Enterprise Risk Management (ERM) is a comprehensive, systematic approach that helps organisations identify,assess, prioritise and respond to risks proactively in order to meet its most critical objectives and related initiatives and day-to-day operations.
In order to do this confidently, an ERM framework should be fit-for-purpose and provide a comprehensive overview of the risk profile. If not, the potential untimely response to pressing risks and unmet expectations could leave you exposed to increased scrutiny from stakeholders.
ERM protects business by avoiding surprises through identification of all risks that may hinder achievement of objectives. ERM allows for informed decision making through greater understanding of your risks. All of this helps in better allocation of organisational resources in pursuit of the greatest value for businesses and their stakeholders.
Our services
We conduct maturity assessments and audits of your current risk management capability, providing you tailored recommendations in a defined implementation roadmap on how to take your ERM function to the next level. Our PwC methodology assesses your capability in line with leading standards and practices, including ISO 31000 and COSO ERM.
Leveraging the vast PwC network and subject matter experts, we can give you visibility into how your peers are applying ERM in the context of their organisation and industry, allowing you to harness these insights to improve your risk management capabilities.
No matter where you are in your risk management journey, we can support you in setting up or improving your ERM function to meet your aspirations for risk management. As co-authors of the COSO ERM standard, we understand how to adapt ERM principles to suit your unique operating model and objectives. This entails the development of your ERM Framework, including the ERM Policy, Procedures, Governance, Strategy and Risk Appetite.
We support organisations in developing their risk appetite for all categories of risk, support in quantifying the risk appetite thresholds and risk tolerance. We then help organisations operationalize the risk appetite through developing risk assessment criteria (impact and likelihood criteria) that will help the organisations to use the risk appetite on operational decisions.
Our professionals are highly experienced in the risk management process, meaning we can implement your framework to help you identify, assess, treat and monitor your most important strategic risks across the enterprise. This typically involves the preparation of departmental and corporate risk registers, in addition to risk reporting and dashboards for management and boards.
Training & Transfer
We will help you to skill up your current risk management staff / risk champions through formal workshops, digital training modules and on-job training to ensure smooth running of the risk management department.
Customized solutions
Whatever is your need, we can help customize a solution that fits your organisation and will help achieve your objectives.
Early and more accurate visibility of changes in the risk landscape in areas that could materially impact corporate objectives, facilitating more timely and informed management intervention.
Behaviours that generate competitive advantage, and the agility and flexibility needed to anticipate change and capitalise on opportunities through the proactive identification and implementation of treatment strategies.
Reduced performance volatility and increased consistency in delivering objectives, which, combined with greater levels of transparency, engenders stakeholder confidence and potentially enhanced valuations.
Development of a robust ERM framework that complies with ISO 31000:2009 Standard and COSO Framework enables you to comply with local, national, regional and international standards and risk relatd compliance awards.
Increased awareness and understanding of the Board’s desired risk and reward trade-offs, driving decision making consistency throughout the organisation.
Related content
Contact us
Follow us
