Risks are an inherent part of your organization. The structural and consistent identification, evaluation and management of these risks is called ‘Risk Management’. With good risk management you can anticipate obstacles and threats that may have a negative impact on the achievement of your objectives. In addition, you also want to respond in an optimal and timely manner to the chances and opportunities that present themselves along the way.
In short, with risk management you recognize the reality with all its uncertainties to which organizations are exposed. But above all, you deal with these uncertainties in a controlled manner which puts you more in control of your organization.
Identifying, evaluating and managing your risks
The most important risks are of course no longer a secret for you, but you are still not completely at ease with them.
- Have all risks, including those that occur less frequently, been identified?
- Are new and changing risks within a rapidly changing and complex business environment sufficiently taken into account?
- Are there possibly also some ‘blind spots’ within the organization and is it difficult to put your finger on the problem?
In a first step, our experts will provide a fresh view on your organization in order to jointly identify the risks as well and as completely as possible. These can be strategic, financial, operational, legal or technological risks. The identification of risks ultimately results in a ‘risk universe’.
With a clear understanding of the existing and relevant risks, it can be determined whether sufficient control measures have been developed and whether the remaining risk is acceptable to you?
In this way the risk universe is translated into a risk and control matrix (RCM). This matrix gives you a visual overview of the risks identified, the control measures in place and the final remaining risk scores.
Finally, for the risks to which your organization is exposed and which you do not consider acceptable, actions are taken to sufficiently control these risks. This can be done by means of internal control measures, which are tailored to your organization and take into account the benefits and costs of these controls.
How can we help you
- Carry out an organization-wide risk assessment and set up a risk register.
- Support in setting up an integrated risk management (second line of control) within the organization.
- Expertise on Enterprise Risk Management (ERM) and ISO31000: Risk Management.
- Expertise on the COSO internal control framework.
- Carrying out a risk assessment in order to set up your Internal Audit Plan.
- Specific risk analyses with regard to, for example, IT (for example security, IT systems, etc.), Compliance (for example anti-money laundering legislation, GDPR, etc.), Operations, etc.
Every industry and organization have different regulatory risks and these regulations are constantly changing. Bypassing or ignoring the complex regulations can lead to heavy fines, loss of internal control and even prosecution.
We can help you anticipate regulatory changes, implement new laws and regulations, develop pragmatic solutions, and we also help you adapt your organization to be in line with the requirements of new regulations or rules within your sector or market.
Information technology and data protection
Technological risks threaten your assets and the processes that are important to your business and can not only prevent compliance but also affect profits and damage your company’s reputation within the industry. Protecting information such as operational and financial data, customer data, intellectual property, identifiable personal information or protected health information is key in any business today.
Our multidisciplinary approach makes the difference by bringing together experts in risk consulting and IT services to provide you with practical solutions that are fully tailored to your needs and concerns.
Fraud risk and ethical risk
Whether you are concerned about a specific fraudulent activity within your organization, or it is time to start a preventive anti-fraud program, your interests and those of your business partners are of paramount importance to us.
In particular, we can assist you in preventing fraud by helping you design the controls necessary to identify and mitigate your fraud risk areas,. When parties decide to go to court or to work out an amicable settlement, we can provide expert advice on the financial dispute, both at the request of the court and at the request of one or both parties.