ERM services can help provide an organization-wide approach to the identification, assessment, communication, and management of risk. The ERM framework addresses five risk elements: risk governance, risk assessment, risk quantification and aggregation, risk monitoring and reporting, and risk and control optimization. KPMG can help facilitate and perform an enterprise risk assessment that identifies and assesses an organization's current risk inventory. We can also review and assess the current state of maturity of their risk management program, providing observations and recommendations for improvement.
KPMG helps by offering…
- Well-established, globally accepted risk management framework, and global network of professionals
- Understanding of the client’s business strategies and related risks
- Actionable and practical approaches to embedding ERM within the organization
- Multi-disciplinary team to define the risk profile
KPMG ERM Assessment and Implementation can help organizations:
Featured Success Story
- Improve risk information needed to support strategic decision making throughout the organization
- Understand risks and interrelationships to help drive performance, value, and brand
- Get out in front on global regulatory change
- Consistently identify and assess risks
- Define risk governance structure with clear roles and responsibilities
- Cleary align strategic objectives and organizational risks
- Access information that supports risk-based performance measurement
The CEO and Board of a major multi-line insurer requested an enterprise-wide risk management assessment, with leading capabilities. The KPMG team performed an 'as is' assessment around processes, structure, governance, policies, and tools. It provided an ERM maturity assessment against peer companies and industry best practices, identified potential actions to close the performance gaps, and estimated the required amount of effort and investment, and debriefed the Board on the findings and recommended actions.