But how do you manage risks in a world of uncertainty and constant change? What are the secrets? Where are the clues? The answers lie not in the stars, but in how you look at them.
The business risks of the new economy are great and paradoxical. Venerable institutions have been brought down because they failed to recognize and manage emerging risks. Great companies have stumbled because they failed to take necessary risks to remain relevant.
In this dawning age, risks abound. They arise because of the speed at which competitors change and out of the complexity of global markets. They are rooted in the limitations of technology and the frailties of human nature. They are inherent in the environment, buried in processes and hidden in information used to make decisions.
Every organization, including yours, needs to manage business risks as a strategic imperative and as a tactical necessity. Strategic, because risks are buried in every business model and market. Tactical, because your success in managing risks will decide the probability and scale of your success.
‘‘The policy of being too cautious is the greatest risk of all.’’ -Jawaharlal Nehru
Risk management is no accident
Effective business risk management is neither accidental nor incidental. It is sophisticated, systematic and comprehensive. It requires deep knowledge and skills - proven competencies that many organizations are ill-equipped to develop or support on their own.
To manage your exposure, you need expertise in such areas as technology, business processes and controls, treasury and commodity risks, integrity risks and the risks specific to your industry and market.
At Mazars Governance, Risk and Internal Control (GRIC), we provide world-class business risk consulting solutions to dynamic companies like yours that wish to participate confidently in the new economy. Our people are leading thinkers on best practices in risk assessment and control, and business risk management process improvement. They bring you the benefits of leading-edge technologies, methodologies and tools - all built upon deep risk, process, systems and industry knowledge. As your ally in managing business risks, we help you understand where risks lurk and how to address them. We work with you to assess the risks that can disrupt your business, and help you take the necessary steps to protect and enhance shareholder value.
A Comprehensive Approach
We can work with you at an enterprise-wide level, or on individual functions and processes, to help you:
Establish goals, objectives and infrastructure
We help you understand your risk capacity and tolerance, and recommend an effective framework and organizational structure for managing risk.
Assess business risks
Using our proprietary Mazars GRIC’s Business Risk Model, we give you a common language and roadmap for identifying, sourcing, measuring and prioritizing risks.
Formulate business risk management strategies
We provide information to help you reach your decision on whether to avoid, accept, transfer, reduce or exploit each of your defined business risks.
Design and implement risk management solutions
We define actions you can take, and the information you need to do so, based on the right combination of people, process and technology.
Measure and monitor business risk management process performance
We use a structured consulting process to help you measure the impact of your business risk management processes and identify ways to improve.
Improve your business risk management process
With our database of best business, risk management and controls practices, we apply quantitative and qualitative diagnostic tools to benchmark your performance against world-class performers in business risk management.
Our approach is collaborative. We work with you to provide services in locations where you lack resources. We provide people with the skills and knowledge you lack, or train your people to give them the competencies you need. With our advanced risk assessment, control and monitoring methodologies, our extensive knowledge bases and our sophisticated enabling technologies, we help you to effectively integrate risk management into your processes and your organization.
Comprehensive Services Offerings
We are enthusiastic about the power and potential of business risk management. It is the power to protect and enhance wealth and drive business process improvement. It responds to a fundamental and increasing need of every company. Our services meet a wide range of business risk and control needs, including:
Strategic and Enterprise risks
We offer specialized services to help companies address risks relating to your business environment, corporate governance and the dynamics of your value-creation model. We also offer advanced risk management services to improve your internal audit function’s ability to identify, measure and manage business risk.
From the many dimensions of your supply chain, to the intricacies of your treasury and trading operations, to the requirements of your contracts with government entities, every business activity and process involves specific unique risks. We can help you understand and manage them with confidence.
Technology is a mission-critical reality in the new economy. Whether you are implementing a new ERP or IRP solution, worrying about privacy or security issues or launching an eBusiness initiative, we can help you determine how to define, and then implement, the solutions that allow you to efficiently manage the business risks that exist in the myriad of technology and related processes that enable your business.
Our Services to Meet Your Needs
We provide the following professional services to public and non-public listed companies which include: