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Enterprise Risk Management..
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"It is easier to get into something than to get out of it. There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns — the ones we don't know we don't know."
-Donald Rumsfeld
-Donald Rumsfeld
IaS's unique ERM framework and capability will make sense of the knowns and manage for the unknowns.
Enterprise risk management (ERM) is a plan-based business strategy that aims to identify, assess, prepare and manage threats and other potentials for disasters that may impede an organization's operations and objectives.
Enterprise risk management deals with risks and opportunities affecting value creation or preservation. It is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.
ERM reflects certain concepts and is:
• A process, ongoing & flowing through an entity
• Effected by people at every level
• Applied in strategy setting
• Applied across the enterprise, at every unit
• Designed to identify events facing the entity
• Designed to manage risk within a risk appetite
• Able to provide assurance to the Board
• Geared to achievement of objectives
Enterprise risk management deals with risks and opportunities affecting value creation or preservation. It is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.
ERM reflects certain concepts and is:
• A process, ongoing & flowing through an entity
• Effected by people at every level
• Applied in strategy setting
• Applied across the enterprise, at every unit
• Designed to identify events facing the entity
• Designed to manage risk within a risk appetite
• Able to provide assurance to the Board
• Geared to achievement of objectives
Industries and Organizations
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The IaS differentiation:
"3 Es" - Expertise, Experience & Excitement IaS is an elite boutique advisory firm with globally recognized partners and associates. We have the bandwidth of expertise in-house and with our affiliates to understand and advise on today's and tomorrow's volatile risk environment. IaS has over 30 Partners and over 300 associate partners in Canada, the UK and Ireland. We provide specialized ERM insight for many industries including: . Banking, capital markets, investment management, wealth management, insurance, law firms; . Pharma, healthcare and medical marijuana; . Real estate, forest products, energy and metals and mining; and . Blockchain and startups. |
IaS's effective ERM program integrates risk management with strategy to generate success
IaS provides a holistic approach to ERM merging best practices with a robust risk attitude
"A beautiful ERM manual is just paper without robust risk governance and culture all linked to risk attitudes embedded in an organization. Implementation without attitude is moribund" - Ken Clarke, Partner
Insight | Advice | Solution
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IaS can help organizations as follows:
. Identify and assess material risks . Evaluate the effectiveness of risk culture and conduct . Evaluate governance, risk and compliance . Evaluate risk responsiveness to strategic, operational, financial and compliance risks . Develop a Risk Appetite Framework . Benchmarking . Align risk strategy with corporate strategy . Create risk monitoring tools to manage and report on changing risks . Assurance mapping to the “three lines of defence” . Facilitating workshops to articulate key risks |
IaS utilizes a comprehensive ERM framework to generate and embed risk controls into organizations
The IaS dashboard
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Some of IaS's ERM tools and solutions:
A cohesive ERM program includes IaS's risk identification, monitoring and reporting solutions |
Risk is an attitude
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“ERM without taking into consideration the links to organizational culture, the governance framework and strategic objectives is just another process that will not achieve its true value.
Implementation without integration is a major risk within itself.” Paul Wallis, Partner |
Risk comes from not knowing
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An IaS ERM framework can significantly help to:
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The Ideal Team
