Risiko- und Kontrollinventar

English translation: risk and control inventory

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Risiko- und Kontrollinventar
English translation:risk and control inventory
Entered by: Sanni Kruger (X)

14:46 Oct 17, 2017
German to English translations [PRO]
Bus/Financial - Finance (general) / internal control and risk management
German term or phrase: Risiko- und Kontrollinventar
I am working on a document about an internal control system of a financial services provider.

„Für jeden (IKS-relevanten) Prozess sind ein Prozessverantwortlicher und ein Stellvertreter definiert. Der Prozessverantwortliche ist verantwortlich für das IKS des jeweiligen Prozesses, die Aktualität des *Risiko- und Kontrollinventars* sowie die Aktualität der Prozessbeschreibungen.“

I have found one translation of “risk and control inventory”, but my searches only come up with hits to do with inventory control of stocks. I have had a few hits for the German term, but they do not really help me with finding an English translation.
Sanni Kruger (X)
United Kingdom
Local time: 07:51
risk and control inventory
Explanation:
It gets 35,000 Google hits. Inventory doesn't just refer to stock - it can also mean a review or assessment, as definition 2 in my dictionary reference shows.

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Note added at 23 mins (2017-10-17 15:10:04 GMT)
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So it's an inventory of the risks themselves, and the controls used to minimise them.
Selected response from:

philgoddard
United States
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2risk and control inventory
philgoddard
Summary of reference entries provided
inventory of risks and controls
Steffen Walter

  

Answers


11 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
risk and control inventory


Explanation:
It gets 35,000 Google hits. Inventory doesn't just refer to stock - it can also mean a review or assessment, as definition 2 in my dictionary reference shows.

--------------------------------------------------
Note added at 23 mins (2017-10-17 15:10:04 GMT)
--------------------------------------------------

So it's an inventory of the risks themselves, and the controls used to minimise them.


    Reference: http://www.google.com/search?q=%22risk+and+control+inventory...
    Reference: http://www.merriam-webster.com/dictionary/inventory
philgoddard
United States
Specializes in field
Native speaker of: English
PRO pts in category: 205

Peer comments on this answer (and responses from the answerer)
neutral  writeaway: only 16 ghits which does seem odd. it's what Asker suggested as well
13 mins
  -> I don't understand how you and she aren't getting any hits.

agree  michael10705 (X): I think that "list" might be an option here as well...
1 hr

agree  Steffen Walter: https://www.rsa.com/content/dam/rsa/PDF/ds-rsa-archer-risk-i... (see p. 1; "Key Features - Visibility into risk and control inventory ...")/ No. of hits goes down from 35,000 to 16 upon opening second search page.
3 hrs
  -> Oh, I see. Well, it still makes perfect sense even if it doesn't get many hits. Thanks!
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Reference comments


3 hrs
Reference: inventory of risks and controls

Reference information:
... might be another way of putting it, besides Phil's valid suggestion.

See

https://www.mckinsey.com/business-functions/risk/how-we-help...
"After enhancing the framework through several pilots across the first lines, the bank was able to roll out the approach across the entire bank through its first-line organization, creating a global inventory of risks and controls that could be mapped by first-line ownership and second-line control responsibility."

https://jobs.metlife.com/BrighthouseFinancial/job/Charlotte-...
"Key Responsibilities ... Maintain inventory of risks and controls over financial reporting within the GRC Tool."

Steffen Walter
Germany
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 400
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