We are in the process of implementing AuditBoard's RiskOversight module. Do you have any lessons learned or best practices from your own experience?

My team recently implemented RiskOversight (RO).  I would be happy to share more lessons learned.  One piece of advice is that you have to project manage the implementation very closely.  Our RO PM would have had us implement the "base model" and then let us make updates once we were went live, but we pushed to have our customizations done during the "design phase".  I put that in quotes because the design phase felt more like a walkthrough of the system features instead of getting our requirements.  We forced them to do more 3 additional design sessions on top of the normal three so that we could get exactly what we needed.  Overall, we are very happy with the system, but you definitely need to schedule dedicated time during implementation.  As for timing, we did a project kickoff right before Christmas last year and then broke for the holidays and came back in January to start design.  We went live on May 1st of this year.

AuditBoard's RiskOversight module dashboard is very powerful tool for identification and risk management. Operational Risks are managed well by this tool.