Risk management

Risk management is a crucial element for the successful operation and long-term development of your organisation, helping you identify, assess and manage risks capable of affecting your strategic and operational goals. Effective risk management helps you identify and prevent critical weaknesses, allowing your organisation to adapt to today’s dynamic business environment.

The pace of evolution in today’s business environment is forcing organisations to manage and take risk management opportunities by bundling innovative and proactive governance, risk management and compliance (GRC) activities into a comprehensive organisational risk programme that makes it easier to take competitive opportunities and meet stakeholder expectations.

Our services

Setting up a risk management system and assessing its maturity
Specialist support throughout your risk management cycle
Fostering a robust risk culture

Setting up a risk management system and assessing its maturity

We are living in an era of unforeseen events, which poses risks, including geographical conflicts. Although organisations are not always able to foresee what might await them, controlled risk monitoring can help you respond to risks with greater toughness and agility.

Our services:

Devising procedures for your risk assessment and governance process

Setting up a register of organisational risks
Profiling your risk appetite
Creating a risk matrix

Assessing your risk management maturity and compliance

Mapping the risks of your process and assessing your effectiveness
Assessing certain functions
Assessing compliance risk

Optimising and automating your processes

Building a depository of predetermined risk mitigation methods and security measures for various risks
Opportunities to use technology and AI for improved risk monitoring

Specialist support throughout your risk management cycle

We offer complex support at every stage of your risk management cycle to help you improve how you identify, manage and mitigate your risks. Our services provide solutions tailored to each organisation, using modern methods and industry best practice.

Identifying and assessing your risks

We provide customised solutions to identify and assess your risks, using modern methods based on industry best practice, standards, various studies and unique tools developed by PwC to understand your risks and how they affect you.

Cross-functional risk governance

We improve communication and coordination between various functions in an organisation to prevent conflicts and discrepancies and to foster more effective risk governance. That’s why PwC supports clients as follows:

Mapping your processes and projects for new requirements, risks and controls
Assessing communication and information sharing between your functions
Assessing your interdepartmental interactions

Identifying sustainability/ESG risks

We conduct a holistic analysis to identify and assess your ESG risks, secure compliance with sustainability standards, and minimise potential adverse consequences. More details of our sustainability services.

Developing and reviewing your risk mitigation plans

We develop and adapt risk mitigation strategies to prevent disruptions and ensure your organisation operates sustainably.

Supplier risk governance

We assess and monitor your third-party risks (partners, consultants, vendors or suppliers) and develop policies and procedures to secure consistency with your overall risk policies and management strategy.

Incident management

We provide extensive support for incident management in organisations by ensuring risk incident data is collected, aggregated and analysed efficiently, and based on this analysis, we help define and take proactive steps to mitigate risks. We also offer to implement various incident management tools and risk controls, devise incident procedures, and assess your incident management.

Efficient risk management with IT solutions

Our team can use an IT platform developed by PwC to upload risk management maturity frameworks, collaborate to conduct an assessment, analyse and visualise the outcome, perform benchmarks by industry, and provide clients with a dynamic report. Find out more.

Fostering a robust risk culture

Risk culture has rapidly climbed the corporate management agenda and become a subject for debate among organisations in recent years. This was accelerated by regulatory developments in certain industries, by changes in societal values and priorities, and by the growing number of examples where the ‘common cause’ of organisational problems was poor culture. Organisations are now increasingly understanding their risk culture and how it affects their ability to manage risks and make effective decisions. Doing the right thing and having a robust risk culture can be a powerful tool to meet your strategic requirements according to your risk appetite.

What client problems we solve

Lack of holistic and systematic governance and a risk and compliance framework
A mismatch between your strategic direction, rules and decision-making procedures
An inadequate or ineffective mechanism for mitigating fraud risk
Failure to comply with relevant laws and regulations
Internal control and audit functions are unable to keep abreast of increasing digital pressures
A gap between the level of assurance expected from your internal audit and your business needs

Our assistance in integrating your risk culture

Creating a system of risk culture to formulate key components for achieving goals
Setting up and evaluating the process of risk reporting and communication to ensure your organisation can operate efficiently
A risk culture assessment to understand your current risk culture, identifying its strengths and areas for improvement
Risk culture change management