Risk Management - understanding threats and building resilience 

Strategic execution remains a major challenge for organisations, with up to 70% failing to execute strategy successfully. Risk Management is a key dimensions of strategic execution, but one that is often poorly managed.

Risk management, particularly strategic and operational risk management, is about understanding the threats to achieving your organisational objectives and the risks associated with your strategic and operational choices. It is about building resilience to manage through challenging times and during a crisis. It is also about developing risk management capabilities to exploit market opportunities and build competitive advantage.

Risk management is an area many organisations find particularly challenging to manage from a strategic execution perspective. Too often regulatory demands are the driver of risk management efforts rather than business imperatives such as revenue improvements, cost reductions or developing organisational capabilities to exploit market opportunities. 

There are a number of different risk management approaches and frameworks to consider. Manigent provides support in a wide range of areas as organisations undertake their risk management programme, whether it is a risk assessment, developing a risk and controls matrix, or deploying a COSO, ARROW or other similar approach. 

If organisations aim to move beyound traditional, 'box ticking' appraoch to risk management, Manigent's Risk-based performance provides a framework to to take a strategic approach to risk management that meets both regulatory and business demands. 

Risk-based performance methodology integrates performance and risk management. It was developed with clients to address the challenges of Basel 2 and Sarbanes Oxley, whilst meeting performance targets. 

To support organisations as they seek to deliver on their risk management agenda, Manigent works with management teams to develop technology-enabled management processes and capabilities in five key areas:

Manage – the capability to balance acceptable levels of risk.

Align – the capability to understand which strategic activities most effectively mitigate risk. 

Monitor – the capability to understand what current and past levels of risk are.

Analyse – the capability to understand why risk is at current levels.

Plan – the capability to model and stress test future levels risk.  

Key benefits from Risk Management

• Reduce risk-related errors and losses.
  
• Reduce costs.
  
• Improve capital allocation and optimisation.
  
• Develop a single, enterprise-wide view of all types of risk. 
• Build a culture that can manage through a crisis. 
• Drive revenue through exploiting more risky opportunities.