Identifying the risks facing your business and having a mitigation plan is critical in today’s operating environment.
Identifying and understanding risk in today’s environment can be daunting. Risk management utilizes data analysis in the continuing process of identifying potential risks and taking steps to mitigate or eliminate those risks. Risk management is an important business driver that is sometimes overlooked. Understanding and balancing risk with the cost of mitigating that risk is key to validating and making informed decisions.
Ridegell Consulting‘s Enterprise Risk Managers use a systematic and integrated approach to help guide high-impact business decisions. Defining your risk profile and understanding your risk appetite is key to making smart choices. We can guide you through the risk framework to help you make informed decisions that really matter.
What is your risk appetite? What are the biggest risks that could affect your ability to conduct business? Be proactive and evaluate your current risk to stay on top of things.
What are the major threats you are facing? Are they industry-driven or based on your company’s structure? Understanding threat scenarios can help you anticipate and plan for them.
How do you stay on top of risks? What is a high priority and what is not? Are all the mitigations in place? A robust Risk Management Process is proactive and always monitoring, so you will be prepared if and when you need to be.