Enterprise Risk Management

Why Enterprise Risk Management

Enterprise Risk Management (ERM) is a disciplined approach to selecting and managing risks. Unlike traditional risk management, ERM focuses on the confluence of all risks, applying a systematic approach to managing key risks. By providing a platform for managing risks consistently and holistically as well as assessing risk-return trade-offs, ERM adds value to companies as illustrated by various research studies on performance and risk maturity. The distinct value added by a strong ERM framework has not gone unnoticed by regulators, analysts, rating agencies, and investors.

Regulators around the globe are working on various initiatives that mandate financial services companies to have effective risk management frameworks. Analysts and rating agencies are probing deeply about how companies manage their risks.

While regulators, analysts, and rating agencies have varying levels of sophistication, they are all getting increasingly advanced in their requirements for, and assessments of, ERM programs. Companies are well-advised to develop and implement best-in-practice ERM programs to stay ahead of the curve. QED is best positioned to help you mature your ERM program.

With increased product sophistication, elevated market turbulence, and greater inter-connectedness between companies and markets and regions, there is a clear need for ERM even without the pressure from regulators and analysts. ERM is not a passing trend, but a reality for doing business in a modern, inter-connected and highly volatile business environment with cutthroat competition.

ERM Solutions

Some companies have failed to demonstrate value-added by having an ERM program because of a flawed approach to ERM program development and implementation. QED has extensive ERM experience and thus will help you avoid development and implementation pitfalls. We leverage our quantitative actuarial expertise, balancing it with qualitative analysis and acumen, when developing risk management solutions. Our broad experience with various business models and strategies, helps us deliver risk management solutions that add value.

  • Balance quantitative and qualitative actuarial expertise.
  • Business strategy.
  • Show value.
  • Broad business experience and acumen.

We have reviewed and implemented a variety of approaches to risk management at an enterprise-wide level. With a rudimentary approach, an ERM gap analysis review, for example, would entail a tick-the-box exercise, or perhaps a little more but not much more. With our approach, we try to understand the rationale behind the choices made while building a company’s particular system of risk governance. Our approach to risk management, therefore, reflects the flexibility companies have in designing and implementing ERM programs. When we help companies improve or set up risk governance systems, our primary goal is to add value, with regulatory compliance as an ancillary benefit.

Our ERM Solutions include:

  • ERM reviews and implement.
  • ORSA assistance.

QED ERM Approach

The ERM approach, which is built on QED’s cornerstone client-centric approach, and produces tangible results quickly.

  • We partner with clients to mature their approach to risk management into cutting-edge ERM frameworks.
  • We work closely with client personnel to enable knowledge transfer as ERM continually evolves.
  • We help secure buy-in from senior management and the board because the most effective ERM programs have the full support of the executive team.
  • We help inculcate a vibrant risk culture within the organisation which is an essential component in the success of any ERM framework.
  • We build frameworks that optimally cover the full spectrum of key risks, favouring a balanced approach to risk management from business continuity planning to the assessment of complicated derivatives to capital fungibility analysis.
  • We will build best practice ERM programs that meet regulatory requirements, be it Basel III, Solvency II, SAM or another regime.

We work closely with our clients, guiding them at every step to produce dynamic ERM programs underpinned by a strong risk culture.

 

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