Risk means uncertainty about whether or not a loss will occur, and the way to control risks is through strong governance and its effective management. We can define corporate risk management as a continuous activity carried out by all departments of a company to assess the probabilities and impacts of all potential risks to which it is exposed, prioritizing them with the help of risk analysis techniques so that they are eliminated or mitigated to levels considered acceptable according to the risk appetite and retention policies demonstrated by the company. Opportunities can be generated from effective risk management, bringing competitive advantages.
Governance and risk management complement each other. Implementing effective internal control systems and communicating sound risk management to owners, stakeholders and the market in general are increasingly seen as an excellent market practice. There are even financial institutions and rating agencies evaluating governance and risk management and, when well evaluated, generate positive and tangible impacts on a company's valuation. Below are some of the services related to ERM:
Identification of how prepared the company is to respond to risks and whether existing policies, procedures and resources are adequate and correctly allocated;
Implementation of policies and procedures in ERM – Corporate Risk Management;
Implementation of risk matrices;
Customized and structured workshops for identifying, classifying and prioritizing risks.
