Risk management is the process of identifying, assessing and implementing appropriate steps to mitigate the key risks faced by an organisation. Practical and cost effective arrangements should be adopted by all organisations to minimise the probability and impact of the risks they face – or to deal with the potential consequences if an external risk cannot be properly managed.
Risk management presents numerous challenges as it reflects the inevitable fact that assets, processes and people can fail or can be damaged by external events. In turn this can lead to consequences that are both unplanned and unwanted.
RSM Malta’s Risk Advisory practice advises organisations on how to effectively mitigate risk and make informed and intelligent risk decisions. We offer a number of risk management solutions to help you manage yours including the following:
- Comprehensive Business Risk Assessment assists the organisations to identify, quantify and prioritise their key risks;
- Alignment of the organisations’ objectives and strategies with the processes in place to achieve them;
- Facilitate the creation of a risk aware management culture and style;
- Streamlining of decision making processes to focus on effective risk management;
- Offer advice on potential efficiencies and the need for further cost-effective controls or changes to relevant policies and procedures.