Get Tability: OKRs that don't suck | Learn more →

Risk Manager metrics and KPIs

What are Risk Manager metrics?

Finding the right Risk Manager metrics can seem daunting, particularly when you're focused on your daily workload. For this reason, we've compiled a selection of examples to fuel your inspiration.

Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.

Find Risk Manager metrics with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.

Examples of Risk Manager metrics and KPIs

Metrics for Internal Auditor Performance

  • 1. Audit Completion Rate

    The percentage of planned audits completed in a given period

    What good looks like for this metric: 90%-95% completion rate

    Ideas to improve this metric
    • Set clear priorities for audits
    • Allocate resources effectively
    • Enhance time management skills
    • Streamline audit processes
    • Regularly review audit plans

  • 2. Number of Findings per Audit

    Average number of findings identified during each audit

    What good looks like for this metric: 2-5 findings per audit

    Ideas to improve this metric
    • Improve risk assessment techniques
    • Incorporate data analytics in audits
    • Enhance auditor training programmes
    • Focus on high-risk areas
    • Use checklists to standardise audits

  • 3. Implementation Rate of Audit Recommendations

    Percentage of audit recommendations implemented within the agreed timelines

    What good looks like for this metric: 80% implementation within 90 days

    Ideas to improve this metric
    • Ensure recommendations are actionable
    • Engage with auditees to understand constraints
    • Follow up regularly on recommendations
    • Provide practical solutions
    • Prioritise high-impact recommendations

  • 4. External Audit Discrepancy

    Comparison between internal audit findings and external audit findings

    What good looks like for this metric: Less than 5% discrepancy

    Ideas to improve this metric
    • Align internal audit focus with external audits
    • Improve coordination with external auditors
    • Regularly update auditing standards
    • Review and improve audit documentation
    • Provide sufficient training to internal auditors

  • 5. Audit Cost Efficiency

    Cost of auditing per audit presented as a value component to business value

    What good looks like for this metric: $5,000-$10,000 per audit

    Ideas to improve this metric
    • Implement cost-saving technologies
    • Opt for risk-based audit planning
    • Streamline the audit process
    • Utilise a hybrid auditing team (internal and external)
    • Automate repetitive tasks where possible
audit-efficiencyperformance-benchmarksinternal-auditorrisk-manageraudit-teamcompliance-team
Implement these metrics

Tracking your Risk Manager metrics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

Tability Insights DashboardTability's check-ins will save you hours and increase transparency

More metrics recently published

We have more examples to help you below.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

Table of contents
Copyright © 2024 Tability