RISK MANAGEMENT TRANSFORMATION

Service: The overall aim of this service is to protect and enhance shareholder / stakeholder interests while achieving the entity’s strategic goals and objectives. We design and implement a risk management transformation in order to deliver a process that is nearer to best practice. In the case of entities regulated by the FSA it will be influenced by the latest FSA guidance including The Turner Review published 18 March 2009. This project enhances the existing systems, processes, technology and culture to meet compliance requirements and it addresses financial and operational performance issues in a non-bureaucratic fashion.

Why should you buy it?
    -     To spread best practice consistently across the organisation.
    -     To bring about change in the risk culture of the business.
    -     To embed risk management into the fabric of the organisation.

Example Deliverables

We design and deliver the following;
    -     Risk management strategy and policy guidelines.
    -     Governance structure  - reporting lines, risk committees.
    -     Common risk language.
    -     Risk management tools – e.g. control self assessment.
    -     Key performance indicators.
    -     Risk retention strategy (risk appetite).
    -     Re-defined employee roles, responsibilities and reporting lines. 
    -     Risk management training.
    -     Selecting a Risk Management System to support risk management
    (See - Risk Management System Evaluation & Selection). 
    -     Risk management manuals (hard copy and intranet hosted).

Benefits:

Financial
    -     Protection of shareholder/stakeholder value across entire organisation.
    -     Reduced losses over time as effective risk management techniques increase robustness of internal controls.
    -     Increased earnings through more sophisticated, risk-adjusted decisions.
    -     Ensure a more stable and predictable cash flow.

Non-financial
    -     Development of a firm-wide deep rooted culture of risk management.
    -     Operational efficiency gains that increase productivity.
    -     Improved consistency and uniformity.
    -     Avoidance of duplicated effort.
    -     Clear reporting lines to ensure emerging risks are dealt with quickly.
    -     Avoid disasters and reduce the escalation of disasters.
    -     Focus on business management not crisis management.
    -     Improve and institutionalise corporate governance compliance.