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 performance and meeting agency priorities.
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 agency 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, ISO 31000, FISCAM, and other risk management frameworks.
We work with you to address governance and accountability. Does responsibility for ERM rest with the CFO or Chief Performance Officer? Is ownership at department or agency level? Is there a need for organizational redesign? Could executive communications be improved? MorganFranklin guides agency leaders 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 agency.
"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
- Optimize allocation of resources
- Reduce unexpected surprises
- Identify performance variability earlier
- Make informed and unified management decisions
- Explore advantages and disadvantages of change management
- Reduce performance variability
- Establish clear governance
- Instill accountability
- Protect value assets
