Making smarter risk decisions

Globalisation and connectivity have ensured that risk is no longer confined to one company, country or continent. The sub-prime mortgage crisis is just one instance of how risk can spread. The regulatory burden is also growing as new laws are introduced and older laws—like the Foreign Corrupt Practices Act—are more rigorously enforced throughout the world.

But some of the risk management systems that have been put in place have actually made companies more vulnerable; they have been designed to address what went wrong yesterday, not what might go wrong tomorrow. Many companies have also adopted a piecemeal approach to risk management.

How PwC can help

We approach every assignment holistically. We listen to your specific concerns and advise you on how best to address these concerns, given your risk appetite. We can help you:

• Define the kinds of risk and amount of risk you're willing to tolerate;
• Link your risk appetite to your business strategy and operations, so that you can choose the risks which offer the greatest commercial potential without adversely affecting the level of compliance you have set for your organisation;
• Make the changes required to ensure that every business unit and function in your organisation consistently makes decisions about risk that conform to your risk appetite; and
• Improve the consistency and efficiency of your systems and processes for controlling risk.