Enterprise Risk Management (ERM) transformation involves cascading the risk management measures to operational level. Organizations need to establish monitoring mechanisms/tools to manage risks on an ongoing basis, and change management programs to further strengthen the 'risk culture'.
How we can help
Risk Analytics and Modelling
- Establish baseline and 'good to have' data to be collected and analyzed
- Develop the framework and process to collect and analyze the data necessary to enhance decision making
- Develop Key Risk Indicators, mapped to the risk appetite and tolerance metrics
Internal Controls Transformation for Pre-IPO Companies
A private company looking to list as a public company faces many challenges on the governance and controls front. As a public listed company, it now needs to assert the effectiveness of their system of internal controls to third parties. In addition to this, various regulations and good practice standards demand the company to establish and implement acceptable standards of governance and internal controls to meet the reporting obligations. In achieving this acceptable state of controls consciousness and culture, a significant amount of transformation is required, both at the process level as well as the mindset (people) level.
Leveraging from our decades of experience in risk management and internal controls and our in-depth industry knowledge, our experienced consultants work with companies through this journey of change, helping them transform their companies into an acceptable state.
Incidents, Near-Miss and Exceptions Management (INME)
- Develop framework and processes for managing, analyzing and reporting incidents, near-miss and exceptions
- Integrate INME program outcomes to the existing risk management activities
ERM Culture and Capabilities Programme
- Develop ERM change management plan (communication plan, competency roadmap, etc.)
- Implement change management plan (conduct trainings , develop communiqués, etc.)
Policy and Process Management
- Develop framework and process to review policies and processes following any change in the external environment, internal organizational changes or changes in strategies
- Map key risks to policies and processes, and identify areas of weaknesses
ERM/GRC Technology Selection and Implementation
- Develop GRC strategy
- Selection and implementation of GRC technology
Success Stories
- Assisted several large property developers in Singapore in the review of internal policies and processes vis-à-vis risks identified in its critical processes, and provided recommendations for areas of improvement.
- Delivered ERM trainings and change management programs to statutory boards, government agencies, and large property developers in Asia and Middle East, to cascade risk management knowledge to the staff.
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Jonathan Ho
Partner, Head of Risk, Advisory and Head of Infrastructure, Government & Healthcare
KPMG in Singapore
