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Barnett Waddingham
0333 11 11 222
Are you getting the most value out of your organisation’s risk management framework and are you confident your risks are well managed?  Is there an appropriate risk-aware culture where key decisions are made with appropriate consideration of risks?  Would you like to improve your organisation’s risk management maturity?

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. 

How our model works

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.

Case Study - Risk Framework Review
This client recognised that as it grew, some of its internal processes could be strengthened. They didn’t have a dedicated risk manager and the risk management policy, process and templates were not consistently used in the business units.

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.

"As a growing medium sized business, we knew we could be doing better at risk management but didn’t really know where to start.  We were seeking recommendations that were proportionate to our size and risk exposures and wanted to see how risk management can become a value-enhancing process.  The team at Barnett Waddingham gave us some very practical recommendations which I know will create immediate benefits.  Interestingly, the review went beyond the risk process (for example: maturity of other policies, financial risk management, governance roles and decision making processes) thereby showing the integrated nature of risk-mature organisations.  It was a real eye opener."

- COO, Professional Services Firm

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Please get in touch if you have any further questions.

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