We assist clients in their efforts to implement broad-based enterprise risk management (ERM).
Our efforts focus on:
- Risk management philosophy and tolerance assessment
- Risk identification
- Risk evaluation and prioritization
- Risk controls including avoidance, reduction and transfer
- Risk financing, and
- Overall reporting and communications.
With Standard and Poor's incorporating ERM analysis in developing debt ratings, many organizations are becoming more active with their ERM efforts. The following outlines our views on the topic:
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We do NOT believe
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We DO believe
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ERM is an entirely new concept.
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The tenets of ERM have been practiced by good risk managers for many years.
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ERM is a passing fad.
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It is a natural progression of the risk management discipline to consider interrelationships between risks and ensure that signficant risks receive appropriate attention within the organization.
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A one-size fits all approach works.
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Each client has its own capabilities, goals and focus areas.
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A broad-based consultant can offer all of the "content" expertise to fully examine all forms of risk.
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There is significant value in having a broad-based risk management consultant facilitate and streamline the process.
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ERM can be accomplished through a one-time exercise.
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A sustainable commitment must be made by the client to receive real benefits associated with ERM
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ERM has to be tremendously complicated to offer benefit.
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A pragmatic approach offers the best chance for long-term success.
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Our Approach to ERM:
- Because we do not believe in a one-size-fits-all approach, our engagements and services are customized to match with each client’s capabilities, goals, and focus areas.
- We have a strong reputation for offering pragmatic risk management advice. This pragmatism extends to our ERM-related efforts.
- We draw upon 40+ years of experience in helping clients to identify, analyze, and protect against their risks.
- We offer considerable insight and expertise with respect to operational and hazard risks.
- We have experience with simple and affordable technologies that help streamline the communication, documentation and tracking processes.
- Because we believe that ERM must be a sustained effort, we ensure the knowledge transfers to and resides with the client.
For more information please call 781-449-2866 and ask for Joe Underwood or click here to send an email.