Enterprise Risk Management

What is Enterprise Risk Management (ERM)?
Enterprise Risk Management (ERM) essentially refers to a process – a proactive and disciplined system of taking risks in a strategic and pragmatic manner to drive organisational success. ERM is applied across the organisation, making its members more risk-aware, better equipping them to manage their risks and also leveraging it as a competitive advantage.

Benefits

• Addresses stakeholders’ demands for high corporate governance standards
• Aligns an organisation’s risk appetite with its overall strategy
• Develops organisation-wide understanding and a positive attitude towards risk management
• Enables an organisation to obtain a competitive differentiator – demonstrating a proactive and pervasive risk management culture, systems and processes
• Enhances risk response decisions
• Facilitates the identification and management of multiple cross-enterprise risks
• Helps an organisation implement disciplined business processes that position it for today’s globalised, dynamic business environment
• Helps organisations meet demands imposed upon them by the regulatory environment
• Improves capital deployment through better risk information to facilitate decision making
• Positions an organisation to seize opportunities more effectively and efficiently
• Protects and builds shareholder value through a formal process of ensuring that major risk exposures are identified, assessed and considered in terms of additional risk controls
• Reduces operational surprises and losses
• Reduces the risk of project delays and disruptions by integrating ERM into project planning
• Supports effective reporting and compliance with laws and regulations, thus reducing regulatory and reputational risk exposures
• Transforms risk management from being reactive and impromptu to a proactive process and robust culture residing at the heart of an organisation’s business strategy

Echelon’s Approach
Our ERM solutions are customised to meet organisational needs. Using the Australian AS/NZS 4360 standard as foundational building blocks, we will work with you to develop frameworks and processes that will achieve the following:

• Establish context
• Identify risks
• Analyse risks
• Evaluate risks
• Treat risks
• Facilitate ongoing communication and consultation
• Monitor and review solutions

Deliverables can include organisational risk maps, action plans, risk cards and risk libraries.

Our Experience & Credibility
Echelon Risk Consulting’s ERM Team is made up of professionals from risk consulting disciplines across Jardine Lloyd Thompson. We have strong experience assisting organisations with their risk management needs. We support our client’s ability to take ownership of ERM development and deployment through the provision of tailored Risk Management Information Systems. We seek to ensure that our process gains the positive support of an organisation’s management, and to avoid any suggestion that the process is a form of an internal audit exercise.

For more information on ERM, please contact Echelon Risk Consulting.