The responsibility of risk management in your organization starts with all employees who are customer-facing, business support groups, and the respective process owners who manage them. Additionally, this risk responsibility further cascades across the organization to all lines of business that support and drive your organization’s business objectives with a synergistic approach towards optimal customer experience.

Therefore your organization’s risk management function must be able to deliver a structured approach towards driving awareness programs across your organization to provide your customers with the experience they need and to continuously optimize their experience level.

Ethanrai Group LPs disruptive risk management advisory experts can assist you and your organization to get the most value from your risk management structure by utilizing our Transformational Risk Management TRM framework. Our effective approach towards disruptive risk management controls will enhance your business performance and the achievement of your organizational objectives.

With the rapid industry changes emerging due to regulatory requirements and the pressure to comply, our team of experts is always there to help work with you and your organization to provide assurance and professional advice to help you manage and mitigate your risks so that your business can move forward with confidence.

Some of our key strategies for enhancing risk management within your organization are as follows;

1. The creation or re-engineering of frameworks surrounding risk management within your organization.
2. Aligning frameworks Governance, Risk, Compliance, and all frameworks across all lines of business.
3. Building on optimized risk management leaders and risk management champions.
4. Aligning your risk practices with regulatory requirements, compliance objectives, and governance objectives.
5. Enhancing on your risk due diligence and decision-making capabilities on matters dealing with the effect of risk uncertainties on business objectives.
6. Creating or enhancing your organizational risk registers, heat maps, and risk reporting capabilities.
7. Assist your lines of business with the timely and effective reduction, transfer, or elimination of risk uncertainties through Risk Control Self Assessment RCSA templates.
8. Expanding on your risk assessment capabilities with a functional and granular RACI matrix template across all lines of business.
9. Elevating your organization’s risk register granularity by adding control and data layers using KRI’s, KCI’s and RCSA’s.
10. Performing a re-assessment of your business risk universe, risk appetite, risk thresholds, and risk limits.
11. Assisting in defining your risk, legal, and compliance reporting readiness to regulatory bodies such as the central bank.
12. Embedding workable designed risk assessment templates to standardize risk management.
13. Establishing effective and customized risk frameworks utilizing and adopting key frameworks and guidelines such as Six Sigma, ISO 31000, Basel III, NIST, COSO, ERM, PMBOK, ITIL, and ISACA.
14. Eliminating business process redundancy across your organization through granular gap analysis across people, technology, processes, products, services, internal and external partners, and business sustainability.
15. Introducing a comprehensive GRC knowledge library to elevate risk capabilities and risk awareness throughout your organization
16. Enhancing the integrity capabilities of your organization’s change management framework surrounding GRC, project management, and organizational business objectives.
17. Reassessing your business processes on dual authentication functions or maker/checker functions to minimize and eliminate risk uncertainties.