Risk - External Management Consultants

Risk Management is a systematic and repeatable approach to management of the risks in the organization.

There is no natural boundary dictating which risks should be considered by the Risk Management program. Typical best practice suggests that the risks considered should stem from the objectives of the organizations.

Many of our clients define their risks as those things that will keep them from achieving their objectives. By this definition the risks (sometimes referred to as strategic risks) may reside inside or outside the organization.

We provide a variety of Risk Management services including:

Development and implementation of Risk Management frameworks
Information Technology Risk Assurance
Data Analysis and Data Mining
Disaster Recovery and Business Continuity Planning
Enterprise Risk Management
Risk surveys and interviews
Provision of tools to support the process
Facilitation of risk prioritisation workshops

External Management Consultant’s ERM framework is underpinned by the following essential elements:

Commitment and Mandate	An ERM Strategic plan defines the organisation’s future vision, the Project Board’s appetite for risk and risk measurement classification and treatment types
Allocate and Organise	Elements of effective governance would include clearly defined roles and responsibilities, authority levels, risk charters, review and reporting of risks and oversight of the effectiveness of the overall framework.
Measure and Review	This element defines the risk management processes in place to identify, assess and treat or mitigate organisational risks within the business.
Technology	Technology to improve the effectiveness and efficiency of risk management, in particular risk assessments, assurance, reporting and measuring and managing specific risks.
Risk Management Functions	Risk management functions should manage and govern the risk portfolio of the business. It is important to ensure that these functions are coordinated such that they add value to the business through effective risk management.
Communicate and Train	The risk culture of the organisation should be a reflection of the overall risk strategy. This is aided and facilitated through having an effective enterprise wide Risk Management platform. A core component of this platform is the adequacy of the skills and experience of the risk management team.

For further information regarding External Risk, please contact us.