Development of the Enterprise Risk Management System
Grupas' Enterprise Risk Management (ERM) System Development program enables companies to establish an end-to-end risk management system aligned with their strategic objectives. The program covers every step, from defining risk appetite to building the risk inventory, from developing key risk indicators (KRIs) to documentation and embedding a sustainable risk culture permanently within the organization. By establishing effective collaboration between Internal Audit and senior management, risks are minimized while operational security and financial stability are strengthened.
The program advances through a structured 8-step roadmap: strategic analysis and management meetings, preparation of risk assessment criteria and the risk matrix, risk workshops with process owners, review of the risk inventory, senior management approval, establishment of KRIs and control mechanisms, preparation of ERM standard documents, and setting up a continuous monitoring mechanism.
Outcomes and Benefits
- Management-approved risk appetite, risk categories and standard risk assessment criteria aligned with company strategy
- A comprehensive, consistent and up-to-date enterprise risk inventory; identification of missing or uncovered risks
- Assessment of the effectiveness of existing controls and risk-mitigating improvement recommendations
- Early warning, measurable monitoring and effective reporting through KRIs and performance indicators for critical risks
- Improved decision-making quality; reduction of surprise losses, operational disruptions and financial risks
- Strong governance between risk owners and Internal Audit through clearly defined duties, authorities and responsibilities
- Corporate memory through ERM process documentation, reporting formats and communication protocols
- Lasting internal capacity and a sustainable risk management culture through workshop methodology training for the Internal Audit team
Who Is It For?
Companies that want to build an enterprise risk management system from scratch or mature their existing structure; senior management and boards of directors, Internal Audit and risk management departments, process owners, and organizations aiming to strengthen their corporate governance standards.
We are ready for enthusiastic collaborations… GRUPAS | people • process • technology
