Want to enhance your company’s enterprise risk management approach?
In today’s business environment, companies must accept certain risks in order to grow, compete, and seize opportunities. Risk is a given for almost any business endeavor. A changing risk environment calls for a proactive approach to risk management rather than a reactive response. A formal enterprise risk management (ERM) approach can help companies effectively navigate through everyday business risk and increase the overall effectiveness of the company.
A tailored approach to enterprise risk management
Your business is unique, and as such, it carries unique risks in regard to your operations, structure, management, human capital, credit, markets and even your corporate culture. Yet many ERM providers continue to offer canned, one-size-fits-all, risk assessments to their clients. The biggest mistake you can make in enterprise risk management (ERM) is copying a risk management model from other another company. Using an off-the-shelf ERM solution can overwhelm your company’s personnel and produce a large quantity of meaningless data, making your business objectives secondary.
Warren Averett’s facilitative, holistic approach to enterprise risk management not only helps companies better identify and mitigate their unique risks, it serves to improve training and awareness of the risk management process, enhancing the overall risk culture of an organization. Our risk management approach includes a combination of risk awareness workshops, individual risk interviews, facilitated self-assessments and evaluation of specific financial and functional risk. We use a collaborative approach to help you get meaningful results from your enterprise risk management efforts.
With clients ranging from privately-held companies to large, publicly-traded corporations, Warren Averett recognizes the need to take a tailored approach to enterprise risk management. Our enterprise risk management services are specifically customized to each client and cover the following key risk areas, among others:
- Accounting & financial reporting risk
- Asset management risk
- Management & human capital risk
- Infrastructure risk
- Information technology risk
- Liquidity & debt leverage risk
- Sales & marketing risk
- Expectation risk (Strategic planning & goal setting)
Internal control services
Today’s managers and corporate boards are much more cognizant of the fact that effective ERM requires an effective system of internal controls. Warren Averett offers internal control services for businesses in the following areas: