In this day and age, not only has change proven to be the only constant in the business landscape, but it is happening rapidly at unprecedented pace presenting us with opportunities for growth and exposing us to risks that, in order to survive and thrive, we need to proactively identify and manage.
Technological advancements, the digital revolution and the rise of cyber dependency have changed the business landscape, so organizations need to either keep up or fold out.
Geopolitical and societal changes and challenges in recent years have had a tremendous impact on the economy as whole. The rise of terrorism threat, the failure of the rule of law, corruption and political deadlock creating an environment of uncertainty which instigated the migration (both voluntary or involuntary) of human resources causing a chain reaction of competition for natural resources and the development of new communities and governmental burden to provide for them.
The list of risks continues from economic to environmental to financial to market all the way into the organizations’ operations and their abilities to manage those risks to achieve their strategic objectives.
Recognizing and managing risk is a crucial part of the role of the board of directors and management, a failure to recognize or manage risk can adversely impact not only the organization and its investors or owners but also other stakeholders, including employees, customers, suppliers, creditors, consumers, and the broader community in which the organization operates.
Not only do good risk management practices help protect established value, they can assist in identifying and capitalizing on opportunities to create value.
The owners (board of director of a listed organization) are ultimately responsible for deciding the nature and extent of the risks they are prepared to take to meet the organizational strategic objectives. To enable them to do this, the organization need to have an appropriate framework to identify and manage risk on an ongoing basis.
It is the role of management to design and implement that framework and to ensure that the organization operates within the risk appetite set by its owners/board of directors. It is the role of the owners/board to set the risk appetite for the organization, to oversee its risk management framework and to satisfy itself that the framework is sound.
At RISKTAL we pride ourselves with our solid and proven risk management methodology that combines leading risk management standards and practices with our practical knowledge and experience in the field both as consultants and as practitioners across various industries and organizational structures.
Our methodology is distinctive in the manner in which it encapsulates the local culture specificities which makes it more relevant to create value to you and your business.
Saying that, there is NO "one size fits all" solution at RISKTAL. We deliver to your needs and provide you with the value that will assist you to take your risk management practice to the next level.
How mature is your risk management practice?
At RISKTAL we acknowledge that risk is embedded in any decision that needs to be taken, hence we firmly believe in the value of the proactive management of risk be it strategic, operational, financial, compliance, environmental, societal, technological or others. Hence, we are adamant to be your aiding partner to maneuver through the risk universe that your business operates within to ensure your resilience and continuous success.
- Develop organizational risk management policies.
- Develop organizational risk management procedures.
- Advise on the selection of enterprise risk management solutions and systems.
- Conduct organizational risk assessments tailor made to your organization.
- Advise on the human capital requirements for the risk management function.
- Design and develop the operational structure for the risk management function.
- Develop the strategic plan for the risk management function and associated performance KPI's.
- Develop job descriptions for the risk management resources and associated performance measures.
- Develop risk management reporting templates and systems.
- Develop Board reporting packs.
- Independent assessment of the maturity of the risk management function.
- Develop road maps to take the risk management function to the next level and optimize its value.
- Update and improve the risk management policies and procedures.
- Update risk registers.
- Independent assurance about the implantation of the risk treatment plans.
- Independent assurance about the compliance with the risk management policies and procedures.
- Independent assessment of the effectiveness and maturity of the risk management function.
- Strategic evaluation of the risk management function and its resources.
- Advise on the automation of the risk management function.
- Design and implement risk intelligence dashboards.
- Advise on the integration of the risk management functions within the organization and other governance and compliance activities.
- Projects risks assessment.
- Basel III/IV and Solvency II advisory.
- Credit risk advisory.
- Monte Carlo simulations risk analysis.
- Market and liquidity risk advisory.
- Insurance risk advisory.
We acknowledge that any risk management system is as good as the resources operating it, hence at RISKTAL we provide you with custom made risk management training workshops in both Arabic and English ranging from risk management fundamentals awareness to how to develop and manage an effective risk management function.
#eidmubarak https://t.co/lUekgTJnCK20 Jul
Family Businesses | Risktal https://t.co/IQyvV6V0II13 Jun
We are back online... Welcome to visit our website https://t.co/2ZYu45saOs04 Mar
We are experiencing some minor technical issues with our website that we are working on resolving promptly. We apo… https://t.co/aCFLwUQqW927 Feb
Knowledge, Acknowledge and Resolve | Risktal https://t.co/i6eIApb62V01 Sep
Knowledge, Acknowledge and Resolve | Risktal https://t.co/JhIhom4dje01 Sep
PRECISION Business Diagnostics | Risktal https://t.co/8AMsY1FVbl30 Jun
Navigate COVID-19 and Emerge Stronger | Risktal https://t.co/re4l5N60CM01 Jun
Now more than ever is fraud risk at the highest level. Occupied combating COVID-19 & under the cover of a slowing e… https://t.co/oaHw0JNoY011 May
Clowns Belong in a Circus, Not in Risk Management | Risktal https://t.co/LOI2uza7Mi06 Apr
Did You Know: We Can Manage Your Ethics Hotline For You! | Risktal https://t.co/mCagt3ibfe02 Mar
A Simple Guide to Destroy Your Organization | Risktal https://t.co/PngNG1akPT11 Feb
Reflections on 2019 Global Risks | Risktal https://t.co/70tVXWkGGo09 Dec
Boutique Firms or Large Firms? | Risktal https://t.co/etMhJjW5d807 Dec
One of our older posts; however, it is always good to remind ourselves with some basic #cybersecurity tips. Risktal… https://t.co/SaUgqcg4NK28 Nov
Organizational Culture | Risktal https://t.co/WG0WXncuWS14 Nov
The Incomplete Picture | Risktal https://t.co/O4mmSN0CP207 Nov
10 interview signs the Internal Audit Function you are applying for is NOT what it's supposed to be! | Risktal https://t.co/Pi5B8Ex9D721 Oct
The Chocolate Trail to Corruption! | Risktal https://t.co/QBXV55un1502 Sep
Eid Mubarak 2019 | Risktal https://t.co/ocgd4UIbeR08 Aug