Enterprise Risk Management
Our Enterprise Risk Management services emphasize upon structuring robust risk governance and reporting structures for our client organizations. These include end-to-end implementation of enterprise risk management framework with a view to help our clients in risk-informed decision making at strategic and operational level.
Our ERM services cover the following:
The Risk Strategy – Governance, Structure & Framework service will help clients to improve risk management and oversight. It provides baseline for organizations to promote risk-resilient culture, enhance risk awareness, integrate risk management in overall business strategy, comply with regulatory requirements and define roles and responsibilities for the board and executive committees related to risk management.
ECOVIS has a well defined ERM implementation methodology to assist clients in identification, analysis and evaluation of enterprise-wide risks. It allows organizations to proactively identify risks as opportunities or threats and to decide on relevant course of action before materialization of threats or loss of opportunities hereby reducing the overall cost of risk for the organization.
ERM Maturity Assessment helps organizations to see where there risk management function stands in terms of effectively identifying and managing organization-wide risks. ECOVIS detailed top-to-bottom review of ERM function allows organizations to identify gaps and deviations and aids in strengthening their risk world.
ECOVIS ERM Framework promotes common language for communicating risk across the board and executive management of the organization. Besides managing identified risks, it provides opportunities to the organization to sense emerging risks due to changes in laws, regulations, market trends, micro/ macro economic factors and business needs due to rapid changes in local and global business requirements.
ECOVIS provides Risk Intelligent processes and systems which integrates strategic planning, internal audit, compliance and anti-fraud programs to optimize risk management function and bring-in process efficiencies. Advanced risk analytics includes developing Key Risk Indicators (KRIs) and risk reporting mechanisms with customized dashboards to enable c-suite executives and deptt. heads to have greater visibility of risks and related action plans.
Awareness of risk by the management and employees at all levels is a critical success factor in ERM implementation program. Our experts provide risk management trainings enriched with specific industry insights to build a robust risk-intelligent culture that promotes timely escalation of risks to the higher management. ECOVIS ERM training programs focuses on reinforcing the implementation of effective risk management practices at all levels.
Methodology
ECOVIS ERM methodology is developed leveraging global leading risk management practices and frameworks including ISO 31000 and COSO ERM framework. Our well-thought out and all-inclusive approach helps clients to build a strong foundation of effective enterprise risk management practice and serves as a corner-stone in developing a risk resilient organization.
