Risk Management Framework Reviews

In order to maintain a high level of risk awareness within an organisation there must be an underpinning framework to support and integrate risk management into an organisation. A risk management framework can be described as an organisational structure, responsibilities, procedures (policy and standards) and resources for implementing risk management. It is important to identify those ‘risk management’ activities currently being performed in an organisation as well as identify the gaps in the framework. The RiskTech Risk Management Framework Review will:-

• Assess the existence or effectiveness of key elements of the risk management frame work through organisational wide, vertically integrated, staff attitudinal surveys and Delphi analysis. These include:-

• Management commitment and resources;
• Staff participation and involvement;
• Risk awareness;
• Risk management policy and communication;
• Risk management performance objectives;
• Accountability and responsibility;
• Internal communications and reporting;
• External accountability;
• Risk management document control; and
• Management review.

• Survey existing policies and standards;
• Review legal and legislative compliance processes; and
• Identify strengths and weaknesses in your organisations risk management framework and recommend improvement strategies.

Some of the benefits of this process will be:

• Independent review of the effectiveness of your risk management framework on an organisational wide basis whilst eliciting important feed-back and attitudes of staff;
• Identifies and gives credit for existing risk management activity as well as identifying other improvement opportunities to enhance and develop your risk management framework; and
• Seeks to ensure that at least minimum risk management standards are being addressed through legislative compliance.