Risk

Developing an effective risk management framework involves a rigorous analysis of the context within which risks might arise, a robust assessment and evaluation of those risks, and a realistic and pragmatic determination of how to respond to risk in practice.

We can develop and tailor risk management frameworks to help ensure that they will actually work in practice. We can also develop policies, procedures and training materials to implement these frameworks.

When done well, risk registers can be a sound foundation to manage risk, particularly the risk of non-compliance with regulation. However, identifying which risks should be included in a risk register and how that information should be captured can be challenging.

We can develop and review risk registers and also assist with their integration into organisational structures and practice.

Government and business may face regulatory compliance risk. For government, there is a risk of regulated entities failing to comply with regulation, but there is also a risk of government not complying with its own obligations imposed under regulation as well. Businesses face compliance risk for failing to comply with regulation applicable to their activities.

We are able to assess compliance risk in each of these contexts, develop compliance risk registers, and design frameworks to manage compliance risk.

An organisation’s capacity to effectively manage risk depends critically on how risk is governed internally. Governance refers to the spectrum of mechanisms to control risk, including organisational structure, accountability and reporting obligations, and operational and decision-making protocols.

We can evaluate existing risk governance mechanisms and recommend how such mechanisms can be improved.