Enterprise Risk Management (ERM) Services
Enterprise-wide Risk Management or Enterprise Risk Management (ERM) is a structured, consistent and continuous process across the whole organization for identifying, assessing, deciding on responses to and reporting on opportunities and threats that affect the achievement of its objectives.
ERM deals with risks that are very dynamic and short-term in nature as well as those that are longer-term and strategic. In order for any organization to be successful, it is necessary to integrate all of these concerns and elements into the way in which its business is managed.
An efficient ERM approach is always pragmatic and focused on those areas that offer the greatest potential benefit from improved performance. With deep industry expertise and a consistent, comprehensive, and global methodology, we take the time to understand your organization’s culture to help you sustain lasting value.
Our Risk Management Approach
Our risk management approach, which utilizes internationally accepted risk management frameworks and guidance, focuses on the relatively higher risk activities and the related control structure. It results in value-added insights to the organization, including operational improvements that reduce cost, enhance revenue and improve customer service.
We support our clients in meeting their ultimate business objectives, identifying risks affecting achievement of these objectives and developing and implementation the adequate and timely risk responses by designing and implementing sound policies, procedures, practices and efficient business processes.
Our ERM component encompasses: aligning risk appetite and strategy, enhancing risk response decisions, reducing operational surprises and losses, identifying and managing cross-enterprise risks, seizing opportunities and improving deployment of capital.
Our Specific Services Offered Are
Organisational Objectives’ Documentation Services
We provide support to Boards and related Committees by delivering following services:
- Perform business reviews, undertake discussions with stakeholders and identify and formally document the Strategic, Operational, Compliance and Reporting Objectives of entities and groups.
- Risk Profiling and Management Services
- The Risk Profiling and Management Services line documents the risks affecting organisational achievement of objectives and develops documentation to manage these risks and keep them within tolerance level.
- Undertake studies of business models, business processes, resources and applicable legal and regulatory requirements in line with the environments in which the entities are operating, as well as its Governance Framework and future plans.
- Identify Risks in above-mentioned areas, affecting achievement of business objectives, with cause-effect details.
- Prepare Risk Measurement Models, present the same to Clients’ management and get the concurrence on the impact and likelihood criteria used in the model.
- Develop the Corporate Risk Strategy and determine Risk Appetite and Tolerance levels.
- Apply Risk Measurement Criteria and prioritize the Identified Risks.
- Create and continuously upgrade Risk Profile, Risk Register, and Key Risk Indicators (KRIs).
- Identify the Controls needed to manage the risks, including the details of the controls, linkage to all related risks, and implementation planning (actions, timeline, and responsibility).
- Prepare Policies and Procedures Manuals, Standard Operating Procedures and prepare Business Process Flows and Narratives.
- Develop the process for continuous and periodic monitoring the risks and verification / testing of controls’ implementation to judge their level of efficiency and effectiveness.
- Identify the requirements of reporting, including the frequency of periodic reporting, key content to be reported, responsible parties for reporting, and the design of reports.
- ERM Frameworks Implementation Services
