We are facing challenging times. The current social and economic crises are a watershed, a critical point, marking a change of course. As events are unfolding, we are seeing the effects of uncertainty and failing confidence. The continued fallout from the global economic crisis will likely mean ongoing credit issues, increasing price pressures, tightening performance constraints. Looming inflationary and recessionary stagnation will cause organizations to look for better controlover their course.
The past decade has seen more and more organizations extending their risk management function into an encompassing Enterprise Risk Management (ERM) program, bringing risk principles into operations, supply chain, customer-facing functions and the back office. The purpose is to provide greater assurance of continuity and resilience, protection of investment and preservation of tomorrow’s growth opportunities.
According to the World Economic Forum report on Global Risks from January 2008,”complexity has increased the need for effective risk management. There are challenges to bring the costs of risk management in balance with the benefits that arise from good governance. But benefits of a strong enterprise risk management are proven, as we’ve seen in best practice:
Reducing operational losses
Lowering the cost of compliance
Early detection of compliance failures
Improved internal control and transparency
Reduced exposure to future risks
Better resilience in times of crisis
Better, more informed decision utilizingoperational data to clarify and pinpoint key risks
Better control and monitoring, focused on the most vulnerable areas of the organization
Richer information about operational scenarios
Tangible control and performance improvement
Risk principles and practices can be embedded across the organization, in every function. A fundamental shift can be made once people have access to the right information about risk and understand how to assess risk to performance.
LOGIC helps organizations to handle the complexity risk management by embedding the framework in operations and providing the right information to the business.
Elements of our integrated solution are:
Risk and control gap analysis
Risk assessment and control design
Risk management implementation (people, process, technology)
Risk analytics and reporting
LOGIC helps organizations to identify their most important risks and to determine measures that will reduce risk to an appropriate level in keeping with the organization’s risk appetite. We also help organizations with the implementation of their risk management framework, addressing the information, organization and change aspects in partnership with our clients.
LOGIC can assist your organization in many ways: from analysis of risk, control design and building compliance management processes, to control implementation and maintenance.
Our services are always delivered in close cooperation with our clients and their staff. A team approach ensures that we deliver a solid result and leave a lasting benefit. As partners in managing risk, LOGIC canprovide your organization with a strong, responsive capability to deal withoperational threats… giving you greater confidence to face today’s challenging business environment.For each engagement, we design a customized approach that leverages the best of our know-how, resources and methodologies. We bring extensive experience to bear in defining an approach that always considers strategic objectives, operating parameters, performance improvement, management information and risk mitigation. We customize our approach according to customer requirements following an evaluation of current state. Our objective is always to construct a pragmatic, integrated and effective solution.