Enterprise Risk Management

Enterprise Risk Management

One of the lessons from the current financial and economic crises is the mind boggling speed at which contingent risks can turn into a catastrophe. This underlines the significance of Enterprise Risk Management as a necessary business tool.

ERM brings in additional strategic business discipline that supports the achievement of an organization’s objectives by addressing the integrated framework of its risks and managing the combined impact of those risks in order to maximize the organizational value.

Who Needs It?

All types of companies require an ERM system to assess, identify, monitor, reduce or accept the risk.

  • A small business when it grows will find it difficult to manage it processes.
  • A medium/large business continuously grow – new challenges, new risks or increased risks will emerge.

Strategic Risk Analysis

We work with business owners and leaders to analyze your firm’s or department’s overall objectives in the context of competition and current market trends. We will work with you to understand the constraints you face and partner with you to overcome them with sustainable strategies and processes.

 

 

 

 

 

  • Understand your constraints, identify your strategic risks and partner with you to overcome them
  • Identify the context of Competition and Current Market trends.
  • Analyze the firm’s current strategies in the above context and work with senior management to build in required changes, if any
  • Extensively work with business leaders to analyze the alignment of each department’s objectives to the above strategy
  • Identification of KPIs and setting up a measurement strategy
  • A thoroughly validated firm strategy that has a buy in and active participation of every department

 

New Process Design

When starting a new business or a new service line, often, the hardest thing to do is to ensure that you start at an efficient level. Learning occurs as the firm progresses with the business or service and at a certain point in time in the future, the firm reaches optimal efficiency levels. Unfortunately by then, valuable time has been lost and unnecessary expenses incurred.

 

 

 

 

  • Improve your chances of operating your new business / service at optimal levels from the initial stages.
  • Analysis of the new process to identify efficiency gaps and risks.
  • Benchmarking against corresponding Industry Best Practices.
  • Identification of KPIs and setting up a measurement strategy.
  • Professional scrutiny of your process to incorporate revenue improvement and cost reduction opportunities.
  • Minimize time spent in operating at inefficient levels.Implementing and enhancing process design can help:

    • Align risk and controls in the process steps for efficiency.
    • Provide end to end view, improving accountability among various process owners.
    • Rationalize the (Key Performance Indicators) KPI & Key Risk Indicators (KRI) for effective monitoring of process.

Process Intelligence

 

 

 

 

 

 

 

 

 

  • Overhaul current processes and their mappings to let you monitor your process performance, every single day, day after day, with utmost simplicity.
  • Analysis of current processes to identify gaps and risks.
  • Process transformation and documentation.
  • Identification of KPIs and setting up a measurement strategy.
  • Building interdepartmental linkages.
  • Design of Senior Management information dashboard.
  • Eradication of delays in information movement to Senior Management.
  • Manifold improvement in performance.
  • Elimination of unproductive departmental silos.
  • Complete control over operations.

Process Transformation

As processes and people mature within the organization, a comfort zone is built around each. In the process, regular and structured process risk analyses and mitigation strategies, take the backseat. Remaining alert and proactive in such matters meant staying ahead …yesterday. Today, it means staying alive.

 

 

 

 

 

  • Improve process efficiency, effectiveness and reduce process risk.
  • Analysis of current processes to identify gaps and risks.
  • Process transformation to incorporate Industry Best Practices and documentation.
  • Identification of KPIs and setting up a measurement strategy.
  • Evaluating and aligning to or bettering Industry Best Practices
  • Regular assessment to instill alertness to internal and external risks among the employees.
  • Transformation to a firm that is always operating at optimal efficiency.