Regulatory and Operational Risk Services
Enterprise Risk Strategy
Economic losses, damaged reputations and corporate failures through unforeseen market forces are a constant threat to organisations. Not even the most enlightened companies could have predicted how difficult the recent economic climate and trading conditions would have affected their businesses. Managing enterprise risk is not a new concept or wisdom, though within the current climate existing risk models or ERM frameworks appear flawed. This is because they fail to consider the true reality given the increased complexity of risk and changing market dynamics.
Enterprise Risk Management Solutions
Enterprise Risk Governance Model
Current trends have seen global enterprises establish risk structures within ‘silo units’ to address different elements of regulatory compliance, cybersecurity, privacy, cloud technology, operational risk, financial risk and corporate governance for each of these areas. NS Global Consulting is able to eliminate this silo mentality by integrating each risk component within a single unified framework to deliver an effective risk management governance framework and strategic approach.
Enterprise Risk Management Governance Framework
Starting in the Boardroom and working right across the entire organisation, NS Global Consulting is able to analyse the different components of enterprise risk management, covering corporate strategy, operational, financial, information, reputational and regulatory risk factors. Whether a regulatory breach, failure of internal controls or other scenarios, we have the required expertise to limit potential impacts to your organisation. We also seek to remove such threats if there is an advantage to be gained from doing this.
Enterprise Risk Management Strategy
Enterprise Risk Management is a critical business function that offers important guidance and direction, while also adding substantial value to an organisation. Combining strategic, governance and structured decision-making frameworks often add value to strategic thinking within the context of an Information Risk Management Programme. We aim to drive your Enterprise Risk Strategy by analysing future requirements and long-term direction to ensure alignment with leading best practice models, standards and methods as recognised by the Global Information Risk Management Community.
Risk Oversight Board / Committee Reporting Framework
NS Global Consulting delivers an important solution to ensure board oversight and steering committees behave and perform as specified within the Enterprise Risk Strategy Framework. For this to happen effectively, we analyse stakeholder needs, expectations and accountabilities in relation to the successful operation of Board-Level Committees. Therefore, to perform effectively in a proactive, constructive and collaborative manner, we work with high-level committees on developing KPI metrics (key performance indicators), including:
Number of key business stakeholders represented in Risk Oversight Board / Committee
Effectiveness of strategic and tactical guidance provided by the Risk Oversight Board / Committee
Enterprise Risk Management / ERM Framework Standards
To fully analyse, identify and manage enterprise risk management we help establish a useful framework to apply a consistent set of methods, practices, procedures and standards covering information management and business risk. Our holistic approach facilitates optimal risk management methodologies, best practice models and quality assurance standards, incorporating:
Adoption rate of methods, practices, procedures and standards by your intended user base Maturity levels compared to capabilities and applying enterprise risk management standards New capabilities introduced to enhance overall enterprise risk management capabilities Clearly defining enterprise risk management appetite aligned with business objectives Implementing robust control processes and risk mitigation techniques across the enterprise
Enterprise Risk Awareness & Stakeholder Management
NS Global Consulting helps corporations achieve a strategic advantage through effective stakeholder engagement by educating key stakeholders on developing a ‘risk-aware / value-driven’ culture encompassing all levels within an organisation. This allows organisations to place risk management and appetite towards risk exposure right at the very heart of the business. Rather than overlooking risk, it is a matter of understanding known / emerging risks for corporations to identify best enterprise risk management strategy and best approaches to deal with risk effectively in an informed, diligent and consistent way.
- Regulatory Strategy– We develop regulatory strategies, structures, and processes that enable a proactive, forward-looking assessment of regulatory trends and impact on business models.
- Regulatory Response– We help clients respond to specific breakdowns in their regulatory compliance programs which are often driven by actual, or the prospect of, regulatory censure.
- Regulatory Compliance– We assist clients in designing, assessing, and transforming their enterprise compliance programs to preserve organizational value and create competitive advantage.
Operational Risk Services
NS Global enables associations to change the manners in which they use individuals, 3rd party suppliers, technology innovation, data, business procedures, and controls to oversee operational risks and hoist business execution. Creating incorporated, strategically-aligned operational risk management solutions enable businesses to settle on enhanced business choices.
Operational Risk Services
- Internal Audit (IA)– We help change internal audit functions by collaborating with, or filling in as, internal audit function to make upgrades in internal control and process proficiency and add to successful regulatory compliance. We give contribution to set up internal audit functions on their methodology and reason, resourcing models, and technology innovation.
- Assurance– We offer specialized information technology audit services to deliver risk and controls, audit analytics to extract insights from data, as well as third-party assurance to manage risks from the extended enterprise.
- Conduct Risk– We help businessesexamine and advance the values, beliefs, tone, conduct, and understanding of risk culture to align with their strategy and business practices.
- Broadened Enterprise Risk Management– We evaluate and manage third-party risk related to outsourcing, licensing, alliances, and other business partnerships across the organization to maximize business performance, streamline information technology and licensing costs, and optimize supply chains.
- Operational Risk and Change– We help clients transform the ways in which they leverage people, technology, data, business processes, and controls to address their operational risks and drive business performance.
- Technology and Digital Risk– We enable organizations to take advantage of the positive results of innovative new digital technology and better oversee their legacy technologies through risk intelligent solutions, advisory, and expert consultancy.
- Data Risk– We exhort customers in the development and organization of advanced digital capacities to protect and govern data, produce business knowledge and improve basic leadership, decision making through streamlining data disclosure, collaboration, utilization, and insight.
Enterprise Risk Management Solution: Key Benefits
Our holistic Enterprise Risk Management Solution enables organisations to identify, evaluate and define strategies to mitigate future IT / enterprise risks within a sustainable governance framework. The idea is to strengthen capabilities to guide, educate and inform the Executive Board, Risk Committee Members and Senior Leaders by giving the necessary decision-making tools, techniques and frameworks to help manage enterprise risk more effectively.
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