What is Loss and Incident Management?
Loss and Incident Management is used to document and analyze losses and their triggers. In doing so, incidents are defined as the triggers of losses and losses as the results of incidents.
Loss and Incident Management is related to Risk Management:
Notification of the person responsible for the risk about risks and risk assessments needing to be checked
Risk managers have Read privileges for incidents and losses.
The general tasks of Loss and Incident Management include:
Offset actual accrued damages/losses against the risk capital currently available.
Check and improve risk assessments based on accrued damages and damages that almost occurred (near loss).
Define new risks based on the knowledge obtained.
Flag losses that are adjusted by provisions.
Inform management when thresholds are exceeded.
Inform risk owners when a loss is assigned to a risk.
Credit default.
Take different loss types (direct, indirect, near loss, gain) into account.
Allocate losses to affected accounts to show that losses are also reflected on the balance sheet.
Allocate losses to affected application systems, processes, and organizational areas.
The incident and loss data is not modeled in ARIS, but is created in ARIS Risk and Compliance only.
For detailed information on modeling guidelines, refer to the Modeling Conventions.