Every successful Enterprise Risk Management (ERM) transformation project should start with the end in mind. It is essential that organizations first establish a clear 'vision' of their ERM objectives and aspirations before putting in place the foundations of ERM. This includes the governance structure around the four lines of defense, risk policies and procedures, and ‘people’ initiatives to educate and build risk management capabilities.
How we can help
ERM Visioning and Awareness
- Facilitate 'visioning' of the objective of ERM in an organization
- Educate on ERM better practices and recipes for success
Enterprise Risk Assessment
- Develop risk appetite statements and tolerance metrics to drive risk management activities and align risk behaviors across the organization
- Conduct risk assessment (including controls/action plans)
Development of ERM Framework
- Formalize and document the framework to govern and direct ERM activities, including all the key foundations and pillars of ERM put in place
Change Management
- Conduct trainings to selected stakeholders (e.g. management) to raise overall ERM awareness
