Enterprise Risk Management
Enterprise Risk Management
Enhancing and protecting value: Risk management’s crucial role in strategy execution
In an ever-changing world the interdependence of strategy and risk management has become more conspicuous. A Board’s appetite for risk (whether seeking it or avoiding it) inextricably influences the organisation’s strategic intent; which in turn drives the focus, culture and decision making from Executive to operational level.
These dynamic business imperatives, coupled with challenging governance and regulatory requirements are prompting a more conscious focus on enterprise risk management (ERM), and the need to embed fit-for-purpose processes and management practices.
Furthermore such efforts can no longer exist as ‘ring-fenced’ functions with a constrained focus, but need to be more holistic, agile and integrated—the competitive landscape demands it, regulators expect it, and securing value, growth, and organisational resilience requires it.
The most successful and sustainable companies in the future are going to be those that seamlessly amalgamate their strategy and risk management practices.
How we can help
KPMG has experience and capabilities across all aspects of ERM implementation and its role in strategy execution. We help Boards, Audit and Risk Committees, Executives, and Risk Officers with:
- Identifying, consolidating and/or refreshing the organisation’s risk profile (i.e. the top-down view of material risks to the organisation’s objectives);
- Defining and articulating risk appetite, and associated indicators and targets to guide strategy execution;
- Assessing the maturity and suitability of the organisation’s ERM governance and practices;
- Designing, developing and supporting the implementation of ERM frameworks;
- Assessing the organisation’s risk management culture and identifying enabling interventions;
- Developing and delivering risk management training that enhances risk management awareness and competence;
- Developing appropriate risk management monitoring, evaluation and reporting tools and practices for material risks and key controls;
- Evaluating and aligning risk and assurance processes, and
- Assessing risk management data practices and assisting in the identification of appropriate technologies to support ERM and business reporting.
Our services to you are based on KPMG’s globally proven ERM methodology. In supporting you to develop and enhance your ERM requirements you would not only be accessing our core team of ERM professionals, but drawing on appropriate industry and technical practitioners and global thought leadership. Accordingly we can help you with specific sector-based requirements (e.g. financial risk management) and/or specific risk themes (e.g. cyber, fraud, sustainability and health & safety).