Enterprise Risk Management
ERM involves an integrated approach to managing risks and seizing opportunities. ERM provides a risk management framework which typically involves identifying particular events or circumstances relevant to the organization’s objectives, assessing them in terms of likelihood and magnitude of impact, determining a response strategy and monitoring progress. By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall. Our team specialises in the design and implementation of ERM programs, including risk identification workshops, culture, policies, procedures, training and ongoing review and reporting.
Facing the challenge
“Today, risks don’t fit into easy categories or emerge from pre-determined place. They assault from all sides. It may surprise you to know that at least half of all corporate crises are caused by senior management action rather than external forces. I firmly believe that the most successful, least crisis-prone businesses will be those whose boards have shown firm resolve and taken decisive action. Effective, integrated strategies for dealing with tomorrow’s risks require a change in culture at board level now.”
(Lord Peter Levene, Chairman of insurance giant Lloyds speaking at the World Affairs Council).