Why you should manage your risks!
Unfortunately, risk management is frequently still seen as a necessary evil that needs to be implemented due to statutory rules or supervisory regulations, and not as essential part of the value chain. Therefore, existing Risk Management Systems often become orphaned files.
Under Risk Management we understand the organizational rules to recognize and to handle risk of corporate activity with the goal to secure company assets and corporate development as a whole.
As a first step, risks must be detected and their probability of occurrence and impact on critical business objectives assessed. In a second step, these risks have to be managed (avoid, prevent, transfer, finance).
We developed a Risk Management approach, that, beyond fulfilling legal requirements (Compliance), can significantly contribute to the strategic corporate governance and the value chain. Thereby risk management makes an essential contribution of the controlling.
The following are the goals of our Risk Management Consulting:
Risk Management Consulting
Our expertise in the field of Risk Management lies in the areas of
The goal of the examination of your Risk Management System is to systematically capture its current state.
We base this process on a differentiated target concept, that we develop together with you based on our experience, optimize it for your needs and orient it to a best practice standard. In doing so we also take into account modern examination standards like the PS 981 of the IDW or the DIIR Revision standard number 2 of the German institute for internal revision
As a result you get a solid report with a profile of strengths and weaknesses and concrete proposals to optimize your Risk Management System and the positive development of your company.
The goal of the introduction of an extensive Risk Management System is:
- To work out the critical success factors of your company and identify possible risk in a workshop with your management or board
- To rate the bearing, the probability of occurrence and the quantitative impact of the identified risks and to examine if individual risks can aggregate to become an essential risk
- To identify indicators for early warning and to define values to recognize risk;
- To establish a surveillance and reporting system and to create a Risk Management Manual
Through an easy Risk Management Tool based on Excel, we support the decision process for the implementation of a complex Risk Management Tool
As a result of our service you will get an extensive Risk Report and a practical Risk Manual.
Management respectively the board can use the Risk Management System actively to guide the corporate management. The measures initiated by the Risk Management hence gain an investment justification, as only such measures are executed, that serve the positive development of the company.
The goal of an optimization of the existing Risk Management System is to adjust your system in a way that your company gains additional value.
Substantial weak points in existing Risk Management Systems lie, according to our observations, in the lack of focus on the most important risks, in a lack of control over the measures and in an insufficient early recognition.
As a result we will, after exercising your Risk Management System, review the necessary steps to optimize your system with you, create an individual project schedule and accompany you through its implementation.
In the sense of the Risk Management Processes (identification – assessment – accomplishment – financing) the operational insurance builds a traditionally important component of the financing of risks.
The goal of our Insurance Consultancy is the analysis and optimization of your insurance protection. By that we don’t mean a consistent insurance of all risks, but a thoroughly coordinated system of risk reduction, insurance and self-borne risk in the sens of a wholesome “Insurance Risk Management”. Our consultancy and resolution approach focuses on the total cost of risk an thereby a value oriented guidance of risk transfer strategies. We
- analyze and optimize your insurance protection
- align your insurance portfolio and the risk situation
- examine the insurance premium on market conformity
- help with the best possible conclusion of an insurance contract
- help with the optimization of existing insurance contracts
- develop together with you individual insurance solutions
- advise you with the organization of your insurance department
- accompany you with implementing a networked Insurance Risk Management
- support you in the process of merging the Risk and Insurance Management
As a result you will benefit from a complementary system of risk reduction, insurance and self-borne risk, that we will present to you as report and we will help you with the implementation of our advise.
In addition to consulting services we offer trainings and a certification course on the topic of Risk Management at our course center or individually at your company.