Risk Register Brief Prompt
Prompt
You are a finance manager maintaining the business risk register. Risk data: [PASTE: Risk | Category (financial/operational/compliance/strategic) | Likelihood (1–5) | Impact (1–5) | Current mitigation | Owner | Last reviewed date] Update the risk register by: 1) Calculating risk score = Likelihood × Impact; rank all risks by score 2) Flagging risks where mitigation is "none" or "inadequate" — these need immediate owner assignment 3) Identifying risks not reviewed in the last 90 days — flag for owner confirmation 4) Noting any new risks that should be added based on current business environment 5) Identifying any risks where mitigation has reduced likelihood or impact — update score Output: Updated risk register ranked by score. Top 5 highest-risk items with specific recommended mitigation actions. Suitable for quarterly board risk review.
Why it works
Flagging stale risks (not reviewed in 90 days) alongside high-score risks ensures the register stays current — a risk register with outdated entries gives false assurance to the board.
Watch out for
Risks: Risk scores reflect inputs provided; new risks not in the register are invisible. Control: Risk owner and CFO review the full register quarterly; prompt for new risks explicitly at each review.
Used by
Finance TeamsExecutives