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Corporate Risk Assurance

Corporate Risk Analysis

Are you confident that the Safety & Security risks are being effectively prioritised and mitigated?

 

Safety/Security rarely has a specific expertise at board level, with organisations assigning responsibility for managing to a variety of different C-Level positions, using specialist teams or advisers to support.

 

The level and type of support usually depends on the nature of the risks and the size of the organisation, however this doesn’t remove the accountability.

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Accountable Directors often have questions and concerns relating to the risks being managed, along with the effectiveness of procedures and control measures implemented by specialist teams.

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  • Are control measures as robust as other similar organisations?

  • Is there clarity around the key risks being managed, and main exposures which currently exist?

  • Do the updates provided by your Safety/Security teams, align with the updates from your operational leaders? Could there be conflict?

  • Is there potential that key risk information could be held back due to reputational protection, operational priorities or a lack of budget?

  • Does the current risk management strategy reflect perceived risks?

  • Is there a balance in reporting between Proactive Risk Management and Reactive Incident Data?

631 Risk Management Solution:

  • Using a defined 3 step methodology, our process conducts a thorough review of the current arrangements, ensuring the internal ‘risk analysis’ process is robust and accurate.

  • Providing a direct source of independent and competent risk advice, Accountable Directors will gain increased assurance, knowing key processes for prioritising issues, and the effectiveness of mitigations have been extensively reviewed.

  • We can also provide long term strategic support, monitoring progress against objectives, attending key risk forums, or representing the business on specialist projects.

Benefits:

  • Delivers an independent assessment on the status of significant risks being managed

  • Provides competent and impartial advice on risks enabling you to take informed decisions

  • Removes internal politics from critical decision making processes

  • Produces competent risk reports or briefings which can be given directly to the board

  • Enables honest conversations around the effectiveness of your internal teams or external advisers

  • Demonstrates proactive risk management approach being taken

  • Gives you peace of mind that you have undertaken your own legal duties

C-Level Risk Briefings

Exec Team Risk Briefings

These are essential tools for informing senior leaders about levels of accountability and their role in managing critical risks and potential threats managed by the business 

​An effective risk briefing will fully endorse the wider risk strategies across the different risk functions of the business, however, finding a supplier you can trust to do this for you can be a challenge?

 

  • Will they contradict some of the measures you have been implementing?

  • Could they affect personal or subject credibility with the Senior team?

  • Does their content have sufficient substance to maintain attention of a Senior audience?

  • Is this a one-off session or will it provide me a stepping stone to achieving wider goals?

631 Risk Management Solution:

  • With over 20 years risk management experience working across 4 industries, I have developed a wide range of risk scenarios and case studies which can be used to tell a multitude of different stories.​

  • Credibility is absolutely paramount for me, and providing key stakeholders a level of comfort in my ability to positively represent them in front of an impatient and possibly distracted senior team is a priority.​

  • Agreeing priorities and expected outputs in a series of workshops prior to the session, is absolutely vital to ensure that the once per year opportunity is fully utilised, and you can then deliver the benefits in to your overall risk strategy.

  • Having undertaken a session, the senior team will have a much deeper appreciation around managing risk, and some of the difficulties and subjectivities that go on throughout the process.

  • Through this, they will be aligned more closely on the mechanics of developing the current risk strategy, and understand that it is strongly risk focussed and developed via a diligent and considered process.

  • This wider appreciation and alignment should significantly assist with the nature of engagement and input within current corporate risk forums, as well as future risk briefings and discussions around arising risks.

Benefits:

Independent Risk Advisor

Independent Risk Advisor

Overall accountability for Safety/Security is commonly the responsibility of a C-Level leader, without specific understanding around risk exposures and legal requirements.

 

Whilst you have competent ‘in house’ teams with responsibility to manage risks, internal politics, corporate priorities and other business issues can often impact the risk management process

 

  • Are you confident you know the key risks?

  • Do the updates from Safety/Security Leaders, align with those from Operational Leaders? Could there be a conflict?

  • Does the risk management strategy reflect your concerns?

  • Is there an open reporting culture which incorporates proactive risk analysis and reactive incident data?

  • Are control measures as robust as other organisations?

  • Do you have sufficient resource/competence?

631 Risk Management Solution:

  • Partner with organisations to assess current processes and provide independent review

  • Align with Safety/Security and Operational teams

  • Understand corporate priorities and operational structures

  • Review ‘plausible’ high impact scenarios

  • Assess content, awareness and compliance of documentation and procedures

  • Produce a formal report (distribution as required)

Benefits:

  • Independent analysis on the nature/status of significant risks

  • Scenario testing on the effectiveness of controls

  • Potential for reduced premiums through insurers

  • Significant risks benchmarked against similar industries

  • Production of a report which can be presented to relevant C-Level stakeholders

Recruitment Support & Restructure

EXECUTIVE RISK CONSULTANT - INTERIM

From experience, regardless of the industry, when a Safety/Security Leaders announces they will be leaving an organisation, it initiates a period of uncertainty where Senior Management and HR are left with difficult decisions around the next steps.

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Safety/Security Leaders aren’t normally positioned at Board level, with organisations assigning it to report into a variety of different C-Level positions. Whatever the reporting line, Accountable Directors rarely have in depth knowledge and are usually led around the nature and priority of risk by the Senior HSSE Leader.

 

With the change pending, it will often generate questions and potential concerns relating to current risk arrangements, along with the levels of experience and competency required for the position:

o    Are you confident that key risks have been accurately identified and are being managed?

o    Is the current department structure properly managing the risks of the organisation?

o    What level of professional competence do we need for the role?

o    Was the previous role holder the correct fit or are we looking for a different approach?

o    Does one of the existing team have sufficient experience to be promoted?

o    Are the potential candidates inflating levels of their own competence?

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631 Risk Management Solution:

  • Following a defined 3-step process, we carry out a full State of the Nation review of arrangements (preferably with support from the incumbent), using our extensive experience to understand specific challenges from a cultural and hierarchical perspective.

  • This enables production of a detailed assessment or senior level briefing regarding the maturity of HSSE risk management in the company, along with evaluating potential options for moving forward with the recruitment process.

  • Provides an independent assessment about identification and mitigation of significant risks

  • Positive update to Senior Management that a full review is being completed before recruitment

  • Prevention of information vacuum between person leaving and the next starting

  • Ensures a Senior Level HSE role is in position for critical risk decisions

  • Benchmarks HSE structures / performance against other organisations

  • Increased profile for HSE with Senior Management

  • Bespoke interview process designed with competent support

Benefits:

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