1 / 1

Enterprise Risk Management

Step-By-Step Process to Implement an Effective Enterprise Risk Management System

Our risk management team helps organizations to set up their systems of identifying, analyzing and responding to events that may hinder the achievement of organization objectives. Risk Management is an inclusive process that requires the involvement of each and every person within an organization. Our role as expert helpers is to take management through a step-by-step process on how they can implement an effective ERM system to facilitate the achievement of objectives.

In carrying out this assignment we set professional boundaries. Our involvement is limited within the provision of guidance and risk management skills development, but the actual process remains the responsibility of management and process owners who are in a better position to understand their objectives and risks posing threats to the achievement of those objectives.

We encourage clients to adopt existing ERM frameworks and make modifications to suite their specific needs.

Board Oversight Role

In risk management, the board is caught up in its oversight role. A careful examination of failed ERM systems points towards lack of support from the top when board members are not skilled in enterprise risk management. The right tone at the top is very crucial for the success of an ERM system. Our risk expert team provides skill development services and runs oversight awareness sessions to board members to enable them discharge their responsibilities effectively.

Assurance Provision (Risk-Based Internal Auditing)

Internal auditors are required to provide an assurance to the board that management has set in place a system to identify risks that threaten the achievement of objectives and that the responses are adequate. Our experts help to develop risk-based internal audit skills and provision of guidance to internal auditors on the recommended approaches.

Risks may affect every type of business from strategy setting to operations and specifically risks may affect the operating system in the entire supply chain management or the environment.