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Risk Management Health Check
Introduction
Recent years may be regarded as a particularly turbulent time in modern history.
It has been demonstrated that organisations are exposed to a wide range of varied and complex risks, including cyberattacks, supply chain disruption, price inflation, a shortage of skilled workers, and the effects of climate change.
If these risks are left uncontrolled, then the ability to achieve objectives may be significantly disrupted.
The value of an effective risk management approach may have never been greater than today.
Effective risk management frameworks and standards enhance an organisation’s ability to develop a better understanding of the nature, scale and potential effects of its risk exposures, and then take appropriate and proportionate action to reduce or mitigate negative threats and maximise positive opportunities.
The Risk Management Health Check is a multi-level assessment of the degree of maturity and effectiveness of an organisation’s current risk management position. It is designed to provide a third-party perspective on the strengths of current standards and identify opportunities for potential improvement.
The Health Check is based upon the ‘Risk Management assessment framework: a tool for departments’ as published by HM Treasury (2009).
The Health Check focuses upon the following factors:
- Leadership and management (including risk appetite)
- Strategy and policy
- People
- Partnerships, shared risks and resources
- Processes
- Risk handling and assurance
- Outcomes and delivery
It is constructed using a series of pre-determined question sets.
As well as a series of one-to-one interviews with key internal stakeholders, a desktop review of relevant documentation will also be carried out. A wider engagement with the organisation’s management hierarchy can be achieved through the use of an online risk management survey which is based upon the same risk management question sets utilised during the interview phase.
On completion of the review process, a structured report will be produced which will present the primary outcomes of the process, seeking to identify areas of best practice as well as identify any potential opportunities for improvement.
The Risk Management Health Check can be tailored to meet the specific needs of any organisation.
How can we help you?
For more advice on how we can help lower the cost of your risk, please email contact@rmpartners.co.uk
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