Enterprise Risk Management

At RMI we enable companies to put in place a structured framework for managing their business risks.

The two key questions which any such process must provide satisfactory answers to are:

1. What are the big ‘iceberg’ risks which your company could face?
2. What steps are being taken to manage those risks?

RMI offers Risk Management Programmes that provide clients with a structured framework for managing risks and ensures the preparedness of an organisation to manage critical incidents.

A Strategic Risk Review is a process designed to assist senior managers to identify the key risks faced by their organisations and to assess the probability of those risks arising as well as their estimated impact on the organisation in the event that they do arise.

The review looks at risks on an organisation-wide basis, focusing on all risk categories, not just the traditional categories of finance and operations.

This is intended as a high level study focused on those risks which in terms of either scale or nature have the potential to seriously impact the organisation, either financially or operationally up to the point of threatening its actual viability.  

While it is very important that risks of a lower order are also well managed, for the purpose of this exercise it is assumed that the management of those risks is provided for within operational procedures at middle management, supervisor and operator level.

Key Benefits  

The process aims to deliver the following key benefits:  

·         Provides a framework for identifying, assessing, mitigating, monitoring and reporting of risks  

·         Raises awareness of risk management among senior executives and board members and builds greater confidence around how the organisation manages risk and reports on those efforts  

·         Furnishes management with the critical information necessary to make informed decisions around how it manages its key risks

·       Creates a ‘joined-up’ risk management process within the organisation which seamlessly links actions by senior management to actions taken on the ground or at the various points of failure, and results in the production of a ‘Register’ of risks (Risk Register) which provides the organisation with a framework for capturing, actioning and reporting on those risks going forward.