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Risk Management

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Risk Management

Navigating risk in a volatile world

Are the right people making the right decisions to protect your organization and your bottom line?

With great risk management comes great opportunities. And today’s environment of constant change and disruption presents more risks to businesses than ever before.

In these challenging times, organizations need a sophisticated, experienced risk management and control function to protect their business, customers and shareholder value. Risk managers must balance their need for innovation against future risks in an environment where the stakes are higher than ever. Just one poor decision can have a seismic impact on a company’s reputation and bottom line. In short, risk managers can no longer simply monitor and warn; they must now lead—and lead capably and wisely.

Our risk management practice uses proprietary data and tools, alongside the expertise and perspective of our world-class consultants, to help organizations attract, develop, engage and elevate their risk management leaders. We apply proven strategies to build and align functional teams, shape organizational culture and develop and coach leaders to act confidently—even in the face of daunting risk. Regardless of scale, complexity, sector or geography, we help organizations and individuals equip themselves with the skills and competencies essential to top performance in the most challenging environments.

How we can help

We use proprietary data and processes to help organizations recruit, develop and retain risk management leaders with the varied skill sets and leadership capacity to oversee risk in organizational operations. Our consultants also help businesses define and communicate their strategic vision, then align their teams and processes to ensure positive outcomes even in the highest-risk environments.

Here are some of the challenges we can help you address:

Recruiting risk function leaders with the right skill set

Risk, control, compliance and audit leaders need a variety of skills to thrive in their role. Above all else, they must have the operational capability to implement and execute on strategies designed to effectively manage risk. But they also need subject-matter expertise and commercial credibility to influence a complex group of internal and external stakeholders. Plus, they need the business acumen to oversee business operations and the strategic agility to model for potential outcomes. We help you:

  • Identify the key competencies and skills that your leaders must possess to excel in a leadership role in the risk function
  • Assess your current talent to determine whether you have in-house potential or need to recruit external candidates for leadership roles
  • Create a development strategy to build the skills of your in-house talent

Building a succession plan for the risk function

One of the biggest risks facing your risk team is the future. That means one of the biggest tasks for chief risk officers is to consider future-proofing and succession planning for the risk function. Our consultants have the expertise required to ensure your risk function is ready now and for whatever the future holds. We work with you to:

  • Determine whether your current succession plans are producing the leaders you need
  • Create a Success Profile for each risk-related role that aligns with your strategy and culture
  • Assess internal talent against your Success Profile to determine whether to develop and upskill internal high-potential candidates or recruit external candidates

Preparing risk functions for digital transformation

Risk officers must be aware of the risks and rewards of technology and prepare the enterprise for digital disruption. And, as the role of risk managers continues to evolve, data will play an ever more important role. Risk leaders must be prepared to use data-driven methods, such as scenario planning and risk modeling, to consider future threats and opportunities. Here are some of the ways that we prepare you for a digital future:

  • Identify the key competencies your risk personnel needs for success in a digital environment
  • Build the structures and job definitions required for successful digital transformation
  • Review your talent for development gaps, then upskill and reskill your talent

Improving organizational alignment between risk and business functions

Today, risk managers are much more than the “problem police”; to be most effective, they must partner with other departments, including legal, HR, IT and finance. And, not only must they deliver risk insights, but they must also deliver value that ties into the business’s overall mission. We help you improve the value that your risk function delivers by working with you to:

  • Create a vision and purpose for the risk function that inspires compliance from the business
  • Assemble and align functional teams with the capacity to manage risk
  • Develop frameworks and systems that support appropriate business decisions that consider risk implications
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