Diligent Announces Enterprise Risk Management Dashboard Powered by Moody’s Proprietary Data, Providing a Comprehensive View of External Risk
Diligent has launched a new Enterprise Risk Management (ERM) dashboard powered by Moody’s proprietary market data. This tool aims to provide a comprehensive view of external risks for Chief Risk Officers, CFOs, general counsel, and other risk professionals. It aggregates critical risk data, helps identify potential risks, and facilitates clearer reporting to the board and executives.
The dashboard complements Diligent’s existing internal Board Reporting for ERM, enabling a full-spectrum analysis of both internal and external risks. It leverages Moody’s data, including credit risk assessments and country risk indices, to enhance decision-making and risk mitigation efforts. This collaboration aims to improve transparency and proactive risk management in the current dynamic business environment.
- Launch of a unique ERM dashboard that aggregates both internal and external risk data.
- Integration with Moody’s proprietary data provides comprehensive risk insights, enhancing decision-making.
- Dashboard helps Chief Risk Officers, CFOs, and general counsel pre-emptively identify risks.
- Facilitates clear and concise reporting to the board and executives, streamlining communication.
- Enhances transparency in risk identification and mitigation, potentially unlocking business opportunities.
- Data-driven tool aids in monitoring critical risk factors like credit risk assessments and supplier performance risks.
- Potential high costs associated with adopting and integrating the new ERM dashboard.
- Dependence on Moody’s data may limit flexibility if Moody’s data presents inaccuracies or omissions.
- No mention of user-friendly features or ease of use, which may pose adoption barriers for some professionals.
- The effectiveness of the dashboard relies heavily on the quality and comprehensiveness of the internal data input by users.
Insights
The introduction of Diligent's Enterprise Risk Management (ERM) dashboard, powered by Moody’s proprietary data, represents a significant advancement in the risk management sector. By utilizing Moody's extensive datasets, this dashboard offers a comprehensive view of external risks—such as credit risk assessments and country risk indices—which can be pivotal for organizations looking to preemptively manage potential threats.
From a financial perspective, this product enhances transparency and supports data-driven decision-making, potentially reducing unforeseen financial pitfalls. The integration of Moody’s data provides an additional layer of reliability and trust, which can boost investor confidence. Additionally, improved risk reporting capabilities could streamline communications between risk professionals and executive teams, fostering a more proactive approach to risk management.
Short-term, this could lead to marginal improvements in stock performance due to increased investor confidence. Long-term, companies using this dashboard may experience more stable financials by mitigating risks effectively, which could positively influence their market valuation. However, investors should remain cautious of initial adoption costs and the learning curve associated with integrating a new risk management system.
Dashboard combines Moody’s vast and proprietary data estate with Diligent’s best-in-class reporting to deliver a comprehensive view of risk exposure to leadership and the board
The ERM dashboard complements the recent launch of Board Reporting for ERM from Diligent, which provides organizations with a clear and consistent view of their internal risk posture. Together, leaders can gain a comprehensive understanding of both internal and external risk to drive decision making.
“As a board member, the ability to gain a clear picture of risks — from ESG or operational risks to supplier and competitor risks, market fluctuations, and financial health – is enormously useful,” said Patricia Galloway, Board Director at Stantec and Chairman of Pegasus Global Holding, Inc. “To me, the ability for practitioners to easily collect and collate risk data, and then present it in a way that tells a clear story of an organization’s external risk footprint, complemented by internal risk data, is what really sets this apart.”
“We’re thrilled to join forces with Moody’s to help organizations gain greater transparency into their risk identification and mitigation efforts against a complex and fluid risk landscape,” said Brian Stafford, President and CEO of Diligent. “The dashboard will make it easier for CFOs, GCs and risk professionals to pre-emptively identify risks lurking in the market and value chain, gain clearer visibility into potential exposure to operational and financial risks; and improve board and executive communication with clear and concise reporting.”
Leveraging powerful proprietary data from Moody's along with the ability to add valuable internal risk data aggregated from Diligent, the ERM dashboard provides:
- A holistic view of external risk with access to Moody's data including credit risk assessments, supplier performance risks scores, credit sentiment scores and country risk index.
- Data-driven decision-making to pre-emptively identify risk and enhance oversight, leveraging insights from Moody's comprehensive data sets.
- Effortless reporting to the C-suite and board, streamlining communication and delivering clear and concise insights to foster proactive risk management strategies.
“Navigating exponential risk in today’s dynamic business landscape is a key priority for today’s business leaders,” said David Platt, Chief Strategic Development Officer at Moody’s. “The ERM dashboard combines Moody’s vast and proprietary data estate with Diligent’s advanced technology to provide a comprehensive view of risks, empowering leaders to make informed decisions that help decode risk and unlock opportunity.”
Visit us here to learn more about the ERM dashboard with Moody’s.
About Diligent
Diligent is the leading GRC SaaS company, empowering more than 1 million users and 700,000 board members and leaders to make better decisions, faster. The Diligent One Platform helps organizations connect their entire GRC practice — including governance, risk, compliance, audit and ESG — to bring clarity to complex risk, stay ahead of regulatory changes and deliver impactful insights, in one consolidated view. Learn more at diligent.com.
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About Moody’s Corporation
In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of 15,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at www.moodys.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515779465/en/
MEDIA
Kelly Blum
Senior Director, Communications at Diligent
770.354.1693
Kblum@diligent.com
Chris Cashman
Corporate Communications
212.553.1461
chris.cashman@moodys.com
Source: Diligent
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