started welcome everyone thanks for joining us today for the what's new in Risk Management webinar my name is Emily pedasi I'm a product marketing manager here at service Nowell and I am joined with ukar Jane our director of product management we are going to take you through some really exciting enhancements and features and new functionality that's in our latest release out on the store now um so get ready to learn a lot today before we get started we're going to hit a little housekeeping items first off you are on mute but that doesn't mean you can't ask questions feel free to use the Q&A feature at the bottom of your screen to ask questions throughout today's presentation we will have a Q&A session at the end so we will address them in the order that we have received these question and we have a lot to cover today so if we don't get to your questions we will follow up with you after uh after the event to make sure that we get everything all answered for you Additionally the session is recorded um so this will be available up on the service now Community Forum about 48 Hours um about two days uh you'll be able to watch the recording feel free to reference back to it um because we are covering a lot today and feel free to share it with your colleagues in case they would benefit from some of the information here today and after the session today you may be prompted to fill out a short survey we would really appreciate your uh feedback on the session we use this to make sure that we give you the right information and continue to improve so we really appreciate your feedback and with that bring it up to our first event here we have new updates and everything that you see on today is already available up on the service now store so um you can use all of this stuff today if you have the risk application pretty excited about it and with that want to make sure that you knew about some of the other products that we have available up on the store um we have a lot of new features came out with this latest store release um and we're covering all of these over the next couple of weeks if you missed our business continuity management session last week that recording is available we highly recommend you taking a look at it the new enhancements to the Bas and the plans are fantastic very useful you are here today for risk management and on Thursday we are covering everything third party next week is dedicated to our continuous authorization and modering product as well as our compliance and audit management product lots of really great stuff here um new content new features all stuff that everyone will be able to use and then following that we're continuing the compliance thing with our compliance case management regulatory change management and our new data uh personal data rights in our privacy management product so be sure to tune in for these um we'll have a link at the end of today's presentation where you can go ahead and sign up for some of these if uh this is interesting to you and with that we'll go ahead and get started ukar I'm going to turn it over to you what's new in Risk Management thank you thank you Emily so I'll just put it into the PowerPoint mode and hi everyone thanks for joining in thanks for your time today I really want to appreciate all the feedback that all of you have given to us and what I'm going to walk you through today is actually an outcome of of that feedback so all of you again a word of thanks to all of your contribution so for those of you who don't know me I'm part of product management team at service now works as a director product management responsible for a portfolio of things of and specifically around risk management so really happy to be here today demonstrating some of the things that we have enhanced based on the feedback we have heard so so today what I'm going to do is I'm going to cover three major areas one is risk response now this is something I know a lot of you give feedback on there's ton of stuff we have to do around risk response and I think there's a there's definitely a a lot better capabilities and risk response after this release so we have plugged that Gap in that was highlighted to us in terms of a gray area in the product something we could do better so so a lot of your feedback you would see getting incorporated into the product today the second thing which is something which is very near and dear to me is also the smart assessment engine and while I'll give you a quick preview of how the risk identification questionnaire works in the new world of smart assessment engine please ensure you join the compliance session where we'll do a more Deep dive into smart assessment engine and show you how that's going to revamp the control the complete control adastation interface as well so this is the future in terms of your any of your questioners or assessments that we see from uh the risk business units products and something you you all have given a lot of feedback on again we also always make sure we listen to all our customers all our partners what they are saying so there s feedback in terms of not having capabilities you actually reopen risk events which are closed and you'll see how we have enabled it in this release followed by strengthening the core capabilities check into that feedback that youve given be supporting multile Dynamic approvals for metric data task or improving the accuracy in financial loss reporting by providing additional configurations to you as needed or making those small enhancements around the review and feedback capability that you have here right so so I'm going to talk or give you a live demo of a lot of these capabilities today but let me go deeper into the risk response area first so the first thing that I'm going to demonstrate today but we have made significant Improvement on is how the approvals work in the risk response so if you look at the risk response workflow prior to this corresponding release it it was somewhat hardcoded to go into the risk manager and you didn't really have configurability to actually Define a multi-level approval now what was happening because of this is if a customer is using AR there were instances of double approval because you do your approvals as part of the advanced risk assessment you could do these approvals as part of your risk response as well and some of the time the business Falls okay why do I have to approve it twice right so that's why we are making it completely configurable we're integrating with the approval configurator where you can Define your multi- level of approvals for risk response or even turn it off if you believe that approvals for risk response should already be factored in bya AR as well or Advanced risk assessment workflow so that's the first thing second thing I heard a lot of customers giving feedback is when we do these risk assessments these are being done on a more periodic basis let's say every 3 months every six months and it's highly possible that your existing risk response is not really closed right or even if there are controlled remedia deficiencies you have issues corresponding to it and you want to associate your existing risk response or issues uh to the current assessment instead of creating new ones so there was lot of feedback and uh let's say in terms of pain that was expressed by customers in terms of how the workflow works so what we have done in this release is made sure that or you can now reuse your existing open risk response task or plans or even issues and associated with the current assessment here so I'll demonstrate that too the last bit that we did is we have elevated the complete risk response plan of action as more as a complete structured action plan so similar to how you have issues where you have an issue and then you have mitigating or remediation actions defined you can have a plan of action defined as a risk response strategy and then you can have granular task defined corresponding to it so that way is you can really Elevate that entire conversation and say okay these are the steps we are taking in order to mitigate this risk right so that's something we have also enabled for you as an option in case you see those workflows across now talking about smart suspend engine so this is going to be definitely a key Focus area for us and like I said I'm only going to give you a Peak today but there's a detailed conversation or demo we're going to have specifically in context of control attestation but even the risk identification questionnaire we are giving you a choice to switch to the new smart assessment engine and with that what we have done primarily is we have completely developed the grounds up new engine which is obviously not just user friendly but it's actually much more configurable it's super powerful in terms of what it can do and there's a very active road map for it right so you'll see continuous investment from service now in making this better every release after release but these are some of the screenshot in terms of how the look and feel of the smart assessment engine is so it just does not only focuses on the person taking that assessment but what you are also trying to do is Empower or second line or even third line prti practitioners to set up these questionnaires as needed and there's a lot of thought that has gone into designing a right interface for even for the designer so that it makes it easy for them to create these questionnaires there's also capability around reopening closed risk events so again this is the feedback we heard that there are a lot of risk events where from a data correction perspective Regulators ask you to reopen this risk event make sure you can capture additional losses that you missed or maybe some entries you want to correct right so so we are providing an action or an option to you in the workflow to reopen these Clos rements and make those data corrections as needed I'll showcase that workflow as well now couple of other things we always focus on is it's not just always about building a new features but also making sure we are hearing and listening to those smile improvements in the product which helps you make your life easy right as a user as a customer or as a implementation partner so in those lines we heard a lot of feedback from customers around how for metric data task when you have a breach you want let's say people to review and approve it so right now the approved workflow in metric data task was hardcoded so it didn't have the flexibility to be dynamic in nature but now with this release it can be dynamic it does support multi- level again similarly in terms of how the Financial loss reporting was working in Risk event what we were doing is we were assuming your date of currency conversion and the date of loss is the same but what it does is sometimes lead to a nonzero let's say overall loss uh just because of the currency fluctuations that happens in the market so for those reasons there was feedback received from the customers and we we actually cated that in into the current release itself there's of feedback around metric we received that it's not very intuitive that okay metric gets created in only monitor State and therefore maybe metrics should be created they should be active by default so that we don't have to know why a particular metric is not getting inactive right so that was again a feedback we received we have catered towards it now for some of us we are not as fortunate so so we also want to ensure that the software or the tool we have is actually working for everyone and in those line from a service now commitment perspective you have also ensured compliance with the w act 2.1a standard in this release so a lot of out of the box pages are not compliant with it and we always make sure that we are not just building in new features new functionalities but also taking care of tech depth so you would see some columns getting renamed there's automatic calculation of sorts so a lot of these kind of improvements from a technical stand point that are needed are also factored into the release without further Ado I'll see if there are any questions that we can take up otherwise I can move into the demo Emily do you see any questions in the chat I can take up there is one question will there be a way to hide a section on the risk assessment main page in workspace such as scoring calculation I'm either thinking via out of thebox properties or UI Builder it it is absolutely possible already when you turn off let's say any of the inherent assessment control assessment in the risk assessment methodology configurations you should be able to turn it off but maybe if there are further details we can contact offline and have a deeper conversation there awesome so with that I'm going to move into the life system and showcase the risk response enhancements so what I've done today is I have impersonated as an operational risk manager and the first thing I want to in fact demonstrate more as a risk admin is the new configuration at the ram level right your risk assessment methodology level so for that I'm going to bring in the risk assessment methodology uh if you see there's a new configuration that we have made in the risk assessment methodology which allows you to link your issues with existing risk assessment so if you see there's a new flag allow issue linking with risk assessment now if this flag is turned on you would see what how does it impact into the risk assessment record directly so this is a net new flag that you will see as part of your risk assessment methodology if you you have a customer or your need is to actually use issues primarily as your further actions for your risk response you just have to turn this flag on and then the issue workflow will be enabled as part of your Advanced risk assessment workflow let me show you one of the instances of what changes we have made in the corresponding area so let's say I open one of these risk assessments right that is there and let's say you have this risk assessment around offering bribe and return for overlooking activity that is there and I say yeah let's get started uh maybe I don't want to copy the results over I want to start from scratch and if you see if the system ask me what the details are about the different assessments of inherent control and residual and I'll quickly do that so that I can move into the control residual assessment and show you how it looks like right so yeah so I do my controls I do my inherent I come to residual now when I come to risk response you would see that last time when I did this assessment the system is saying that oh this is the strategy you have selected which is transfer right do you want to change it so this is the first thing you would notice that the system is smart enough and actually populating that okay you you select it do you want to change your risk response strategy so if I say yeah I want to change it it going to give you me that options to change that across if I would have said no I don't want to change it I want to go back right for example if I just go back into the residual assessment and go into the risk response again as an example and if I select the transfer it will it would show me option to create task so this is a change we have made where your risk response are not getting create risk response task are not Auto getting created it's an option for you to create this similarly let's say if there's mitigation avoidance I can obviously select multiple of these that if I have to and click on this to create those risk response task similarly in the issue record that you have you would see there's an action to either create a new issue or link to your existing issue so now if you link L to an existing issue it populates all the open issues that are there in the system and I can say yeah these are the issues that it is linked to right so that ways you don't have to do duplication of work to create those across right and once I'm done with it I can obviously submit it across now so so let's say I move forward in the workflow and submit it across so that way is I have not done anything pertaining to creating that new risk response St similarly I'll show you an example of how you could see that the risk response that you have are copied over from your class assessment to your current assessment so now in this case what I said is I'm going to copy over my result and you would see when we move to the risk response stage the system would populate and say that yeah these are the existing task that are there so so you can actually get back to them and say okay these are the things that you already have action plan on so so in this case unfortunately I don't have anything open that's why it's not showing here but if there was anything open it would have showed those existing mitigation task so let's say I create a new new task for example let's say plan of action to mitigate right and I quickly Define that plan assign it to S the current user and save it so now let's say I did create it I submited across now when I come to it right and it has triggered an approval workflow where yeah uh it has sent it across to end Tor and now once your system is the risk assessment record is approved you can actually push forward so now if you see I have an option to reassess and if I click on this reassessment and go to this assessment and I copy over the results it would not create a net new risk response task it would link to that existing one which is open and neither would we cancel the current existing risk response staff so that way is that duplication of work that was happening is completely avoided so if you see automatically the previous risk response that you have is associated and the system is showing that yeah last time you did the assessment this was there if you want to edit the task you can always is go ahead and edit it or if you only remove it you can and then associate a new one for you so that way is that redundancy that was there in the system has been taken care of similarly you can link it to issues as well so these are the enhancements we have made pertaining to making sure like I said that you could reassess the risk more frequently but you don't have to recreate these risk response task or plan of action more and and also reuse the issues if you have to I'm just going to take a pause here for any questions queries on the chat we have two questions oh a couple more coming in if one of mitigation control for a risk is no longer compliant is there a way current or in road map to have that reflected on the risk score without redoing the assessment there is there absolutely so that's where automated Factor of defined so you could actually have your control assessment Leverage The automated factors and connect to your controll rating to actually uh make sure that whenever you have a non-compliant control your residual risk is autoc computed and it reflects that rating across so so again if somebody wants to see a demo I'm happy to have a one-on-one conversation and showcase out that one next one what do IP stand for in an issue number yeah that's a really good one I would say I mean even this is something which just like long long prehen release uh it's basically your issues plan task right because issues were extended from plan task table so that is why we created that acronym of sort called issue plan task now this is something that customers can always change but since out of the box there data migration impacts and stuff like it we never change it out of the box so so this is like prehen decision that we took given the fact we were extending issue from a plan task table so it stands for issue plan task great next question in which circumstance if any are we meant to respond to a risk assessment with both issue and risk response task do we see these two processes working well together I guess I'm not seeing how this will not create duplication of effort for our users since the goal is the same I.E respond to with the issue excellent question excellent question so so the way we have been observing customers leverage uh issues and risk response there's definitely let's say a preference to words using one or the other so and when I speak to a customer base they're all let's say 30 to 40% of our customers who are leveraging risk response they don't want to use issues because in their world or as for their risk management policy the issues are more for control deficiencies while risk response are more strategic in nature right which may be forther like two years three years there's long plan of action that is there so they don't want to use the issue workflow and they use risk response there's another spool of thought that we have heard from customers where they want to have a centralized capability to manage all your actions so for them issue management is that centralized action management capability and hence they don't use risk response task workflow they only say oh we are mitigating it but the actual mitigation plan of action is tracked as an issue so now after this release that is also possible because creating your risk response task is actually optional you can instead create an issue for it I also see a possibility where customers could use even both together so for example let's say we have three controls now out of the three controls that are mitigating this risk you have already an open issue T to control one which is ineffective now in those cases you would not want to create a risk response to say mitigate because you know there's a plan of action already in place but maybe you want to introduce a new compensating control and hence you want to create a new mitigating plan of action to say in case let's say this control doesn't work I should have a compensating control in place which should come into place and can work as a backup control of sort now the reason that I would create that as a mitigating plan of action is because I can then do a cost benefit analysis on it and I can get strategic budgets out and it's not being tracked as an issue because going by the previous notion a lot of times customers say issue means control deficiencies right or exist in deficiencies so hence it's purely a customer choice and organizational policy on how they want to track these for dire actions from a risk response standpoint excellent great questions guys keep them coming um for the interest of time I think we're going to move on to our next section but keep those questions coming we'll do a more Q&A at the end and if we don't get to your question we'll follow up with you offline absolutely I love all the question that the team raises so always open for this the next thing that I want to talk about is I know a lot of you in the partner ecosystem did this for our customers already where you can you define your risk response task as a plan of action but now this is available out of the box right so this is a feedback we heard that a lot of times like I was saying your risk mitigation plan is really requiring more detailed actions so now if you see here you can define those individual action items and I can say let's say if this is the risk that you're looking to mitigate these are the actions you're taking if for each of these actions you can assign these actions out to different owners they have their own workflow in terms of making sure people are working on those actions there's a due date that you can Define in terms of when they need to work on these actions and also on the risk response itself you have a due date out of the box right again a feedback that came in saying oh we don't have critical Fields such as due dat or priority available out of the box and we end up reconfiguring it like a lot of times so all of that has been taken into account so that ways you can actually Define these and you can have literally like a complete action plan defined for you so that's the objective and you get that visibility on the overview page how different actions are working uh which of these are getting overdue what is the state of it on the risk response page itself the next thing I want to demonstrate is also the dynamic approval workflow and for that what I'm going to do is go back to my one of my risk response task and let's say okay uh maybe let me see if I can pick this one out here and and see yeah before but I do that I want to show you also the configuration we have right on what we are shipping out of the box to make sure that Ral workflow is actually Dynamic and it does factor in the uh multi-level capabilities so for this you need to go to approval configurations and if you see there's a record for each of the type of risk response risk acceptance risk avoidance risk mitigation and risk transfer so let's say risk mitigation is something I want to see and you would see in the configuration layer I have said I need two levels of approval the first level is the risk owner approval and the second level is the risk manager approval so any risk response task we have of type mitigation it should actually go in for these two levels of approvals for me right so first is from risk owner and the second one is from the risk manager now here for Simplicity say I'm referring to the risk owner field and the other one I said risk manager is hardcoded as an example to a particular user but you can always make that Dynamic if there's a need to right so so that's something you can always do from a configurability perspective let show you this configuration as well so you can see this is the risk manager approval that is needed and I said okay Karen zomo is the person who's going to review an Pro it now what will happen is in the system let's say this is a this is the task that are there and if I initiate workflow you would see that it would trigger an approval first for the risk owner which in this case is the same user just for demo purpose I'm using the same user which is your Andro trailer and I can clearly see it's going to go to Andrew and then it's going to go to Karen as well so I say approve so so now first level approval is being done if I'm personate as Karen and let's say Karen accesses This Record why employee Center to do those approvals for the risk response mitigation here she can do it via employee Center as well so she can always approve it right here using the task page we have or she can actually go into the GRC task page as well so both possibilities exist in terms of whether you want to see the details or not okay so now you see how we have made that complete thing Dynamic and it's a choice now this is a feature is available all these enhancements around risk response that I spoke about specifically uh risk response as a plan of action Dynamic approval workflow is available to irm standard customers which means standard risk customers as well so it's not just restricted to Advanced risk customers but obviously ability to reuse risk response and issues is only available to Advanced risk entitled customers so those were the primary bit from a risk response perspective I wanted to cover now the next thing I want to switch gear to is smart assessment right and for that I want to start by by demonstrating how easy is it for somebody to set up a new questionnaire I'm going to do with this in context of risk identification but similar capabilities exist for control attestation as well so let's say there are two out of the box questionnaire we have for risk identification and uh I can show you the existing one or I can create a net new questionnaire as well if need right and I can click on this new action and I can create a new questionnaire for me where I can Define okay what is the context of the questionnaire right uh what what is going to be it is going to be used for is it risk identification is it control attestation what Cas it's going to be used for and then Define those individual questions out so now let's say I open up one of these existing ones that you have here you can see there's a bunch of details for example for what's my category of the questionnaire what is my target right and there are settings that are available to you which we'll talk about when we actually go into the compliance session where we'll demonstrate this in context of control restation now one thing to noce unlike the previous assessment you also have an opportunity to create instructions so let's say if I want to add instructions of thought that I want people to read before they respond to this question here I can add those instructions out here and then that appears as a section for me right so that way is customers can actually uh have like a simple training of s that they're giving before people are responding to it similarly from a questionnaire perspective you can organize your questions into multiple section each section can have multiple questions for each question you can provide a short text you can provide a detailed text you can select what kind of question is it is it single line multi-line input is it a drop- down radio button what is the type of it and all that so so it's super easy and actually makes it very very e let's say user friendly for customers to actually do it so let's say if I want to create a new questionnaire let's say demo smart assessment for lack of a word and I want to use it for risk identification I say table the context is entity I created right and if you see if I go into the actual save I save these basic configurations out I don't know to modifying of these details that are there and go and directly add question so let's say I add in instructions so you can type in your instructions here right and then you can also add the assessment reference in terms of the right hand side information I'll show you what it means but it's essentially the contextual information somebody needs to actually respond to it so what it's going to do is it's going to give you opportunity to add the relevant column for example maybe you want to add in company the configuration item some of these columns out right compliance score so automatically these details will be displayed on the right hand side panel for you and and and you don't have to actually configure it in UI Builder similarly if there are multiple sections you can add sections and I can say maybe this is the screening question section where I'll ask some basic details for me so and for each of the section I can add questions so I can say maybe type of for organization right and let's say it's a drop down so I can say is it a is it a maybe a horizontal function or a vertical function as an example right horizontal vertical which means it's particular business line or is it a horizontal function like nhr or Finance or what is it right and you can make it as required non- required you can obviously make it conditionally mandatory also visible so a lot of options are available already in the first release right for you to configure the right sections obviously you you can have multiple such sections such questions in a particular questionnaire so do you have the required details as an example now and I say this is a radio button of choice yes and no this is an optional question that I have and if I want to have additional question description I can add that additional description below that's going to help somebody respond to it better and even further guidance for example there may be guidance in terms of Rich Text feeds images that you want to made so you can provide those as well now once you have done all of this right so you will publish this out you will initiate these in context of risk identification now how do you enable is you can go to risk identification configuration and you can say that for this kind of things I want to switch to the smart assessment so I don't want to use the old assessment engine but I want to use I want to use the smart assessment workflow right so so that ways you're making a conscious choice that these are the let's say Target custom users you're rolling out your Smart assessment for and you don't have to make like a switch from all the different things so if you have assessments where you have already trained or certain set of users and you want to continue right while for new user base for new context on which you are doing risk identification you want to use Smart assessment you can so for example here see I have this flag as checked use Smart assessment then you can select the relevant questionnaire from which is published as a smart assessment so instead of selecting the classic assessment questionnaire you're selecting the smart assessment questionnaire here now once that is done now if I impersonate as let's say somebody responding to this smart assessment you would see a different UI or user interface again so if I go into my risk workspace as an example and let's say if I have one of the open task tag to responding to this risk identification question here you see the right hand side panel that appear so this is what I was configuring similarly each of your questions is organized into different sections that you have you can see you can modify any of the details out as needed right so yeah making it very very intuitive and very easy for somebody to actually respond to this right and once that is done you can obviously reassign this or you can submit it across as well it shows you progress bar as well on the top if you want more details around it like I said you can configure additional contextual details if needed right so those options are always available for you in terms of what you can do I see a lot of questions Emily so maybe you'll take few of them and then I'll try to respond to others offline yeah we have lots of great questions thank you for submitting them guys uh first question can you duplicate an existing assessment and make changes from there excellent question that's something we are working on in the current release and you would see that getting out in f 25 time frame under safe on is all right next question is it possible to close a response task and have the risk in the monitor phase because we have an approve a response strategy and still have an open action item from the mitigation response because they are long-term yeah so as of now not really because thought process is if the risk response is not yet closed you don't want to move the risk into monitor state right from a reporting standpoint it's something you're actively working on so you're still in the response state of the risk but from a kri monitoring perspective that's a change we have made where you may execute your key risk indicators into the response state or even in the assessment state so so if the question was pertinent or driven from from that inherent challenge that customers were having that your kis were only getting executed in monitor State that's not going to be the case anymore of this news great um really like the new risk identification questionnaire where is the data stored and how is it accessed later can the data be analyzed compared summarized across multiple entities excellent so so this is the net new application that we buil that we calling it as smart assessment engine that's powering this interface with this new application there's a different set of tables that is storing all this data point now your point around can I compare and contrast Benchmark performances and stuff like it that's certainly a future road map item bringing an analytics into in this area comparing like a typical analytics of thought right saying okay how is entity one responding to it in correspond to entity to so those are all future road maps we will enhance but these are new set of tables that where you can build it out if you if there's a need from your standard reporting capabilities but out of the box it's something which you are planning for the future uses so coming soon uh last one and then we will move on to our next part of the demo as a risk manager can I provide feedback at question level excellent question again something we are tracking in the product road map to enhance in the future release so again coming soon looking forward to it awesome so with this I want to also talk about some of the minor things you have done and the first one I want to demonstrate is risky EVS right so let's say I had a risk events which was closed now prior to the current release you can't modify any right it because that risk event is closed we assume we have reported to the regulator it's secen there's no need to modify anything but there are instances where may we discovered late losses and hence there's a need to add in more or maybe there were some entries which were incorrectly captured for whatever reason and hence in order to make sure your risk events loss data reconcile with your financial systems you want the ability to re open so now if you see there's an action to reopen the risent now is it available to everyone no there's a there's a security in place to say oh if you want only a restricted set of group of people to be able to do it you can assign that role to them and then if they have that role assigned they'll be able to open that rescent so you can capture like what is the reason for reopening it you can provide additional context to it and then what it does is it moves the risk event back into the analyze state where you can modify any of these existing details do the data correction and automatically the system also captures that you actually reopen this risk event so from a reporting standpoint you can flag it this off saying this was a risk event which was reopened right so again something we heard from a lot of customers who's using this capability they face this Challenge and that has been Incorporated the other thing we have also done in this relief is how we handle currency conversions right and for that what was happening earlier is let's say there are uh these entries that you have right so you have one direct loss and then you have a recovery now a lot of times if let's say the loss happened on first of the month the recovery happened in fifth of the month and both of these right were in not the same currency in the not the same currency as your reporting currency it is possible that first on first your currency conversion was X but on Fifth when you're making a recovery it was 1.2x right which means let's say you actually were able to gain more in the books right than what you lost obviously that was not accurate in terms of the actual Financial systems on how they work so what we have done in this release is we have given you an additional configuration using which you can actually determine what is that date you want to use for your currency conversion logic so if you go into the risk event properties you would see an additional property to actually tell us how what dates you want to use for your currency conversion so let me impersonate as a risk admin here so if I go into risk event [Music] properties you would see a new property which will say oh Define the risk event currency conversion in configuration is it the event entry date is it the first loss entry date last one loss loss entry date or even the custom date so that you can for each of the entries you making you can specify this is the date on which the currency conversion should happen so so this is something you can do after this release as well in terms of the other bit and the last thing that I want also quickly show you is the metrix dynamic approvals so while I'm here I'll show you what we have done corresponding to it so now similar to how you had for risk response task even for metrics right you can determine what are the different approvals you need so let's say at a level one level I said this is the person who should be doing the review and approval and then for level two this is the person who should be doing it so you can see level one is Karen and level two is let's say some other user and you can even Define it dynamically to say only if there's a breach of let's say a red threshold then you should do level two approval or even level one approval so those elements of dynamic behavior that you typically have from a use case perspective can be configured it here so so in this case you can see yeah level one is Karen level two is Andrew and again you can say if the status as an example right metric status is breached then do those approvals or otherwise you'll do it so that's how you can codify these rules and make sure your approvals are completely Dynamic so those were the primary things I wanted to cover and and we have announced based on the feedback we have heard from all of you here I know we have 10 more minutes so would love to take more questions whatever we can and whatever we could not we will make sure we'll get back to you absolutely all right we've got a couple of more questions um can can a previously created response task from another risk or risk assessment be linked or does it have to be from the same one excellent question again so so this is something we discussed at length internally to say okay can we allow linking risk response ex across multiple risk right so in the current release we are not supporting it but definitely we are analyzing more on how we can enable that corresponding cap as well because I've seen some customers asking it and they say oh we want to manage it as a strategic action plan and hence it's not just one risk it impacts multiple risk so why should we duplicate that effort so how we do it whether we do it as a parent child similar to how we do issues or should we allow many to many relationship between a risk response and a r is something my team is still analyzing and we said okay we will wait for this and maybe in one of the future releases we will incorporate it but in the current release it's only for the same risk that you can link your existing risk response task to