Enterprise risk management: Mitigate threats across your organization

James McDermott, Insurance & Risk Advisory Services: The changing face of risk and risk management in the insurance sector
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Enterprise risk management (ERM) is an information-gathering and decision-making function that can help an organization and its leaders understand risk with a perspective on real-time impacts, their relevancy, interactions and offsets across the enterprise. A successful ERM framework must be dynamic and rooted in access to data. This means the framework and processes are easily understood by both end users and senior leadership, content is changeable and applies throughout the business to create priorities and actionable decisions.

We use our risk diagnostic methods and tools to assess and quantify potential risk impacts, analyzing risk frameworks and organizational risk performance. Our dynamic process identifies key risk correlations and helps our clients build road maps for risk improvements and problem-solving.

An integrated ERM framework allows organizations to focus on business strategy while successfully managing risks within the enterprise and those posed by external forces.

We help you understand and implement risk-based strategies by:

  • Evaluating and quantifying risk exposures, and optimizing and aligning strategies to risk tolerances
  • Assessing culture through risk maturity assessments
  • Using analytic tools, including proprietary risk analysis and modeling tools and scenario generation analysis (learn more)
  • Deploying easy-to-use dashboards, reports, frameworks and process flows
  • Analyzing and maximizing risk capital usage and profitability

Our ERM services include:

  • Enterprise risk identification, quantification, monitoring and reporting
  • Enterprise risk management framework, program and process assessment, and design and implementation
  • Regulatory and compliance advisory, including heightened standards and expectations
  • Risk incident evaluation, response and crisis management
  • Linking risk management to company strategy, and capital and liquidity planning and contingency management
  • Linking risk management with recovery and resolution planning and management
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