Enterprise Risk Management (ERM) Consulting

Strong risk and resilience capabilities can be the difference between those that thrive and those that fight to survive. Augmenting your ability to manage risk in an increasingly complex environment, with the help of expert ERM consulting, will provide you with a strategic advantage and better position you to respond to disruption in a seamless, coordinated and efficient manner.

Enterprise Risk Management is the overall management of the risks that an organization takes to achieve its strategic objectives.

Risk Management

Risk Governance and Oversight
Risk Identification and Assessment
Risk Management and Reporting

While risk is a necessary cost of doing business, the enterprise risk management consulting team at PwC Canada can help you manage your risks by:

aligning risk, strategy and performance to preserve and create value
providing a framework and tools to enable a portfolio-level view of risk
facilitating a smooth path to success

%

of business executives surveyed are increasing their overall spend on risk management technology.

%

are increasing overall spend on data analytics (75%), process automation (74%) and technology to support detection and monitoring of risks (72%).

%

credit consulting with Risk professionals as the key reason they make better decisions and achieve sustained outcomes.

PwC’s Enterprise Risk Management Equation

How you benefit by engaging PwC Canada ERM consulting.

When successful, an ERM program integrates risk management principles and business strategy to deliver tangible benefits:

Efficiency in decision making

Make informed decisions, fast - based on data, a holistic understanding of your risk universe, and the potential impact associated with each risk.
ERM consulting helps you identify and address the root causes of problems such as system and process failures, poor customer satisfaction, supply chain issues, etc.
Anticipate problems and thrive - rather than merely survive - in an ever-increasingly complex environment.

Trust across your organization

Risk management gives teams a common objective - break down silos and improve collaboration across your organization as you define efficient ERM processes.
Promote communication and accountability at all levels, all the while fostering a more risk-conscious culture.
Enhanced visibility into risk profiles and performance through improved transparency.

Outcomes that are sustainable and strategic

Focus on sustainably achieving strategic objectives underpinned by strong performance and accountability.
ERM consulting helps you avoid taking unnecessary risks that could be significant while being entirely misaligned with your overall strategy.

Developing a strategic risk management model that’s human-led and tech-powered

Human-led
Tech-powered

Our Strategic Risk Management Model is enabled by ERM consulting expertise gained through supporting thousands of clients across different business sectors.

Our enterprise risk management consulting team will deliver:

Insights from best-in-class industry sources (e.g. COSO, ISO 31000), helping you address the relevant core elements to building your risk function.
Comfort that you’re building on foundations of deep previous experience delivering sustained outcomes, rather than starting from scratch.

While technology has greatly evolved, many risk functions are built on legacy systems. In helping you develop a strategic risk management process, our enterprise risk management consulting team helps you:

automate inconsistent, manual processes
structure previously unformatted data
efficiently store and unify disparate data sets

Ultimately, our erm consulting services will enable you to form an accurate picture of risk and make informed business decisions.

Enterprise Risk Management Consulting—Integrating with Strategy and Performance

Originally developed in 2004 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the COSO ERM—Integrated Framework is one of the most widely recognized and applied risk management frameworks in the world. After a decade of experience with the framework, COSO set out to update it to further address the alignment of risk, strategy and performance. COSO re-engaged PwC to serve as the project team. The 2017 updated framework is called Enterprise Risk Management—Integrating with Strategy and Performance.

How can our ERM consulting team help?

At PwC Canada, we provide end to end enterprise risk management services including but not limited to the following:

Establishing the foundation of the ERM program
Identifying and analysing risks and aligning your risk profile with the enterprise and business units’ priorities
Conducting relevant research using the PwC tools to identify emerging trends and risks
Developing strategies and action plans to help manage, reduce and avoid risks
Developing reporting tools and dashboard to help you report on risk to executive management and board of directors
Designing integrated assurance coverage across the enterprise through risk, compliance and internal audit teams

A good starting point is to self-assess your ERM activities in order to determine where you are and how you could improve your program. Our ERM consulting professionals have developed an automated tool that is easy to use, very cost effective and efficient. The tool produces a detailed assessment report where the only input required from you is to fill in a survey. Our enterprise risk management consulting professionals then lead a workshop with you to review the results and discuss the next steps in your journey. If you would like to know more, please contact us.