UNISA 2006. Nicky Downing – CEO Guideline Risk Technologies Africa (Pty) Ltd. Presentation Objectives.
Nicky Downing – CEO Guideline Risk Technologies Africa (Pty) Ltd
An Organisation, through Enterprise risk management, should seek to help drive decisions which balance risk and reward, thereby adding value to business. This would involve the following:
A Structured Self Risk Assessment Approach
Procedures/ processes linked to BU objectives and then to Group Objectives and Group strategic business plan
Divisions/BU’s ensure individual Goals and Objectives and business strategy aligned to Group
Goals and objectives defined
Group strategic business Plan
You're in business
You monitor the specific identified indicators to verify that you are on target in achieving your determined objectives and goals.
You record incidents along the way and monitor historic events in your business area to help you stay on your planned route and minimize the possibility of failure in achieving your goal.
All risks identified at process level that could prevent achievement of defined objectives and Goals at both BU and Group levels.
The organisation at each level is prompted by the supporting software system, providing notification of Key Risk Indicators, to take the necessary mitigating action.
Correctly embedded and used, Integrated ERM ensures the achievement of your Objectives and Goals by improving the overall efficiency of the running of your business.
Calculated Risk Profile Evaluated byObjective/process/risk category/cause
ERM Risk Modeling
Capital Allocation/Funds/Captives/Tiered insurance
Incident Event Management
(Are we doing what we intended to do, in managing our risk
Actions taken to reduce Impact and probability
Integrated ERM Control and Management
Actions taken to correct and improve conditions when it goes wrong
Real time analysis reporting providing indicators of where action needs to be taken based on current control of risk