Report risk events from the Service Portal

When you identify any event that might have a financial or non financial impact on your organization, report it from the ServiceNow, Inc. Service Portal. You can also report any event that has already occurred with a financial or non financial impact.

Before you begin

Role required: ServiceNow user

About this task

You can log your risk event under any of the following event types:

• Risk event with financial impact
• Risk event with non-financial impact

Procedure

1. In the Service Portal, click Catalog > Browse by Categories.
2. Click Governance Risk and Compliance and then click Report Risk Event.
3. On the form, fill in the following fields:

   Table 1. Report risk event

   Field	Description
   Title	Enter the title of the risk event reported.
   Description	Enter the description of the risk event reported.
   Show my entities only	When selected, only the entities owned by you are displayed. This value is taken from the Owner field on the Entity form. By default, this option is selected.
   Entity where the event occurred	Select the entity that will absorb or report the loss. Select only one entity from the list.
   Other entities affected	Select other related entities that are affected by the event. Note: You can select more than one entity.
   Event type	Select one of the following: Financial Impact- This indicates that the event has an associated financial loss. Enter the amount in your local currency. Non-financial Impact- This indicates that while the event does not have any financial loss, it does have a non-financial impact on the organization. For example, a non-financial impact can be negative market news or a decline in employee morale.
   Currency	Select the currency for the loss. This field appears only when the event type is Financial.
   Date of discovery	Select the date when the risk event was discovered.
   How was the event discovered	Select how the event was discovered. For example, if the risk event was reported by a customer, select Customer Feedback/Complaint.
   Root cause	Enter your analysis for the cause of the event. For example, if a fire occurs in a server room, the root cause may be an increase in temperature or an electrical short circuit.
   Action taken	Enter what was done to reduce the impact of this risk event. For example, if the fire in the server room was caused by an electrical short circuit, then the action taken is a replacement of the defective equipment.

4. Click Submit.
5. To view all the risk events you have reported, navigate to GRC > My Risk Events.

Result

The risk event is created in the system and is ready to be analyzed by the risk manager. When an action is taken on the event, you will receive notifications on the status. You can respond to queries or track the status of the event during its life cycle.