Frequently Asked Questions
How long does it take to complete the risk assessment modules?
Each assessment module will vary in time depending on type of assessment. As a guide:
- H&S Risk assessment – 45 – 60 minutes
- Integrity – This a is a comprehensive assessment that can take 2 – 4 hours to complete as information is commonly required from various sources/departments.
- Cyber/IT – 30 minutes
- Offsite risk assessment – 6 – 8 minutes
- AML – 30 minutes
How are the risk assessments scored?
Answers to questions in each assessment are “weighted” to reflect the importance of the issue. For example, a question about the internal processes of a business that may leave it exposed to risks are more heavily weighted than say, a qualitative question about the level of understanding directors and management might have about a particular piece of legislation.
What should I do with the results of my assessment?
The Omni Risk assessment is just the first step in the risk management process but it is the most important. Your results (these are delivered back to you by e-mail within 24 hours of completing the assessment) will show the level of a particular risk (or risks) your business is exposed to using a 5 point scale (low, minor, moderate, major, catastrophic) and the urgency you should place on dealing with the risks identified. Once you have your assessment you can either:
- Contact Omni Risk to assist you develop your risk management plan or,
- Contact your own professional advisers and ask them to assist you develop your risk management plan.
Normally a fee will be charges for this service.
Contact us for the Omni Risk cost of developing your own risk management plan.
What is the cost Omni Risk assessments?
H&S Risk assessment – there are three components:
- The online risk assessment – $595
- Verification of documents by a highly qualified auditor – $200 (optional but recommended)
- Should you require it we can help you complete the assessment and upload your documents by video conference our cost – $300 (optional)
If you are interested in becoming a Omni Risk distributor please contact us here for further information.