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Enterprise-wide Risk Management

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Opportunity or Risk ? Gain or Loss ? Embarking on Enterprise-wide Risk Management enables a robust mechanism for your organization to effectively deal with uncertainty and associated risk and opportunity, thereby enhancing the capability to build value.

Beyond regulatory compliance and control, ELCO synchronizes Enterprise-wide Risk Management with Corporate Performance Management to ultimately provide assurance and value

 

Risk Management Framework & Structure
  • Diagnose existing business context, organization practices and needs
  • Establish risk management framework, structure, process and policy
  • Determine risk criteria of likelihood of occurrence and consequence on objectives  
Risk Identification, Assessment & Ranking
  • Identify enterprise risk events
  • Assess relevant risk factors
  • Risk register
  • Risk profile matrix and Key Risk Indicators (KRI) ranking  
Risk Control & Treatment
  • Determine risk appetite and tolerance
  • Determine existing risk controls
  • Develop risk treatment options
  • Determine risk ownership
  • Develop Business Continuity Plan and Disaster Recovery Plan  
Risk Monitoring & Review
  • Establish the regular reporting of progress on risk control and treatment action plan
  • Assign roles and responsibilities of risk owners
  • Review and track risk register, continuous improvement