Purpose
The purpose of Enterprise Risk Management, ERM is to provide an enterprise wide approach across all departments from board level cascading down to line management at the coal face to manage and control risk.
CRM Enterprise Risk Management:
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CRM can assist you to develop and implement an ERM program tailored to suit your organisation with:
- Risk identification in accordance with AS/NZS 4360 - 2004
- Risk evaluation to assess likelihood and consequence of risks
- Development of a Risk Profile with all major risks ranked in order of priority
- Assistance with risk management policy, strategy and training
- Development and implementation of risk treatment and risk control procedures to minimise risk exposures
- Review of insurance program to help ensure adequate risk transfer of insurable risks
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CRM can provide Operational Risk Management Reviews for Clients with mature RM programs:
- Review and update major risks exposures identified and risk treatment systems
- Site risk audits to gauge effectiveness of risk control procedures and risk management strategies
- Review business impact of major risk exposures and business resilience
- Review business continuity plans and confirm adequacy
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Risk Profiler© will help identify and monitor your top 20 risk exposures and:
- Provides the board and senior management with a precise summary of your major risk exposures
- Risks are ranked in order of priority and also graphically displayed on a risk map
Benefits
Potential investors, finance institutions and insurers will all look more favourably towards a well managed organisation where a good understanding of its risk exposures is demonstrated and appropriate risk treatment measures have been put in place.
A good ERM program helps to demonstrate good corporate governance as required by the ASX Corporate Governance Council (principle 7).
