Service Type: Marketing, Procurement & Trading
Project: Enterprise Risk Management Assessment
Context:
Our client was unable to start an ERM project which included performing an initial assessment, designing the program, and developing the implementation plan.
Approach & Results:
Approach:
- Developed a structured approach for defining risk framework as well as its risk.
- Formalized an ERM program charter, work plan, and milestones for interim results and long-term improvements.
- Compiled a key-risk register based on multiple risk assessments conducted within the company.
- Developed a common risk language across the organization.
- Prepared risk scorecards across various business units.
- Analyzed linkage between client’s risks to its strategic objectives.
Results:
- Jump-started an ERM program that was directionless.
- ERM assessment and recommendations.
- Mapping of key risk entities.
- Mapping of Board and Board Committee responsibilities.
- Instituting reporting templates for Executive and Line Management use.
