Services
Enterprise Risk Management
Managing risk is as much about seizing opportunity as it is about limiting downsides and uncertainties. It's about exploring the advantages and disadvantages of change management so that you can make swift and informed decisions that deliver competitive advantage, increased value, and other benefits.
It's no longer all about compliance. The future of Enterprise Risk Management (ERM) is more clearly aligned to helping you execute business strategy. It's about faster and more accurate decisions and making better use of limited resources. In some cases, it may even be the key to improving your standing with credit agencies.
Solutions
MorganFranklin works with internal audit, risk and compliance officers, CFOs, and others to design and implement ERM programs that match the unique risks of your organization. Our primary goals are to make it easier to gather the data needed to form a clear view of enterprise risk, identify the advantages and disadvantages of change management, and embed ERM into the fabric of your operations and culture.
To accomplish this, our team of risk management, process improvement, IT, and audit professionals leverage best practices from COSO, UK Combined Code and Turnbull, ISO 31000, Australian Standard AS/NZS 4360:2004, and other risk management frameworks.
We work with you to address governance and accountability. Does responsibility for ERM rest with internal audit, a Chief Risk Officer, or someone else? Is there a need for organizational redesign? Could executive communications be improved? There are best practices, but there is no single answer that fits every business. MorganFranklin guides management through the process of answering these questions.
We also help evaluate and implement tools and dashboards for communicating, monitoring, and reporting risk information across the enterprise.
"Old habits are hard to break. Change management and risk awareness training put everyone on the same page, even leadership, with respect to views on risk and enterprise risk tolerance." Ed Applegate, Managing Director
Our capabilities
- Risk management policies and procedures, including key roles and responsibilities
- Risk profiles, including articulation of risk appetite
- Risk inventories with associated likelihood and impact assessments
- Risk mitigation strategies and action plans
- ERM and GRC tool selection and deployment, including ongoing monitoring and dashboard configurations
Value
- Reduce cost of compliance
- Align risk appetite and risk exposure with strategy
- Build investor confidence
- Reduce unexpected surprises
- Make fast and unified management decisions
- Explore advantages and disadvantages of change management
- Build competitive advantage
- Optimize allocation of resources
- Reduce performance variability
- Enhance corporate governance
