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In a world of increasing complexity, companies, public sector bodies and voluntary sector organisations must manage risk more rigorously than ever. It is an essential aspect of good corporate governance today.

Surprisingly, however, many still fail to do so, perhaps because they are overwhelmed by the size of the task or because they lack the expertise to tackle it. Even more worrying some remain blissfully unaware of the nature of the risks they face.

Thorough risk management strategies can enable businesses and other organisations to identify possible threats - be they legal, financial, environmental or operational - and to introduce systematic plans for mitigation. Those companies and organisations that adopt this type of logical and structural approach to business risks are much more likely to survive and prosper.

The balance between risk and reward is the very essence of business: you have to take risks in order to generate returns and, generally speaking, higher returns involve greater risks. However, there is a difference between risks taken as a result of careful judgement and those taken unwittingly.

What can we do to help?

We can help companies and other organisations to develop a sound strategy for managing business risks, reducing their vulnerability to threats, both present and future. Such a strategy would also assist in the day to day management of the business, and help them to benefit from a reduction in costs and insurance premiums.

What are the specific areas we can cover?

Value and cost

  1. Risks that matter - the key risks
  2. The changing face of risk
  3. Reputational risk

Change and continuity

  1. Programme performance - governance gap
  2. Enterprise risk management
  3. Capital projects
  4. Risks in the supply chain
  5. Business continuity
  6. Service interruptions

Governance and control

  1. Corporate governance
  2. Governance and management systems
  3. Implications of Sarbanes-Oxley

Integrity and accountability

  1. Environmental, social and ethical disclosure
  2. Corporate social responsibility: opportunities and risks
  3. Political risk

Legal considerations

  1. Anti-competitive practices
  2. Commercial and professional indemnity
  3. Directors' liabilities

Financial risks

  1. Controlling financial risks
  2. Quantifying uncertainty
  3. Fraud

Knowledge and systems

  1. Intellectual property
  2. Information at risk
  3. Information security

At work

  1. Creating a safe working environment
  2. Employment practices
  3. Health & Safety
  4. Occupational Health
  5. Employee absence

Catastrophe and loss

  1. Flood
  2. On the road
  3. Asbestos
  4. Fire

Summary of the key help we can offer.

  1. An assessment of your current risk management strategy
  2. Helping construct a risk management strategy
  3. Company wide training programme to help ensure that all staff not only understand the risk strategy, but also take responsibility for implementing and updating as necessary, therefore, taking personal action to minimise risks
  4. A leadership and management programme on risk management which covers all or some of the specific areas identified previously