Sensitivity Analysis
What is Sensitivity Analysis?
An analytical technique that determines how variations in input variables affect outcomes, helping identify which risk factors have the greatest impact.
Frameworks that govern sensitivity analysis
What the standards actually require on sensitivity analysis
Requirements naming sensitivity analysis across 6 standards, quoted from the control text.
Those doing the analysis grasp where it is uncertain and what that means for how far results can be trusted, and always pass this on to decision makers.
iec-31010-2019::6.4.2 · 6.4.2 Uncertainty and sensitivity analysis →The entity gives a sensitivity analysis of the effect on equity and on profit or loss had risk variables shifted, at the reporting date, by amounts judged reasonably possible.
ifrs-17-insurance-contracts::128-129 · Sensitivity analysis for insurance and market risks →Determine risk per NIST SP 800-30 Rev 1 Section 3.2 Step 6 + Appendix I (Risk Determination Tables) and perform uncertainty and sensitivity analysis per Section 3.2 Step 6 guidance.
NISTSP30-6 · Risk Determination, Uncertainty, and Sensitivity Analysis →A view of risk across the whole portfolio is built and then evaluated. Management first considers risk by division, unit or function and then across the entity, so that interdependencies, concentrations and offsets appear;
coso-enterprise-risk-management-erm-framework-2017::P14 · Principle 14: Develops Portfolio View →A central counterparty covers its credit exposures to participants for all products through an effective, risk-based and regularly reviewed margin system. Margin levels fit each product, portfolio and market;
cpmi-iosco-principles-for-financial-market-infrastructures::P6 · Principle 6 Margin →A RAM plan covering the life cycle tasks still to come is established, reviewed and maintained through the life cycle, includes the tasks judged most effective for attaining the RAM requirements (agreed between duty holder and suppliers), and defines the manag...
en-50126-en-50128-en-50129-railway-applications-rams::50126-1:7.3.2.2 · RAM plan →Questions people ask about sensitivity analysis
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