Risk Framework
Establishing a risk framework is one of the most important tasks in any organization, because framework guides how risk will be approached and managed. A set of documents such as risk policy, assessment and management procedures and processes determine how to manage risk. Your risk framework should be tailored to your organization and the environment in which it operates. It also describes how risk should be managed in the organization as well as the people responsible for risk management. The risk framework helps you make business-related decisions and identifies the amount of risk-taking that is acceptable to you. We can help you design your risk framework and use it in your business. Once you have designed the framework, you need to implement it. Implementing a risk framework can be daunting, as risk management overshadows all aspects of decision-making throughout the business. We can help you design and manage the framework, identify key stakeholders you need to engage with, so that once implemented, you will be able to manage the risk that is embedded throughout your business. Once you have implemented the risk framework, you can proceed with the implementation of risk identification, assessment, monitoring and reporting processes.
