Risk Assessment and Response

Risk Assessment and Response

Despite a company’s best efforts to clearly develop and work towards its key business objectives, unforeseen – and often preventable – risks can stand in the way of success.

The first step in effectively limiting these threats is to perform a comprehensive risk assessment: to uncover uncertainty and to prioritize key areas of concern and potential coverage gaps. Based on any deficiencies in process or controls, valuable improvements can be implemented to increase effectiveness of business processes and improve the company’s ability to reach its goals.

By applying Navigate’s objective approach, organizations are able to more definitively predict specific risks; define how they are linked to goals, initiatives, and business processes; and agree on which risks could most seriously impact their business. Once critical risks are diagnosed and defined, Navigate advises on the design and execution of process improvements that represent management’s response to high priority risks.

Your company will benefit if you have:

  • Experienced risk management failures in the past that have negatively impacted market value
  • Corporate risk and support functions that are not aligned with the company’s strategic objectives, performance measures, and associated risks
  • A lack of visibility into whether the risks you are taking are directly driving the business or providing a competitive advantage
  • A desire to ensure your company’s risk exposure is consistent with its risk appetite
  • The need to improve corporate governance structures and processes
  • Overlapping and fragmented risk functions, or inconsistent approaches to managing risk across the business
  • The sense that you have gaps or overlaps in your risk coverage
  • A high degree of regulatory scrutiny, or must operate within new legislative or regulatory requirements
  • Turnover of the audit committee, executive team, internal audit director, or chief risk officer – or if the current leadership team is demanding greater focus on risk management
  • Been asked to address concerns related to audit findings or compliance issues
  • Risk-related concerns regarding a specific business area or initiative
  • Been dealing with significant change; new environments usually equal new risks
  • A specific need to increase revenue and / or lower costs

What You Can Expect from Navigate:

  • Practice leadership with 15+ years of experience helping organizations of varied size, sector, and maturity conduct risk assessments
  • Proven and objective approaches to assess or improve how your company manages risk – enterprise-wide, by function, and/or by project or program
  • Greater visibility and more rigorous prioritization of particular threats to your company’s objectives
  • Detailed, cost-effective recommendations for risk remediation – based on industry knowledge, experience, and your specific strategic goals
  • Change management support, as needed, to implement new or improved risk management standards and processes
  • Better-managed risk
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Change Management Done Right
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