Using our risk maturity model, we can provide an independent review of your organisation’s risk maturity and benchmark this against other similar organisations. The first step is to baseline what is in place, then agree an appropriate ambition or target and then develop a practical improvement plan to close the development gap.
The model considers three core aspects: TECHNICAL FRAMEWORK, CULTURE AND CAPABILITY. and the extent to which risk management is used in key decision making through a USE TEST.
Whilst proportionality is always a practical consideration, all organisations can benefit from improved risk management. There is no limit to the value of effective risk management.
We attended the risk committee, held interviews with key stakeholders in the business and reviewed internal risk documentation to understand how risk is managed in practice compared against different characteristics defined in our risk maturity model. The final report included: a benchmark risk maturity against comparable organisations, a detailed analysis of strengths, what the ambition level could look like in practical terms, development of detailed recommendations and an implementation plan. The findings were formally presented at the risk committee, including changes that potentially have major impact not only on the risk management process but to the organisation as a whole.
- COO, Professional Services Firm
If the UK votes to leave the EU on 23 June it could have a significant impact on your business. What, if anything, should companies be doing ahead of the referendum?
Applying actuarial techniques to help clients build brand value and customer loyalty.
Decisions in the oil and gas industry – especially at the exploration stages are fraught with uncertainty. We are working with companies in this sector to optimise risk and returns in investment decision making using a range of quantitative techniques.