Enterprise Risk Management
Every company is exposed to risk from a variety of internal and external sources at various levels of the organization. Risk affects a company’s ability to both survive and thrive in its environment and represents threats to achieving objectives. Risk management is highly complex, with risks often interrelated, requiring extensive knowledge, sophisticated tools and specialized techniques. By necessity ERM has become an integral part of a successful corporate strategy.
Developing risk strategies is not only a necessity but can become a distinct competitive advantage. Threats confronting a company are the same threats encountered by competitors, providing an opportunity to differentiate in a positive way.
AC Lordi works with clients to develop an enterprise risk management framework that provides organizations with a reliable mechanism to enable the identification of risks, assess their potential impact, and develop ways to proactively mitigate them. Our integrated approach provides you with a framework and the necessary tools to better identify and manage risks, as well as opportunities, by leveraging reliable systems and processes throughout your entire organization.
Our ERM consulting services can help you:
- Facilitate identifying and gathering risks, assessing their likelihood and impact, and developing ways to proactively mitigate or benefit from them
- Leverage a Business Risk Assessment into a 3-year internal audit plan
- Ensure the plan is Governance and Board of Directors driven
- Complete a business risk assessment
- Develop a risk management infrastructure including policies and processes
- Develop an enterprise-wide risk management framework
- Train your organization
- Promote better aligned risk appetite and strategic planning
- Align senior management agreement around key business risks
- Strengthen intercompany communication and awareness
- Build internal audit plans and action plans tied to level of risk
- Perform Business Risk Assessment as a Chief Audit Executive or an outside consultant
AC Lordi’s ERM consulting team takes the theory of risk management and applies it in a practical manner. While we work within the COSO framework, we use a common sense approach based on the common language of risk and tailoring it to our client’s needs and objectives.