Effectively mapping the fluid and tiered nature of risk across different areas of the business is challenging, but critical. Learn how Enterprise Risk Management can help you identify interconnected risk elements and cascading impact.
Enable timely risk-informed decisions for the enterprise
Connect the dots across the enterprise
Track objectives
Identify risk against business objectives to prioritize initiatives for successful outcomes.
Map impact
Build a dynamic risk taxonomy to better understand total impact, aggregation, influence and the concentration of risk.
Manage risk
Define risk appetite to evaluate your posture and effectively enable decision making for downstream risk owners.
How an effective enterprise risk program empowers the business
According to McKinsey, [businesses can] reduce costs by 15-25% on a gross basis, while increasing risk effectiveness through a well-structured risk transformation program.
Organizations’ disconnected data sources and risk ecosystems across domains often lack valuable context at the enterprise level. Without a shared ecosystem for repeatable automation and consistent data input, manual stopgaps can lead to uncertainty in the confidence of your stated risk posture.
Key considerations for scaling enterprise risk:
How many risk registers is your organization managing today?
How dynamic is your risk taxonomy (depth, categorization, etc.)?
Without defined thresholds to guide decision making, owning risk decisions can be an ambiguous task where stakeholders feel under-directed. Risk appetite and posture management requires time and strategy to establish and get right within the organization, once your strategy is stable across various use cases.
Key considerations for scaling enterprise risk:
What data should factor into your risk appetite?
How does the business access documentation to drive action?
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