual %)
Population in urban agglomerations of more than 1 million (% of total population)
Population living in areas where elevation is below 5 meters (% of total population)
Population, total
Poverty headcount ratio at $ a day ( PPP) (% of population)
Prevalence of underweight, weight for age (% of children under 5)
Primary completion rate, total (% of relevant age group)
Renewable electricity output (% of total electricity output)
Renewable energy consumption (% of total final energy consumption)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Terrestrial and marine protected areas (% of total territorial area)
Total greenhouse gas emissions (kt of CO2 equivalent)
Urban population
Urban population (% of total population)

Economy & Growth

Adjusted net savings, including particulate emission damage (% of GNI)
Agriculture, forestry, and fishing, value added (% of GDP)
Central government debt, total (% of GDP)
Charges for the use of intellectual property, payments (BoP, current US$)
Charges for the use of intellectual property, receipts (BoP, current US$)
Current account balance (BoP, current US$)
Expense (% of GDP)
Exports of goods and services (% of GDP)
External debt stocks (% of GNI)
External debt stocks, total (DOD, current US$)
Foreign direct investment, net inflows (BoP, current US$)
GDP (current US$)
GDP growth (annual %)
GDP per capita (current US$)
GDP per capita growth (annual %)
GDP per capita, PPP (current international $)
GNI per capita, Atlas method (current US$)
GNI per capita, PPP (current international $)
GNI, Atlas method (current US$)
GNI, PPP (current international $)
Grants, excluding technical cooperation (BoP, current US$)
Gross capital formation (% of GDP)
Gross savings (% of GDP)
Imports of goods and services (% of GDP)
Industry (including construction), value added (% of GDP)
Inflation, GDP deflator (annual %)
Inflation, consumer prices (annual %)
Medium and high-tech manufacturing value added (% manufacturing value added)
Net ODA received (% of GNI)
Net ODA received per capita (current US$)
Net official development assistance received (current US$)
PPP conversion factor, GDP (LCU per international $)
Personal remittances, received (current US$)
Price level ratio of PPP conversion factor (GDP) to market exchange rate
Revenue, excluding grants (% of GDP)
Short-term debt (% of total reserves)
Technical cooperation grants (BoP, current US$)
Total debt service (% of exports of goods, services and primary income)
Total reserves (includes gold, current US$)

Education

Children out of school, primary, female
Children out of school, primary, male
Government expenditure on education, total (% of GDP)
Government expenditure on education, total (% of government expenditure)
Government expenditure per student, primary (% of GDP per capita)
Government expenditure per student, secondary (% of GDP per capita)
Government expenditure per student, tertiary (% of GDP per capita)
Gross intake ratio in first grade of primary education, female (% of relevant age group)
Gross intake ratio in first grade of primary education, male (% of relevant age group)
Labor force, female (% of total labor force)
Labor force, total
Literacy rate, adult female (% of females ages 15 and above)
Literacy rate, adult male (% of males ages 15 and above)
Literacy rate, adult total (% of people ages 15 and above)
Literacy rate, youth female (% of females ages )
Literacy rate, youth male (% of males ages )
Literacy rate, youth total (% of people ages )
Persistence to last grade of primary, female (% of cohort)
Persistence to last grade of primary, male (% of cohort)
Population ages (% of total population)
Population ages (% of total population)
Primary completion rate, female (% of relevant age group)
Primary completion rate, male (% of relevant age group)
Primary completion rate, total (% of relevant age group)
Progression to secondary school, female (%)
Progression to secondary school, male (%)
Pupil-teacher ratio, primary
Repeaters, primary, female (% of female enrollment)
Repeaters, primary, male (% of male enrollment)
School enrollment, preprimary (% gross)
School enrollment, primary (% gross)
School enrollment, primary (% net)
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
School enrollment, secondary (% gross)
School enrollment, secondary (% net)
School enrollment, tertiary (% gross)
Trained teachers in primary education (% of total teachers)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Unemployment, total (% of total labor force) (modeled ILO estimate)

Energy & Mining

Environment

Access to electricity (% of population)
Adjusted net savings, including particulate emission damage (% of GNI)
Agricultural land (% of land area)
Annual freshwater withdrawals, total (% of internal resources)
Annual freshwater withdrawals, total (billion cubic meters)
Arable land (% of land area)
Bird species, threatened
CO2 emissions (kt)
CO2 emissions (metric tons per capita)
Energy intensity level of primary energy (MJ/$ PPP GDP)
Fish species, threatened
Forest area (% of land area)
Forest area (sq. km)
Land area (sq. km)
Land area where elevation is below 5 meters (% of total land area)
Mammal species, threatened
Methane emissions (kt of CO2 equivalent)
Nitrous oxide emissions (thousand metric tons of CO2 equivalent)
PM air pollution, mean annual exposure (micrograms per cubic meter)
PM air pollution, population exposed to levels exceeding WHO guideline value (% of total)
Plant species (higher), threatened
Population living in areas where elevation is below 5 meters (% of total population)
Population living in slums (% of urban population)
Renewable electricity output (% of total electricity output)
Renewable energy consumption (% of total final energy consumption)
Renewable internal freshwater resources per capita (cubic meters)
Renewable internal freshwater resources, total (billion cubic meters)
Surface area (sq. km)
Terrestrial and marine protected areas (% of total territorial area)
Total greenhouse gas emissions (kt of CO2 equivalent)
Total natural resources rents (% of GDP)

External Debt

Current account balance (BoP, current US$)
External debt stocks (% of GNI)
External debt stocks, private nonguaranteed (PNG) (DOD, current US$)
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)
External debt stocks, short-term (DOD, current US$)
External debt stocks, total (DOD, current US$)
Foreign direct investment, net inflows (BoP, current US$)
Grants, excluding technical cooperation (BoP, current US$)
IBRD loans and IDA credits (DOD, current US$)
Net ODA received (% of GNI)
Net ODA received per capita (current US$)
Net official development assistance received (current US$)
Personal remittances, received (current US$)
Short-term debt (% of total reserves)
Technical cooperation grants (BoP, current US$)
Total debt service (% of exports of goods, services and primary income)
Total reserves (includes gold, current US$)
Use of IMF credit (DOD, current US$)

Financial Sector

Automated teller machines (ATMs) (per , adults)
Bank capital to assets ratio (%)
Bank nonperforming loans to total gross loans (%)
Broad money (% of GDP)
Broad money growth (annual %)
Commercial bank branches (per , adults)
Deposit interest rate (%)
Depth of credit information index (0=low to 8=high)
Domestic credit provided by financial sector (% of GDP)
Domestic credit to private sector (% of GDP)
Foreign direct investment, net inflows (BoP, current US$)
Inflation, consumer prices (annual %)
Interest rate spread (lending rate minus deposit rate, %)
International migrant stock, total
Lending interest rate (%)
Listed domestic companies, total
Market capitalization of listed domestic companies (% of GDP)
Market capitalization of listed domestic companies (current US$)
Net migration
Official exchange rate (LCU per US$, period average)
Personal remittances, received (current US$)
Real interest rate (%)
Risk premium on lending (lending rate minus treasury bill rate, %)
S&P Global Equity Indices (annual % change)
Stocks traded, total value (% of GDP)
Stocks traded, turnover ratio of domestic shares (%)
Strength of legal rights index (0=weak to 12=strong)
Total reserves (includes gold, current US$)

Gender

Adolescent fertility rate (births per 1, women ages )
Births attended by skilled health staff (% of total)
Children in employment, female (% of female children ages )
Children in employment, male (% of male children ages )
Children out of school, primary, female
Children out of school, primary, male
Contraceptive prevalence, any method (% of married women ages )
Contributing family workers, female (% of female employment) (modeled ILO estimate)
Contributing family workers, male (% of male employment) (modeled ILO estimate)
Employment in agriculture, female (% of female employment) (modeled ILO estimate)
Employment in agriculture, male (% of male employment) (modeled ILO estimate)
Employment in industry, female (% of female employment) (modeled ILO estimate)
Employment in industry, male (% of male employment) (modeled ILO estimate)
Employment in services, female (% of female employment) (modeled ILO estimate)
Employment in services, male (% of male employment) (modeled ILO estimate)
Fertility rate, total (births per woman)
Firms with female participation in ownership (% of firms)
Firms with female top manager (% of firms)
Gross intake ratio in first grade of primary education, female (% of relevant age group)
Gross intake ratio in first grade of primary education, male (% of relevant age group)
Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)
Labor force participation rate, male (% of male population ages 15+) (modeled ILO estimate)
Labor force, female (% of total labor force)
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Literacy rate, adult female (% of females ages 15 and above)
Literacy rate, adult male (% of males ages 15 and above)
Literacy rate, youth female (% of females ages )
Literacy rate, youth male (% of males ages )
Maternal mortality ratio (modeled estimate, per , live births)
Persistence to last grade of primary, female (% of cohort)
Persistence to last grade of primary, male (% of cohort)
Pregnant women receiving prenatal care (%)
Prevalence of HIV, female (% ages )
Prevalence of HIV, male (% ages )
Primary completion rate, female (% of relevant age group)
Primary completion rate, male (% of relevant age group)
Progression to secondary school, female (%)
Progression to secondary school, male (%)
Proportion of seats held by women in national parliaments (%)
Proportion of time spent on unpaid domestic and care work, female (% of 24 hour day)
Proportion of time spent on unpaid domestic and care work, male (% of 24 hour day)
Repeaters, primary, female (% of female enrollment)
Repeaters, primary, male (% of male enrollment)
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Teenage mothers (% of women ages who have had children or are currently pregnant)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Unemployment, youth female (% of female labor force ages ) (modeled ILO estimate)
Unemployment, youth male (% of male labor force ages ) (modeled ILO estimate)
Vulnerable employment, female (% of female employment) (modeled ILO estimate)
Vulnerable employment, male (% of male employment) (modeled ILO estimate)
Wage and salaried workers, female (% of female employment) (modeled ILO estimate)
Wage and salaried workers, male (% of male employment) (modeled ILO estimate)
Women making their own informed decisions regarding sexual relations, contraceptive use and reproductive health care (% of women age )

Health

Adolescent fertility rate (births per 1, women ages )
Age dependency ratio (% of working-age population)
Birth rate, crude (per 1, people)
Births attended by skilled health staff (% of total)
Cause of death, by communicable diseases and maternal, prenatal and nutrition conditions (% of total)
Cause of death, by injury (% of total)
Cause of death, by non-communicable diseases (% of total)
Completeness of birth registration (%)
Completeness of death registration with cause-of-death information (%)
Contraceptive prevalence, any method (% of married women ages )
Death rate, crude (per 1, people)
Diabetes prevalence (% of population ages 20 to 79)
Fertility rate, total (births per woman)
Hospital beds (per 1, people)
Immunization, DPT (% of children ages months)
Immunization, measles (% of children ages months)
Incidence of tuberculosis (per , people)
International migrant stock, total
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Life expectancy at birth, total (years)
Maternal mortality ratio (modeled estimate, per , live births)
Mortality caused by road traffic injury (per , population)
Mortality rate, infant (per 1, live births)
Mortality rate, neonatal (per 1, live births)
Mortality rate, under-5 (per 1, live births)
Net migration
Number of surgical procedures (per , population)
Population ages (% of total population)
Population ages (% of total population)
Population ages 65 and above (% of total population)
Population growth (annual %)
Population, female (% of total population)
Population, total
Pregnant women receiving prenatal care (%)
Prevalence of HIV, female (% ages )
Prevalence of HIV, male (% ages )
Prevalence of HIV, total (% of population ages )
Prevalence of anemia among children (% of children ages months)
Prevalence of overweight, weight for height (% of children under 5)
Prevalence of severe wasting, weight for height (% of children under 5)
Prevalence of stunting, height for age (% of children under 5)
Prevalence of undernourishment (% of population)
Prevalence of underweight, weight for age (% of children under 5)
Prevalence of wasting, weight for height (% of children under 5)
Refugee population by country or territory of asylum
Refugee population by country or territory of origin
Risk of catastrophic expenditure for surgical care (% of people at risk)
Risk of impoverishing expenditure for surgical care (% of people at risk)
Specialist surgical workforce (per , population)
Teenage mothers (% of women ages who have had children or are currently pregnant)
Unmet need for contraception (% of married women ages )

Infrastructure

Poverty

Private Sector

Public Sector

Science & Technology

Social Development

Adolescent fertility rate (births per 1, women ages )
Children in employment, female (% of female children ages )
Children in employment, male (% of male children ages )
Children in employment, total (% of children ages )
Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)
Labor force participation rate, male (% of male population ages 15+) (modeled ILO estimate)
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Prevalence of HIV, female (% ages )
Prevalence of HIV, male (% ages )
Proportion of seats held by women in national parliaments (%)
Refugee population by country or territory of asylum
Refugee population by country or territory of origin
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Vulnerable employment, female (% of female employment) (modeled ILO estimate)
Vulnerable employment, male (% of male employment) (modeled ILO estimate)

Social Protection & Labor

Children in employment, female (% of female children ages )
Children in employment, male (% of male children ages )
Children in employment, total (% of children ages )
Contributing family workers, female (% of female employment) (modeled ILO estimate)
Contributing family workers, male (% of male employment) (modeled ILO estimate)
Employment in agriculture, female (% of female employment) (modeled ILO estimate)
Employment in agriculture, male (% of male employment) (modeled ILO estimate)
Employment in industry, female (% of female employment) (modeled ILO estimate)
Employment in industry, male (% of male employment) (modeled ILO estimate)
Employment in services, female (% of female employment) (modeled ILO estimate)
Employment in services, male (% of male employment) (modeled ILO estimate)
Employment to population ratio, 15+, total (%) (modeled ILO estimate)
GDP per person employed (constant PPP $)
Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)
Labor force participation rate, male (% of male population ages 15+) (modeled ILO estimate)
Labor force, female (% of total labor force)
Labor force, total
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Unemployment, total (% of total labor force) (modeled ILO estimate)
Unemployment, youth female (% of female labor force ages ) (modeled ILO estimate)
Unemployment, youth male (% of male labor force ages ) (modeled ILO estimate)
Vulnerable employment, female (% of female employment) (modeled ILO estimate)
Vulnerable employment, male (% of male employment) (modeled ILO estimate)
Wage and salaried workers, female (% of female employment) (modeled ILO estimate)
Wage and salaried workers, male (% of male employment) (modeled ILO estimate)

Trade

Urban Development

How to Develop Key Risk Indicators (KRIs) to Fortify Your Business

Risk management, compliance, and internal audit professionals are well versed in finding ways to help organizations manage risk. From employing Enterprise Risk Management or ERM best practices, to responding to real time disruptions, risk professionals have many tools in their proverbial toolbox — and they need them. Risk identification and assessment processes need to be iterative and dynamic. Auditors need to revise risk assessments and modify risk responses and audit procedures throughout fast-changing and complex circumstances.

To help your company manage emerging threats and better prepare for the future, it’s vital that you and your team develop Key Risk Indicators (KRIs). This helps to safeguard your organization from the various types of risks that can sidetrack its plans, and even point to early warning signs of major disruptions. Safeguarding activities include:

Developing a thorough understanding of each potential risk exposure.
Documenting each risk, the impact, and likelihood of the risk occurring.
Closely monitoring performance via Key Performance Indicators.
Leveraging technology to assist this process.
Conducting periodic and regular reviews of KRIs as situations change and evolve.

What Is a Key Risk Indicator?

Key risk indicators are metrics that predict potential risks that can negatively impact businesses. They provide a way to quantify and monitor each risk. Think of them as change-related metrics that act as an early warning risk detection system to help companies effectively monitor, manage and mitigate risks. KRIs provide visibility into the weaknesses within your company’s risk and control environment and processes — and help to develop a risk assessment plan to fortify your business.

Key risk indicators are not limited by function or silo and can be applied to many business processes and risk factors, informing an organization’s overall risk management strategy.

The Primary Purpose of Key Risk Indicators

KRIs add value to overall operational risk management by playing an essential risk management role. KRIs predict potential risk — especially within high-risk areas and sectors. KRIs can help with:

Identifying any risk exposure relating to current or emerging risk trends.
Assessing and quantifying each risk and its potential impact.
Providing perspective through benchmarking.
Enabling timely and ongoing risk control and monitoring.
Enabling leaders and key personnel to receive alerts of potential risks in advance.
Providing time to develop the appropriate and effective risk responses and action plans.
Establishing objectivity within the risk management process.

In short, KRIs provide an early warning system” that allows companies to be prepared for risks.

Helping Companies Identify Emerging Risks

Emerging risks will continue to impact many audit risk areas. Industries will put an emphasis on developing or bolstering their risk assessment plans to focus on identifying emerging risks within their supply chains and internal controls — as well as looking at fraud or cybersecurity threats due to remote working conditions. Climate change, natural disasters, and geopolitical factors play another role in the emerging risk landscape.

As a powerful tool supporting operational risk management (ORM), KRIs help identify and define risks to ensure everyone understands the relationship between each KRI and potential risks. So, how do KRIs help companies identify these emerging risks? KRIs assist companies with:

Comparing business objectives and strategy to actual performance to isolate changes.
Measuring the effectiveness of processes or projects.
Demonstrating changes in the frequency or impact of a specific risk event.

Unlocking Operational Risk Management: Empower the Front Line to Effectively Manage Risk

How to Identify Key Risk Indicators

Clearly identifying KRIs involves developing a roadmap — such as the one outlined below — to establish the right set of KRIs for the organization. As with all risk management approaches, KRIs should be tailored to the risk profile of the company and take into account the major risks that face the business. This process will involve your risk management team, each business unit, and those responsible for internal audits.

Risk Management Responsibilities

Before identifying KRIs, your risk management team will need to create a framework and provide guidance by ensuring everyone is trained on the KRI selection process. The risk management team can also provide guidance around risk mitigation and action plans, as well as oversight around effective KRIs and similar initiatives.

Business Unit Responsibilities

Each business unit will be responsible for identifying their respective KRIs, setting the thresholds, monitoring each KRI state, and escalating variances against these to management, including:

Revisiting All ExistingMetrics: As things change, all current metrics must be thoroughly reviewed; frequency will depend on the industry, internal and external changes, strategic goals, and other factors, but this should be done at least annually. Conduct an organization-wide SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) to identify, analyze, and document the entire organization’s operational state and risk appetite.
Conducting a Risk Control Self-assessment: Another aspect of assessing risk appetite is revisiting each metric and conducting a full risk assessment. This should be carried out to determine precisely how each potential risk affects strategic plans, the likelihood of it happening, and where the impact may occur, among other things.
Tracking Changes in the Control Environment: It’s necessary to track changes in the control environment. Published by the Committee of Sponsoring Organization (COSO), the Internal Control — Integrated Framework ensures the standards, processes, and structures in organizations are in place to safeguard your organization. Changes to processes and controls may negatively impact the control environment’s effectiveness and increase risk exposure.
PrioritizingSignificant Risksand Isolating TheirRoot Causes: Once risks are identified, they will need to be prioritized — each risk will require a risk response, but they all can’t be a top priority. Conducting a root cause analysis will be essential to determine the importance and action to be taken.
Systematically Collecting All Data onKRIs: To be of value to the organization, data relating to KRIs should be collated methodically. Make sure not to select a large number of KRIs that are too difficult to monitor, manage, or trace. To be effective and deliver strategic value, all KRIs should be measurable, predictable, comparable, and informational.

Another part of identifying KRIs is setting thresholds or tolerances that enable flags to be raised when the situation moves outside of the normal. The thresholds should be based on industry norms or internal acceptance criteria. All thresholds should be carefully vetted by key stakeholders and approved by your company leadership or board of directors. Other tasks that need to be addressed when developing KRIs including determining who is responsible for:

Tracking and reporting KRIs
Establishing risk responses
Establishing or updating controls
Re-evaluating KRIs as circumstances change

Internal Audit Responsibilities

Internal audit will need to validate and provide assurances relating to the KRI process as well as build into the audit plan all the required inputs and record auditresults related to KRI audits. Internal audit will also need to identify, document, and report all exceptions or breaches to KRIs. Internal audit teams can play a major role in evaluating the suitability and relevance of KRIs, and it may be worthwhile for organizations to complete periodic KRI audits.

What Are Examples of Key Risk Indicators?

There are various types of quantitative and qualitative KRIs — for example, some are focused on financial, human resource, operational, technical, or other aspects of the business.

Quantitative KRIs

These focus on provable facts and numerical data based on findings from mathematical models, system outputs, and analysis methods.

Qualitative KRIs

These types of KRIs focus on predicting probability-based outcomes to support things like sensitivity analysis.

Depending on your business or industry’s nature, the use of quantitative over qualitative KRIs may be more relevant. Some KRIs may also rank higher on the priority list, be of more importance than others, and be subject to change based on internal or external environmental factors. Here are examples of top types of KRIs used across a range of industries and sectors.

Financial KRIs

Quantitative financial KRIs may be of greater significance to commercial or retail banks, asset management or firms, or Certified Public Accounting (CPA) firms. Some examples of financial KRIs pointing to external environmental factors might include ones that measure an economic downturn or regulatory changes. Internal factors might be changes to strategic goals, budget limitations, or acquisitions.

Human Resource KRIs

Staffing and recruitment firms and human resource departments are likely to be interested in using quantitative or qualitative people-based KRIs. High staff turnover, low staff satisfaction, labor shortages, or low recruiting conversion rates are some examples of human resource KRIs.

Operational KRIs

Operational KRIs could measure many things, from failed internal processes to ineffective internal controls. These types of KRIs can be typically developed in all industries. Factors impacting operational KRIs might center around process inefficiencies, leadership changes, or changes to strategic goals.

Technological KRIs

System failures, security breaches, and denial of service incidents are all examples of events measured by technology-based KRIs. These types of KRIs also impact all industries but can be of greater importance to a technology service provider or a firm that relies on online business portals. Technological risk factors might include increased operational complexity, security issues, changes to protocols, or regulations.

The Difference Between KRI and KPI: Are They Related?

It’s important to understand the difference between KRIs and KPIs. While they are related, they are different. They work together to provide companies and their leaders with the metrics needed to fortify their businesses. Both KPIs and KRIs are needed — they work hand-in-hand to create a complete picture for effective and timely decision-making.

KPIs ** ** look backward and focus on how well companies are achieving their goals. KPIs identify and prioritize a company’s key goals as well as monitor performance against those goals.

KRIs are predictive. They assess and manage potential risks to goals. They focus on the likelihood of companies achieving their goals based on potential risk factors. KRIs are linked to an organization’s risk posture and strategic priorities, and identify current and emerging risks related to each key goal. KRIs also monitor risks and send an early warning when the business is at risk of not achieving its goals.

How to Develop Key Risk Indicators to Fortify Your Business?

Gauging performance and ensuring goals and milestones are met is one of the key aspects for which any leadership team is responsible. When looking at their dashboard each day, leaders across the business expect to see the information that tells them the current state of things — and that hopefully, they are on track — and this includes KRIs. When KRIs fall outside of thresholds, they alert management there’s increased potential for risk exposure — but KRIs are only useful when they’re developed using this methodical yet simple approach.

Identify Relevant Risks

Prior to establishing KRIs, it is essential first to understand your company’s goals and any vulnerabilities that can cause risk points. Effective enterprise risk management relies on identifying the most significant risks — these are the ones that will have the highest impact, the highest chance of occurring — or are the most likely to be outside of your company’s control.

Establish Your KRIs

If your company has already established Key Performance Indicators (KPIs), these can create KRIs. Why? The KPIs will already make sense and provide the underlying information — this can reduce the time spent on monitoring and the needed resources. Keep in mind: the KPIs being transferred to KRIs must also be relevant, timely, measurable, and make sense. If the KPIs are out of date or cover a period of time that is no longer applicable, then they shouldn’t be used.

Establish a Solid Process

Since KRIs are developed by each department, a solid process for creating, assessing, monitoring, and reporting them to the appropriate individuals will need to be established. The following best practices can ensure things go smoothly.

When identifying KRIs, involve all relevant stakeholders from the start.
Gain stakeholder buy-in so everyone is on the same page and vested in the success.
Ensure all information about KRIs and the process are accessible to all stakeholders.
Create a central point of contact to whom stakeholders can go to get support.
Keep stakeholders updated in a timely manner as things change.

Following a methodical approach like the one above can help streamline the process of developing Key Risk Indicators. Using automation to aggregate KRIs and present them in a clear dashboard can also be a game-changer.

Potential Challenges of Developing Quantifiable, Good KRIs

Creating, monitoring, and reporting KRIs sounds pretty straightforward, but it’s a bit more involved than one might think. Many businesses still struggle with common mistakes when establishing KRIs for these reasons:

Risks relating to the actual development of a KRI itself continue to go unaddressed. It requires conscious effort, resources, and executive and stakeholder buy-in.
There are also issues with access to credible and objective data — especially quantitative data.
The available data can often be unnecessarily complex and difficult to decipher and use.

Being aware of these common challenges can help you design a KRI development approach that will anticipate data and process-related issues.

How to Use and Monitor KRIs Effectively

Key risk indicators should be linked to a KPI and a strategic goal — and they should be prioritized to keep the focus on key risks. It’s also vital for KRIs to be continually monitored and tracked regularly — although the frequency will depend on the type of KRI.

Risk management and audit professionals play a pivotal role in ensuring the right metrics are in place to reduce risk exposure. Effectively using KRIs also relies on having the right risk management platform in place. AuditBoard can assist in monitoring your company’s KRIs with integrated risk management software — get started with RiskOversight today.

Frequently Asked Questions About Key Risk Indicators (KRIs)

What is a Key Risk Indicator?

Key risk indicators are metrics that predict potential risks that can negatively impact businesses.

What are the different categories of Key Risk Indicators?

There are many categories of KRIs, including qualitative, quantitative, financial, operational, and technological KRIs, among others.

What’s the difference between KRI and KPI?

Key Performance Indicators (KPIs) look to the past to compare and measure current performance while also setting organizational goals. Key risk indicators (KRIs) are forward looking and try to anticipate, prevent, and/or mitigate risk events.

What are the potential challenges of developing KRIs?

Some challenges involved with developing KRIs is the collaboration and buy-in needed to establish effective KRIs, the complexity of data associated with measuring KRIs, and the lack of usable data within an organization to measure KRIs.

Key level order block

The key level order block indicator automatically draws order-blocks for you on the chart. The indicator compliments any strategy and can also be used as an independent tool. It can work with smart money concepts, harmonic patterns, supply and demand, flag patterns, Quasimodo strategy and many more.

Advantages

The key level order block DOES NOT RE-PAINT, giving you confidence when a signal appears and also helps when looking back.

The key level order block includes an on/off button on the chart to easily keep the charts clean after analysis by just one click.

The key level order block works on all markets from stocks, indices to currency pairs aswell as crypto-currency.

Trading is about taking high probability setups and the key level order block will give you an edge by providing an accurate point of interest (POI) and extra confluence to your setups no matter what strategy you use.

Since the indicator automatically draws the order blocks for you, it gives a more mechanical approach to your analysis removing the emotion and subjectivity involved when personally drawing them.

Recommendation

For best and most accurate results use the 4Hr and Daily timeframe or higher or as a confluence with another strategy. The screenshots and video will show examples of how it can be used along side different trading strategies.

N.B : For a limited time only, if you have purchased 2 or more Key level indicators leave a rating and a review on them, and get a Key level wedge dashboard for free. (dashboard only works when you have downloaded the Key level wedge indicator, but you can keep it and later use it if you happen to download the wedge indicator in the future)

I highly recommend also purchasing the key level breaker block indicator to use alongside, the advantage is when some order blocks fail, they then turn into breaker blocks which this indicator automatically draws, which might give you a second chance to recover a lost trade. The key level wedge will also complement as it works as an extra confirmation entry.

nest...

28661 28662 28663 28664 28665