One of the major trends in risk management isIntegrated Risk Management which is the alignment of enterprise risk management and operational risk management to improve overall decision making and to streamline risk reporting and business processes. Enterprise risk management requires a thorough analysis of causal relationships in developing appropriate business measures and risk mitigation strategies. In the innovative three-stage approach of Tennelli Risk Management, we employ the balanced scorecard approach to identify and align relevant key risk indicators with strategic and business performance indicators, representing Stage One of the process.
Strategic Risk Management for Executives
The outcomes of Stage One are the Initial Strategic Map of the organization which provides the Board and Executives with a clear map of how risk management supports the company business objectives; the enterprise risk management architecture of the company; and an updated enterprise risk register.
In this program we engage the Board and Executives on the following topics:
- The business and economic imperative of strategic and enterprise risk management.
- Highlights of the current developments and advances in risk management.
- An overview of theinnovative three-stage Tennelli Risk Management approach for proactive risk and compliance management.
- The Initial Strategic Map and alignment of risk management to organizational strategy and business objectives.
- Integration of risk management into existing business and reporting processes.
- Economic value analysis of the cost and benefits of risk management.
- Increased employee awareness and engagement with risk management.
- Improved effectiveness of risk communication and reporting.
- Continuous improvement and knowledge management.
- Alignment of risk management to international standards.