Enterprise Risk Management


What Organization Eventually Achieves

ERM Infrastructure facilitates three critical aspects concerning ERM Implementation. First, it establishes a fact-based understanding of the enterprises’ risks and risk management capabilities. Second, it ensures there is ownership over the critical risks. Finally, it drives the closure of unacceptable gaps.

Properly implemented, ERM can help organizations pursue strategic growth opportunities with incredible speed, skill, and confidence by aligning the organization’s risk-taking with Its core competencies and risk appetite. Markets notice that organizations strategically focus on managing enterprise risks differently than others by the quality and extent - real or perceived.





How we see it

Shifting from silo functions and activities by integrating decision-making across enterprises, embedding and instilling risk management activities in strategic planning, projects' lifecycles, systems’ acquisitions, and key operations, and optimizing the balance between centralized and decentralized risk management roles and responsibilities are very important for the success of organizations.

Rising demand from unexpected sources, business model threats from upstarts in new sectors, a shifting geopolitical landscape, the new breed of connected information systems, natural disasters, critical events, and more, will give you tremendous opportunities to seize competitive advantages through the need for organizations to link risk and business performance. To do so, there have been further emphasized by two ERM framework updates:


  The 2018 ISO 31000 ERM framework emphasized the need for organizations to further integrate risk and in strategy formulation.


  The 2017 COSO publication Enterprise Risk Management - Integrating with Strategy and Performance, an update to its 2004 publication, similarly highlights the importance of considering risk assessment in both the strategy-setting process and in driving performance.

What organizations need to do

Organizations must make a transformative shift from a singular focus on protection to a strategic growth and protection mindset. This shift will enable organizations to focus on seizing the upside risks (i. e. opportunities) that can be realized through risk-informed decisions.

How can we assist

Drawing on in-depth industry experience, macro trends horizon-scanning techniques, and tracking the weak signals of change, we can help your organization discover, interpret, prepare, and capitalize on key risks. For organizations choosing to implement an ERM framework and embed the same within all lines of defense, we recommend our pragmatic 3-tiered phased approach:

ASSESSStep 01

Enterprise Management Maturity Risk Assessment

Our review of the existing risk management culture, governance structure, processes, stakeholders’ roles, and responsibilities as well as capabilities, and technological tools to manage risk management activities, will provide us with an overview of the current level of maturity of risk management activities across the enterprise. Accordingly, we will provide our recommendations to reach the desired level of maturity. So, our deliverables will include:

  Roadmap Report

  Maturity Assessment Gap Analysis

NAVIGATEStep 02

Evaluate The Existing ERM Infrastructure Capability And Develop A Strategy To Advance IT

As per the suitable target state select will develop the risk management infrastructure. So, our deliverables will include:

  Risk management framework including the procedures, operating model, board risk oversight committee charter, executive GCR Committee charter, roles and responsibilities, RACI matrix, KPIs, risk assessment criteria (likelihood, impact, and control rating matrices)

ADAPTStep 03

Advance The Risk Management Capabilities

Conduct the risk assessment workshop sessions along with the controls walkthroughs to determine the control’s design adequacy and effectiveness; and based on the level of residual risk and management response strategy, facilitate the development of the appropriate risk treatment plans to ensure that the risks are within the appetite of the entity. Conduct training and awareness sessions to enable the risk management stakeholders to adapt to the integrated ERM activities to achieve value creation and preservation. So, our deliverables will include:

  Strategic risk register with KRIs, treatment plans and escalation mechanisms.

  Operational risk registers.

  Intensive and bespoke training and awareness sessions for the executive management, risk owners and risk champions.