Mitigate risky operations

We can assist you in making smarter risk decisions by helping you reinvent risk at the behavioural and cultural level.

Risk is essentially a question about balancing priorities. A risk assessment resulting in over-regulation is frequently cited as one of the critical limiting factors our clients face is struggle to enhance business performance. But is it regulation or how organisations have reacted to regulation that is the real challenge?

One of the most negative overhangs of the post Sarbanes-Oxley era is the corporate perception of risk as something that can be processed away through layers of silo-ed functions. How do you strike the right balance when addressing market or operational risk whilst avoiding losing a competitive edge? Once identified a new potential risk tends to raise additional concerns that seem to only add complexity, cloud accountability and obscure the upside of risk taking.

Indeed, risk will never be eradicated by this process. But our approach is to ensure that it will not be driven underground. This entails established an environment to support a type of risk-reward based performance model required to create lasting growth and value.

So how do you reinvent risk?

We believe that risk can only be reinvented by taking a long term view of a business. Long-term business success in this environment hinges on the ability to reinvent risk management both from of a process and cultural standpoint. We have found that the most successful organisations ignite their appetite for risk management followed by integration into a business strategy and culture so that all facets of the business consistently apply the desired risk thresholds.

This enables such organisation to make a risk assessment whilst still achieving optimal performance and compliance and avoid investing in redundant or ineffective functions, processes and technology.

Alternatively, organisations may continue to focus on efforts to "process away" risk and ignore the upside, hoping that risk avoidance will one day be a differentiator. However, we feel that such steps do not fundamentally succeed in addressing the symptoms of poor risk management as opposed to the root issues.

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