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Business Advisory

Enterprise Risk Management

Enterprise risk management in business includes the methods and processes used by organizations to manage risks and seize opportunities related to achieving their objectives. In this area of practice, we work closely with our clients. Typically we are involved in identifying particular events or circumstances relevant to the organization's objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By clearly identifying and proactively addressing risks and opportunities, we assist business enterprises to protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.
Our solutions consider each client's requirements and follow the best practices for each sector. We acknowledge that the trick to successful risk management is to break it down into manageable stages and tasks. The basic steps comprise:

Establishing Context

This includes understanding the current conditions in which the organization operates in an internal, external, and risk management context.

Identifying Risks

This includes the documentation of the material threats to the organization's achievement of its objectives and the representation of areas the organization may exploit for competitive advantage.

Analysing and Quantifying Risks

This includes the calibration and, if possible, probability distributions of outcomes for each material risk.

Integrating Risks

This includes aggregating all risk distributions, reflecting correlations and portfolio effects, and the formulation of the results in terms of impact on the organization's key performance metrics.

Assessing and Prioritizing Risks

This includes the determination of the contribution of each risk to the aggregate risk profile and appropriate prioritization.

Treating and Exploiting Risks

This includes the development of strategies for controlling and exploiting the various risks.

Monitoring and Reviewing

This includes the continual measurement and monitoring of the risk environment and the performance of the risk management strategies.
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