The Challenge of Defining Material Risk
- Set a target range for material risk – in practical terms, that’s a dollar figure
- Track ongoing risk levels in real-time, ready to report on short notice.
- Do it all in a way that’s open and defensible to the regulators
The Safe Solution:
The FAIR Materiality Assessment Model and the SAFE Platform
The Safe platform implements FAIR-MAM with proprietary formulas, benchmark loss values, and real-time risk data for an out-of-the-box solution for identifying and tracking materiality.
- FAIR-MAM tracks loss in 10 categories (data breach, ransomware, etc.) down through five or more layers of subcategories (for instance, breach notification or credit monitoring costs)
- Loss can be modeled with customization to any organization’s business structure, assets, risk scenarios, or other requirements.
- FAIR-MAM is an open standard that meets regulators’ demands for transparent disclosure.