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Make better risk-based decisions

How do you know you are making the best risk-based decision that you can?

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Enterprise Risk Framework Reviews

The design, development, build and implementation of enterprise risk management frameworks (ERMF) is a core offering. Our team has decades of collective experience working across financial services, energy, government, telecommunications and utilities to ensure your new or existing RMF is ‘fit for purpose’. With a heavy focus on Decision Quality and the impacts of cognitive bias, we look through the ERMF to its core purpose – making better risk-based decisions, and that shapes our thinking for each individual client.

How we can help

Every key business decision is a risk-based decision.  The trade-offs you are making have short or long-term impacts. How do you know you are making the best risk-based decision that you can?

A meaningful RMF brings together the key elements of effective business decision making. It starts with your purpose and mission, reflected in your strategy, risk appetite and operational plans. It connects these plans with the things that must go right or can go wrong (risks) with the rules you must comply with (regulatory and contractual obligations). It then considers your operating model, resource capabilities, business processes and controls and helps answer the key question: what should we do?

Successful and sustainable business decisions come from the insightful distillation of all elements of the RMF. Gaps in any part embed more risk in the decisions you make. Companies that are ‘built to last’ ensure their RMF is tailored and maintained to support intelligent business decisions. They invest in all parts of the RMF to have a decision support system that provides transparency into the business, along with intelligent analysis and insights, to ensure enduring business success.

An effective and ‘fit-for-purpose’ RMF is more than a management system – it is the most important decision support tool you have.

Key areas of focus

Our team can help you:

  • Review your existing RMF to assess how well designed it is to help you make great business decisions
  • Provide expert advice on the design and configuration of each of the elements, either individually, or as an integrated whole
  • Use our proven maturity assessment methodologies to identify how well placed the business is to leverage your existing RMF or what investments or changes might be required to get where you need to be
  • Develop the right business requirements design for your GRC (Governance Risk and Compliance) software solution (which holds most of your integrated RMF data), or review your existing solution design or implementation
  • Assess the value you are extracting from your RMF (and GRC) to ensure the board and executive are truly being provided with the insights and decision support data required – and address gaps where they exist
  • Benchmark your RMF capabilities, across each element, to chosen peers, industry norms or best in class capabilities

Get actionable and meaningful insights

Whichever service or support we deliver, we will provide you with a report that presents a meaningful view of your organisation’s RMF and the measures required to safeguard your business. The report includes:

  • Actionable insights based on our engagement and industry expertise
  • Where relevant, benchmarking data to call out leading or lagging behaviours
  • Overall risk rating, based on our self-assessment of your business risk

Need help getting started?

Talk to us today about ensuring your new or existing risk management framework is ‘fit for purpose’.

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