Riskonet analyses risks and provides thorough and sound advice regarding potential, known and inadvertent consequences. In our Assessment & Consultancy practice, we advise on risk-reduction investments to optimise business resilience.
The concept of managing risk is nothing new, to both small and large organisations. Irrespective of whether you operate in the public or private sector, your organisation’s strategic objectives are exposed to risks.
The type of risks an organisation is exposed to depends on the strategic objectives that are set, as well as the ability of its management to adequately identify the opportunities and threats that these bring to the fore. While many risk programmes are developed to deal with compliance and legislation, some of them fail to capitalise on the opportunities that deliver the kind of results that will support sustainable growth and improve business resilience. Mature risk organisations often perceive lost opportunities as more significant threats to the continuity of the enterprise than merely addressing the threat of fines and penalties.
Our experts have years of experience as consultants. They are observant and pragmatic with a well-developed instinct for business economics. They have an aptitude for always finding solutions and possibilities. Riskonet translates and gathers these solutions, possibilities and their practical application in a Principles Document (PD) as well as a Requirements Programme, which collectively serve as the starting point for developing a leading risk policy.
Our solutions take into account an organisation’s strategic objectives, where the focus is often on value creation. These strategic objectives are broken down into three key areas:
1. Human capital
2. Other assets
Once the strategic objectives have been developed for these three pillars, the associated threats and opportunities are defined and evaluated. Each outcome is assessed against a cost and benefit feasibility framework required for executive decision-making.
How we assess risks: FMECA
On our client-specific ‘Failure Mode Effect & Criticality Analysis’ (FMECA), Riskonet assesses the potential risks that companies are exposed to. Our experts assess the probability of these risks, as well as their potential impact, after which they compile a qualitative evaluation. In consultation, we then determine which of these risks and impact scenarios are acceptable or unacceptable, and which damage limitation measures can be taken.
To develop bespoke solutions for our clients, we apply a combination of analytics, actuarial modelling and our expertise. Clients acquire superior information to incorporate into their decision-making processes, integrated-risk reporting, and capital allocation for application in operational and financial-risk considerations. Our suite of services encompasses a wide range of enterprise and insurance-risk modelling and concomitant management, reporting, accounting and assurance services.
ASSET SAFETY FOR LOCATIONS: GAAS
Companies want to maintain control; after all, the security and continuity of their operations are always paramount. This is why asset safety is an important item on Riskonet’s agenda. Thanks to the design of the ‘Gap Assessment Asset Safety model’ (GAAS), Riskonet can offer a comprehensive scheme for asset safety on location. Riskonet specialists always examine the complete combination of current legislation and regulations, company continuity and the insurability of the assets. Any shortcomings and other findings are included in a report, along with a proposed solution to achieve the required outcome. If necessary, and in consultation with the client, specific improvements can be found on the areas of:
• personal safety and evacuation;