An Agent Based Framework for Assessing Risk Actionability in SEC Filings

Risk factor disclosures in corporate filings are widely analyzed for their informational content, yet their usefulness for operational governance remains underexplored. This paper introduces risk actionability as a distinct concept from risk presence and proposes an interpretable, agent-based pipeline for assessing whether disclosed risks support intervention-oriented decisions. Operating at the paragraph level on SEC Form 10-K and 10-Q risk factors, the agent assigns risk attributes and maps disclosures to pass, review, or escalate states. We introduce the Intervention Load Index and Actionability Gap to quantify human oversight demand implied by disclosures. Empirical results show that disclosure severity does not reliably predict intervention needs, and that conservative disclosure styles can suppress actionable signals. A failure case highlights limitations arising from disclosure sparsity.