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. For details of our sustainability services click here.
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 here.
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
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