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Risk Management

Risk management in a volatile world

Are the right people making the right decisions to safeguard your company and its bottom line? Great risk management leads to great opportunities. And today's environment of constant change and disruption exposes businesses to more risks than ever before. To protect their business, customers, and shareholder value in these difficult times, organisations require a sophisticated, experienced risk management and control function.

In an environment where the stakes are higher than ever, risk managers must balance the need for innovation with future risks. A single bad decision can devastate a company's reputation and bottom line. In short, risk managers must now lead—capably and wisely—rather than simply monitor and warn.

Our risk management practise attracts, develops, engages, and elevates risk management leaders by leveraging proprietary data and tools, as well as the expertise and perspectives of our world-class consultants. We use tried-and-true strategies to build and align functional teams, shape organisational culture, and develop and coach leaders to act confidently in the face of adversity. We assist organisations and individuals in developing the skills and competencies required for top performance in the most difficult environments, regardless of scale, complexity, sector, or geography.

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How we can help

We use proprietary data and processes to assist organisations in the recruitment, development, and retention of risk management leaders with diverse skill sets and leadership capacity to oversee risk in organisational operations. Our consultants also assist businesses in defining and communicating their strategic vision, as well as aligning their teams and processes to ensure positive outcomes even in high-risk situations.

Here are some of the challenges we can help you address:

Recruiting risk function leaders with the right skill set

Risk, control, compliance, and audit leaders require a wide range of skills to succeed in their roles. Above all, they must have the operational capability to implement and execute on risk management strategies. However, they must also have subject-matter expertise and commercial credibility in order to influence a diverse group of internal and external stakeholders. They also require business acumen to oversee business operations as well as strategic agility to model potential outcomes. We can assist you with:

  • Identify the key competencies and skills that your leaders must have in order to excel in a risk leadership role.

  • Examine your current talent to see if you have in-house leadership potential or if you need to recruit external candidates for leadership positions.

  • Create a development strategy to help your in-house talent grow.

Creating a risk function succession plan

The future is one of the most significant risks confronting your risk team. That means that one of the most important tasks for chief risk officers is to think about risk function future-proofing and succession planning. Our consultants have the knowledge and experience needed to ensure that your risk function is prepared for whatever the future holds. We collaborate with you to:

  • Check to see if your current succession plans are producing the leaders you require.

  • Create a Success Profile that aligns with your strategy and culture for each risk-related role.

  • Examine internal talent against your Success Profile to determine whether you should develop and upskill internal high-potential candidates or recruit external candidates.

Risk functions are being prepared for digital transformation

Risk officers must understand the risks and rewards of technology and prepare their organisations for digital disruption. And, as the role of risk managers evolves, data will become increasingly important. Risk managers must be prepared to consider future threats and opportunities using data-driven methods such as scenario planning and risk modelling. Here are a few examples of how we prepare you for a digital future:

  • Determine the key competencies required for your risk personnel to succeed in a digital environment.

  • Create the structures and job descriptions necessary for successful digital transformation.

  • Examine your talent for development gaps, then upskill and reskill it.

Improving organizational alignment between risk and business functions

Risk managers are now much more than "problem solvers"; to be most effective, they must collaborate with other departments such as legal, HR, IT, and finance. Not only must they provide risk insights, but they must also provide value that is related to the overall mission of the business. We assist you in increasing the value of your risk function by collaborating with you to:

  • Create a vision and purpose for the risk function that inspires business compliance.

  • Assemble and align functional teams with risk-management capabilities.

  • Create frameworks and systems to support appropriate business decisions that take risk into account.

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