RISK IMPROVEMENT –
MANAGEMENT & MITIGATION
Transformation builds business continuity. Business Continuity is based on regular, diligent, disciplined assessment of all risks that can interrupt performance. We partner to conduct operating risk assessment focused on process, people, and technology and provide ways to mitigate risks.
Transformation introduces change which challenges business continuity.
Transformation needs to address the risks associated with Business Continuity. We introduce a controlled approach that is based on regular, diligent, disciplined assessment of all risks that can interrupt performance. We partner with our clients to conduct operating risk assessment focused on process, people, and technology and provide ways to mitigate risks. We introduce risk management in context to any transformation effort.
All of the things that organizations do in the course of their operations like: ensuring quality; improving customer service; practicing employee safety; prevention of accidents or fires; hiring lawyers to draft contracts; engaging consultants to build social media platforms: implementing cash handling procedures; etc., all of these things need to address risk management. It is the integration of risk management into the transformation effort that will be a significant contributor to sustaining the results realized.
We address risk management using an operational risk management framework addressing governance, design of a control environment emphasizing measuring, monitoring, and reporting. Our approach focuses on both how risk decisions are made and how to incent the right behaviors to mitigate future risk. Critical is the identification of potential risks or what can possibly go wrong. We measure the frequency and severity of the risks or what is the likelihood of the risk occurring and, if so, what is the impact. We examine alternative solutions, and help you determine what strikes a good balance between actions being affordable and effective. We will facilitate the decisions as to which solution to use and support the implementation. To continue the risk improvement cycle to refinement, we will work with you to create an effective monitoring and accountability approach.