Risk Management Service

Gaining visibility into and control over the multitude of internal and external risks is one of the top priorities of corporations today. With a recent jump in regulatory mandates and increasingly active shareholders, many organizations have become sensitized to identifying areas of risk in their business, be it financial, operational, IT, brand, or reputation related risk. They are looking to systemically identify, measure, prioritize, and respond to all types of risk in the business, and then manage any exposure based on business strategies and priorities.

Risk management is attempting to identify and then manage threats that could severely impact or bring down the organization. Generally, this involves reviewing operations of the organization, identifying potential threats to the organization and the likelihood of their occurrence, and then taking appropriate actions to address the most likely threats. Traditionally, risk management was thought of as mostly a matter of getting the right insurance. Insurance coverage usually came in rather standard packages, so people tended to not take risk management seriously. However, this impression of risk management has changed dramatically. With the recent increase in rules and regulations, employee-related lawsuits and reliance on key resources, risk management is becoming a management practice that is every bit as important as financial or facilities management.