Enterprise Risk Management (ERM) transformation involves cascading the risk management measures to operational level. Organizations need to establish monitoring mechanisms/tools to manage risks on an ongoing basis, and change management programs to further strengthen the 'risk culture'.
How we can help
Risk Analytics and Modelling
- Establish baseline and 'good to have' data to be collected and analyzed
- Develop the framework and process to collect and analyze the data necessary to enhance decision making
- Develop Key Risk Indicators, mapped to the risk appetite and tolerance metrics
Incidents, Near-Miss and Exceptions Management (INME)
- Develop framework and processes for managing, analyzing and reporting incidents, near-miss and exceptions
- Integrate INME program outcomes to the existing risk management activities
ERM Culture and Capabilities Programme
- Develop ERM change management plan (communication plan, competency roadmap, etc.)
- Implement change management plan (conduct trainings , develop communiqués, etc.)
Policy and Process Management
- Develop framework and process to review policies and processes following any change in the external environment, internal organizational changes or changes in strategies
- Map key risks to policies and processes, and identify areas of weaknesses
ERM/GRC Technology Selection and Implementation
- Develop GRC strategy
- Selection and implementation of GRC technology
- Assisted several large property developers in Singapore in the review of internal policies and processes vis-à-vis risks identified in its critical processes, and provided recommendations for areas of improvement.
- Delivered ERM trainings and change management programs to statutory boards, government agencies, and large property developers in Asia and Middle East, to cascade risk management knowledge to the staff.