Properties installed with Advanced Risk

  • Release version: Zurich
  • Updated July 31, 2025
  • 3 minutes to read
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    Summary of Properties installed with Advanced Risk

    This document details the configurable properties introduced with the activation of the GRC: Advanced Risk plugin in ServiceNow Zurich release. These properties allow customers to tailor risk management capabilities, including risk hierarchy, scoring, risk events, and advanced risk assessments, to better align with organizational needs and regulatory requirements.

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    Advanced Risk Properties

    Accessible via the System Properties page (sysproperties.list), these properties enable customers to:

    • Set the maximum number of risk hierarchy levels to control the depth of risk categorization (default 5).
    • Configure risk rating calculation by choosing how the calculated risk score compares to maximum, minimum, or average ALE (Annualized Loss Expectancy), primarily for classic risk scoring.
    • Define risk tolerance comparison methods based on average, maximum, minimum, or sum values.
    • Enable GRC enterprise risk licensing features to unlock additional advanced risk functionalities (disabled by default).

    Risk Event Properties

    Found under All > Risk Events > Administration > Properties, these settings help customize risk event handling and reporting, including:

    • Machine learning solution for predicting similar risk events to enhance risk event identification.
    • Enable Basel categorization and reports, important for banking sector customers (disabled by default).
    • Define currency conversion date configuration for risk event entries, allowing selection from multiple event-related dates or a custom date to improve financial accuracy in multi-currency environments.
    • Make risk event to risk relationship mandatory to ensure each event is linked to risks (optional).
    • Customize rapid recovery classification threshold days (default 5 days).
    • Show ORX external events, enabling access to global operational risk loss data from ORX, beneficial for banking customers (disabled by default).
    • Specify the number of years of risk event data shown in reports, defaulting to two years, to control report data scope.

    Advanced Risk Assessment Properties

    Located at All > Advanced Risk Assessments > Administration > Properties, these properties allow customers to:

    • Migrate from legacy risk lifecycle to Advanced Risk Assessments.
    • Enable integration with Project Portfolio Management (PPM) for project risk assessments, available only if PPM is installed and enabled by users with appropriate roles.
    • Configure metric approval workflows for risk metrics and definitions when the sngrcappr plugin is active. Customers can select:
      • Simple approval flow that allows approvers to be designated directly on metric forms.
      • Advanced approval flow that delegates approval setup to the GRC: Approver Configurator, supporting multi-level approvals and condition-based workflows.

    Practical Application for ServiceNow Customers

    By leveraging these properties, ServiceNow customers can customize their enterprise risk management processes to match organizational structures, regulatory standards, and business objectives. Specifically, customers in regulated industries such as banking can enable Basel attributes and ORX event integration to meet compliance needs. Advanced risk assessment settings support migration and integration with project risk management, enhancing risk visibility and control across portfolios. Proper configuration of approval workflows ensures governance and accountability in metric management.

    Properties are added with activation of GRC: Advanced Risk. There are also properties that are available for the various capabilities such as risk events and advanced risk assessments.

    Properties for Advanced Risk

    All the properties for Advanced Risk, are listed on the System Properties page. To access the System Properties page, in the filter navigator, type sys_properties.list.

    Table 1. Advanced risk plugin properties
    Property Description
    Maximum number of levels for risk hierarchy [sn_risk_advanced.risk_hierarchy_max_levels]

    Set the maximum number of levels of risk hierarchy.

    • Type: Integer
    • Default value: 5
    Configure risk rating

    [sn_risk_advanced.risk_rating_config]

    		 Compare calculated risk score with either of choices Maximum calculated ALE, Minimum calculated ALE, Average calculated ALE.
    • Type: choice list
    • Default value: avg
    Note:
    This property works with classic risk scoring.
    Compare risk tolerance

    [sn_risk_advanced.risk_tolerance]

    		 Compare risk tolerance based on either of the choice Average, Maximum, Minimum, Sum.
    • Type: choice list
    • Default value: sum
    Enable the GRC enterprise risk licensing features [sn_risk_advanced.enable_irm_advanced_risk_enterprise] This property enables the GRC enterprise risk licensing features.
    • Type: true or false
    • Default value: false

    Properties for Risk Events

    To access the risk event properties, navigate to All > Risk Events > Administration > Properties.

    Table 2. Risk event properties
    Property Description
    Machine learning solution for predicting similar risk events [ml_sn_sn_grc_pred_intel_global_similar_risk_events] Solution definition for predicting similar risk events.
    Show Basel attributes and reports [sn_risk_advanced.show_basel_attr_reports] Set this property to true if you want to enable the Basel categorization of risk events. This property is useful for customers in the banking domain.
    • Type: True or false
    • Default value: false
    Define risk event currency conversion configuration [sn_risk_advanced.risk_event_currency_conversion_date_config] Property to define currency conversion dates for the risk event entries. You can select specific dates for currency conversion rather than relying solely on the date of impact to calculate the net loss. The options are as follows:
    • Risk event entry date
    • First loss entry date
    • Last loss entry date
    • First recovery entry date
    • Last recovery entry date
    • Custom date
    Note:
    You can also override the defined currency conversion dates in the risk response template configuration. These changes apply to both new and ongoing risk event workflows.
    Make risk event to risk relationship mandatory [sn_risk_advanced.make_riskevent_to_risk_relation_mandatory] Set this property to true if you want to ensure that each risk event has corresponding risks.
    • Type: True or false
    • Default value: false
    No. of days for Rapid Recovery Classification [sn_risk_advanced.no_of_days_for_rapid_recovery_classification] Customize the number of days that users can set as their rapid recovery threshold.
    • Type: Integer
    • Default value: 5
    Show ORX External events [sn_risk_advanced.show_orx_events]

    Users can choose to see the ORX External Events. ORX provides a platform for the secure exchange of high-quality operational risk loss data from around the world. This property is useful for customers in the banking domain.

    Customers import the ORX information as shared by the ORX organization. This information can be related to risk statement or control objectives. This information can be modified by users.
    • Type: True or false
    • Default value: false
    How many years of risk event data to be shown on the report [sn_risk_advanced.number_of_years_report_data]

    Select how many years of risk event data must be shown on the report.

    • Type: Integer
    • Default value: 2
    Note:
    This property is visible on the System Properties page.

    Properties for advanced risk assessment

    To access the advanced risk assessment properties, navigate to All > Advanced Risk Assessments > Administration > Properties.

    Table 3. Properties for Advanced Risk Assessment
    Property Description
    Migrate to Advanced Risk Assessments [sn_risk_advanced.hide_risk_legacy_lifecycle] Migrate to Advanced Risk Assessments.
    • Type: yes or no
    • Default value: no
    Enable Advanced Risk PPM Integration [sn_risk_advanced.enable_advanced_risk_ppm_integration] Perform project risk assessments. Only users with the it_pps_admin or sn_ risk.admin roles can enable this property.
    • Type: yes or no
    • Default value: no
    For more information, see Configure Project Portfolio Management and Advanced Risk integration
    Note:
    This property is only available when Project Portfolio Management is installed.
    sn_risk_advanced.metric_approval Enables Risk administrators to define either the simple approval flow or the advanced approval flow for all the metrics and metric definitions.
    Note:
    This property is available only when the sn_grc_appr plugin is activated and must be set while configuring the ESG Management application.
    The choices are as follows:
    • Simple: By choosing this option, the Approval section will be enabled both on the manual metric definition form and within the metrics. Using this section, you can designate approvers directly on the metric definition form.
    • Advanced: When you choose this option, the Approval section will be unavailable on the manual metric definition form and the metric form. Instead, approval can be configured by setting the approval conditions, tables, and approvers in the GRC: Approver Configurator application. This application also allows you to define multiple levels of approvals. For more information see, Using Approver Configurator for setting up approvals.