Enterprise Risk Management
Enterprise Risk Management
Enterprise Risk Management
Body
The risks faced by organisations are expanding to cyber-security, regulatory change and geo-political change such as Brexit. An effective risk management process is fundamental to the board’s risk oversight process and help directors and executive management identify emerging risks and face the future confidently.
Protiviti’s Enterprise Risk Management (ERM) professionals partner with management to ensure that risk is appropriately considered in the strategy-setting process and is integrated with both performance management and operational activities. We work with companies to design, implement and maintain effective risk management capabilities to mitigate their most critical risks and address cultural and other organisational issues.
Our highly skilled teams help design and enhance reporting capabilities such that senior management, oversight committees and non-executives can appropriately understand the risk profile of the organisations and ensure measured responses and controls are in place to respond to the risks. We also help management evaluate technology solutions for reliable monitoring and reporting, and implement new processes successfully over time.
We have been appointed to the skilled persons panel for control and risk management frameworks.
Insights
The Top Risks for the Next Decade: A Global Perspective
The Top Risks for 2022: A Global Perspective
The Buffett Newspaper Test: What It Means and Why It's Important
2022 and 2031 Executive Perspectives on Top Risks
Our Services
Enterprise Risk Assessment
Supporting the business to identify, evaluate and mitigate business risks within the organisation.
ERM Diagnostic
Gap analysis between the existing risk framework and good practices. Looking at comparable ERM systems in similar organisations.
ERM Design and Implementation
Design and implementation of a risk management process, its structure and operating model including risk governance, risk processes and monitoring and reporting.
ERM Assurance Review
Independent review of the design and operating effectiveness of ERM activities, providing assurance over the adequacy of the risk framework.
Risk Awareness Training
Supporting the organisation to raise awareness within the business providing training across risk management functions.
ERM Reporting
Development of reporting tools to support the mitigation and monitoring of risks – Risk Index.
ERM Governance
Design and implementation of governance frameworks that provide assurance over the oversight and monitoring of the ERM process.
GRC Tools
Supporting the selection process of the GRC tools and/or the implementation of Protiviti Governance Portal.
Operational Risk KRI Design & Risk Index
Top 10 Global Financial Insurer - Protiviti created a strategy articulation map that tied corporate & business unit objectives to risk types, performance objectives & key risk indicators. This organised the business unit’s KRIs into meaningful groupings & factors, highlighting strengths & weaknesses of detailed KRIs used in daily decision making & cascaded into the various divisions. As a result, the business unit prioritised the development of KRIs that were achieving its performance objectives.
Operational Risk programme Assessment
Top 3 South American Bank - Protiviti was engaged to conduct an assessment of the ORM programme including policy recommendations, RCSA process, scoring model, loss data collection, executive risk dashboard reporting, risk tolerance, and appetite definition for this international bank.
Operational Risk Transformation Programme
Global Bank - Protiviti was engaged to deliver a multi-year project to transform the Operational Risk processes across a Division of this Global Retail Bank. Our team delivered a refreshed approach to Risk and Control Assessment, facilitated over 100 risk assessments spread across 10 countries, delivered a Division wide risk training programme to over 2,000 people and project managed the implementation of a new Group wide Operational Risk system into the Division.
Operational Risk Gap Analysis
Top 20 U.S. Financial Institution - Protiviti assisted the Risk Management function of a top U.S. banking and financial institution to identify critical gaps for adoption of Basel II AMA. Protiviti identified major success factors that need to be addressed to optimise the benefits received from its ORM/GRC system investment, as well as to strengthen and enhance existing operational risk and governance processes.
