About Enterprise Risk ServicesManaging risk today is not what it used to be |
Technological innovation, globalization, complex regulation and increased accountability at the senior management and board levels have all combined to significantly change the landscape of risk management today. Managing risk has become increasingly complex due to the new "Network Economy" and the emerging risks of e-business from online security to customer privacy. The complexity also comes from the:
- Increasing need for knowledge of local laws and customs
- Evolution of trading markets
- Pervasive nature of information technologies
- Higher accountability standards for boards of directors and senior executives
- Unprecedented complexity of the regulatory environment, pressing firms for better risk reporting and more integrated and comprehensive risk management
- Shortage of skilled personnel
To help the market cope, new positions, tools, rules and even language have been created. There are new executive positions, such as chief risk officer, chief security officer and chief privacy officer. There also has been a proliferation of risk management software and other technology solutions as well as new regulation mandating certain risk management practices related to security, privacy, operations, compliance and economic exposures. Indeed, the term "enterprise risk management" (ERM) has become part of the general business vocabulary.
Deloitte has changed as well
In response to these changing conditions, and to continue to help clients succeed, Deloitte member firms have made major investments in their clients; people; tools, technology and methodologies; strategic vendor alliances; and, infrastructures worldwide. As a result, member firms can provide clients with solutions from a full range of consulting and assurance services, from assessment to transformation, involving process redesign and technology implementation.
An integrated best practices methodology and global framework for the delivery of services, along with an global Intranet for access to Deloitte member firm tools, technologies, and knowledge bases, enhance cross-border synergies and global collaboration.
Through the use of these global resources, Deloitte "e-enables" knowledge transfer, learning and client service delivery — focusing on value creating services that improve risk management effectiveness and efficiency while increasing stakeholder satisfaction.
The benefits to you
The professionals of Deloitte member firms are industry-based risk control specialists, who can help you to not only assess risk but also transform your organization's risk management systems to make them more effective and help you avoid surprises.
Utilizing unique frameworks and other proprietary tools, Deloitte professionals can help you to understand and manage risks across the enterprise and at the business unit, process, technology and data levels as well as risk areas such as strategy, regulatory/contractual, technical financial/economic and operations.
By teaming with others around the globe, Deloitte professionals at member firms can deliver integrated industry-based innovative solution sets to help you meet your business objectives worldwide. The services offered are competency-based and driven by market needs and industry issues. These offerings are then integrated to form innovative solution sets that meet your specific needs.
