ENTERPRISE RISK MANAGEMENT[ERM] CONSULTING

ERM is the comprehensive framework employed by an organization to identify and assess material risks, develop specific mitigation strategies and enhance the effectiveness of responses in a way that opportunities are harnessed.

Corporate boards, ratings agencies and regulatory bodies are among the key drivers for advancing ERM. The implementation of ERM can facilitate better capital resource allocation decisions, increase operational efficiency, and enhance a company’s risk control efforts to support critical strategic, compliance, and governance initiatives. We can help your organization apply an integrated approach to identifying and assessing business-critical risks, evaluating existing risk management infrastructure elements, and constructing continuous, in-depth ERM processes.

Our Service Offerings

Riskmap ERM specialists analyze risk from an integrated perspective, exploring risk relationships within your organization to create a more urbane understanding of your company’s material risks. Whether your company is just beginning the ERM journey or has an established framework in place, RISKMAP can assist you in your ERM efforts.

 Who Can Benefit?

  • Any publicly traded or privately held organization:
    • In a highly regulated industry.
  • Seeking to better understand and manage the risks it faces across the entire organization.
  • Wanting to benchmark and improve existing risk management arrangements.
  • Looking to coordinate and formalize its risk management efforts across the enterprise.

 Our Deliverables

A proven process to help you identify and assess material risks, develop specific mitigation strategies, and assess enterprise-wide technology platforms for ongoing monitoring and reporting.

The ability to create a holistic, enterprise-wide risk aware culture, drawing upon RISKMAP’s expertise in industry issues, risk analysis, analytics, organizational change, and risk technology.

Identification, Assessment, Analysis, and Prioritization

Current State/Gap Analysis

 When considering the steps necessary to implement an ERM framework, it is useful to first identify and compare your organization’s existing capabilities relative to what capabilities management would like to have in place. RISKMAP provides a current state assessment, as well as a gap analysis against best practice and a benchmarking report.

Risk Identification and Assessment

Risk identification and assessment is a critical framework component. We take a structured approach to assess risks specific to your organization. This includes the collection, identification, categorization, prioritization, and mapping of risks to align with your organization’s business objectives and strategy. The result is a strategic organizational risk map.

 Risk Analysis

Risk analysis enables you to better understand the impact risk has on your organization and your business objectives. RISKMAP takes a disciplined approach to understanding your risk appetite and developing tolerance thresholds; modeling risks and their variance; providing an analysis of the projected impact of mitigation strategies; assisting you in determining optimal capital allocation; and considering the upside of risk to your business.

Risk Evaluation

A systematic ERM approach calls for the analysis of possible actions taken with respect to each risk—accepting it, managing it, or exploiting it. Moreover, these options typically necessitate an implementation plan. RISKMAP offers an evaluation of risk treatment options including the projected costs and benefits; identification of risk ownership; the recommendation of tailored solutions appropriate to your business and objectives; and the implementation of risk mitigation strategies.

Risk Reporting

Managing risk across the enterprise requires coordination. The information produced by the various businesses and risk management functions in the risk assessment and analysis phases must be disseminated so that the right people are given the right information at the right time to make informed business decisions. RISKMAP can help you determine the appropriate needs of your business, its management, and key constituents, and assists in the design of meaningful communication processes and materials.

Our comprehensive approach addresses the needs of board members, senior managers, risk managers, and other internal and external stakeholders.

 Technology Strategies

In an effort to sustain risk monitoring and to make risk reporting more efficient, many organizations are turning to technology to support their ERM framework. Riskmap works with you to establish principal business requirements; recommends technology solutions; assists you in the development and implementation of a technology infrastructure; and evaluates various software applications.

In order to gain invaluable insight into risk management, regulatory requirements, and stakeholder expectations, your organization needs the right tools to unlock your data’s potential. Riskmap professionals can help you select the right platform, apply methodologies, and implement analytics and technology solutions to help you get the most out of your data and streamline risk management.

Target potential risk factors and spot opportunities with a portfolio of technology solutions

Riskmap combines business and industry expertise with the strengths of a technology company to help you:

  • Identify weak spots and opportunities within your organization using collaborative risk assessment tools
  • Determine how data can be used to address risk factors and possibilities
  • Choose from an ever-growing portfolio of proprietary solutions that can be adapted to your specific needs

Framework Design, Implementation, and Reporting

Organizational Implementation

 Instilling a risk-based culture is crucial to realizing the on-going benefits from ERM. RISKMAP works with you to enhance existing processes or create new ones. Activities can include building communication protocols based on a “common language” for discussing risk; enhancing risk governance frameworks; and integrating risk management activity into your control and compliance framework, strategic planning, and business processes. As a follow-up to these activities, we provide you with an implementation road-map to assist with organizational change.

BASEL ACCORDS [2-4] IMPLEMENTATION SUPPORT

Basel Accords present the framework for stronger risk management practices in the banking industry by aligning banks capital with their basic risk profiles to promote a more efficient, equitable and prudent allocation of resources.

 

MARKET RISK MANAGEMENT CONSULTING

Market risk includes the risk of losses arising from adverse movements in market prices. We offer a wide range of market risk management tools to support your trading activities.

 

Risk Modelling

Risk modelling is about modeling and quantification of risk. Our approach to risk modelling pays particular attention to the systemic aspects of risk in complex systems and covers credit, operational and market risks.

 

Operational Risk Management

ORM deals with the management of a firm’s risk of monetary loss resulting from inadequate or failed internal processes, people, and systems, or from external events.

 

Stress Testing Implementation

Stress testing is defined as “a generic term describing various techniques used by financial firms to gauge their potential vulnerability to exceptional but plausible events”.