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Risk management and governance

Internal and external pressures on organisations across all sectors of the economy to have effective structures and processes in place for governance and risk management have never been higher. Increased scrutiny from regulators and stakeholders, challenging economic conditions and a number of high profile failures of risk management has brought a number of issues to light for boards and executive management.

Some of these issues include:

  • Is there a clear and coherent operating framework defined, linking key elements together in a logical manner?
  • Do the board and management have a sufficiently robust and measurable definition of risk appetite?
  • How does the management of risk link to employee reward and motivation?
  • Is the management of risk truly embedded in day to day management of the organisation?
  • How well prepared for large impact low probability external events is the organisation?
  • What is the organisation’s approach to managing risks that manifest themselves beyond its immediate control – for example within suppliers, customers or regulators?
  • How well is the management and monitoring of different risk types across the organisation embedded and to what extent can you prioritise between different risk classes e.g, rewarded vs. unrewarded, trading vs. safety?

Deloitte has deep experience and proven methodologies to help organisations enhance governance and risk management practices.

Our key focus areas are:

  • Risk Context and Assessment - supporting the analysis and identification of organisational risk environment including external threats and opportunities, scenario analysis and identification of key risk themes
  • Risk appetite and monitoring - supporting the definition of a robust and comprehensive statement of risk appetite and the definition of key metrics to be used to monitor risk taking behaviour
  • Risk culture - supporting the assessment of an organisation’s culture and define areas for the enhancement of risk culture
  • Embedding the management of risk - embedding the management of risk in organisational processes and behaviours, using our proven methodologies and approaches to defining operating frameworks, policies and procedures

With a dedicated team of risk and control specialists we have the cross industry experience to make us confident to support you in development and recommend you on:

  • Risk identification and assessment
  • Development of the most effective ways of mitigating and managing key risks
  • Diagnostics and improving the efficiency of current systems and processes
  • Training programs
  • Other risk management and corporate governance issues
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