Enterprise Risk Management (ERM) enables you to implement effective structures to govern your strategy and ensure that operational decision-making is aligned to company objectives and risk tolerances.
Organisations are expected to have a systematic approach to risk identification and employment of control strategies to ensure their business objectives are achieved. As the link between business functions, ERM ensures common understanding, language and solutions are employed throughout.
Enhanced risk awareness encourages better operational and strategic decision-making which is aligned to organisational objectives and risk tolerances. By establishing agreed boundaries ERM will improve your ability to make consistent, appropriate choices.
We apply a practical methodology to ERM with a structured, operational approach to managing risk. It is not enough to identify and provide risk control strategies, an organisation needs to ensure that the controls proposed are effective.
We can introduce and review ERM practices and systems by:
- analysing the performance of risk management systems;
- verifying current risk management practices and risk control methods;
- implementing ERM frameworks including reporting systems and risk management tools;
- embedding risk and control awareness into informed decision making processes leading to better results;
- ensuring verification methodology is used to provide organisational assurance on ERM outputs (i.e. testing the effectiveness of risk treatment plans and risk controls);
- creating accountability for risk at all levels of the organisation; and
- improving organisational risk awareness and training key people in ERM philosophies and practices.
For further information on how we can help you with your enterprise risk management, please contact us.