Risk management should enable an entity to achieve and expand its strategic objective rather than constrain its operations.
An effective risk management framework means that the Board and Executive can make commitments and decisions because they have access to information and insights that are complete, accurate and timely.
Effective risk management also gives companies the confidence to act on future business decisions. It goes beyond implementing a generic set of risk processes and tools.
Effective risk management gives confidence, certainty, provides transparency and enables the Board and Executive to identify and take advantage of opportunities.
How we help
Grant Thornton can develop and enhance risk frameworks by:
- assessing existing risk management frameworks, including APRA Prudential Standard CPS 220 reviews
- developing risk tools such as risk appetite statements, risk policies, risk frameworks and risk profiles
- designing and embedding effective monitoring and control processes
- conducting risk culture and risk maturity assessments.
Subscribe now to be kept up-to-date with timely and relevant insights, unique to the nature of your business, your areas of interest and the industry in which you operate.