Corporate risk management capabilities are becoming increasingly important as the business environment becomes more volatile, shareholders’ expectations for risk management escalate and regulators are placing increasing expectations on directors and executives.
Organisations may be required to develop a risk management capability across the enterprise, or a more focused model focusing on selected business segments, selected categories of risk, for example, insurable risks, or on investment project risk appraisal.
At an enterprise or firm level, PwC can assist companies in developing a robust framework for risk management and integrating risk management with existing core business functions, for example, commercial operations, planning, budgeting and reporting, to protect and enhance shareholder value.
How PwC can help you
Our PwC approach to enterprise wide risk encompasses:
- Assessing an organisation’s current approach to risk management against global and industry peer group benchmarks
- Assessing the most appropriate strategy for managing risk – including consideration of balance sheet capacity for risk, alternative risk transfer mechanisms, insurance versus self insurance, enhanced controls or other risk mitigating strategies
- Assessing the risk management culture and how it may be improved and sustained within the business
- Complex risk framing and modelling, decision analysis/options analysis, and diagnostic review of corporate/enterprise risk frameworks
- Identifying and analysing risks that may impact the successful execution of a project or investment decision
- Identifying key risks impacting the execution of the business plan and assessing the effectiveness of overall risk management
- Improving the quantification and measurement of risks, risk probability and impact
- Reviewing the insurance and self insurance strategies through risk finance and insurance assessments
- Undertaking post incident reviews and assessing immediate response strategies.
