Enterprise Risk Management Services
Integrating Enterprise Risk Management
An integrated and comprehensive system of risk identification, aggregation, and response embedded into an organization’s culture is necessary in today’s competitive and dynamic business landscape.
It is important for organizations to develop a risk culture that defines risk tolerance and communicates warning signs of internal and external risks. A culture where the organization perceives internal and external changes is one that reacts quickly and embraces innovation or the impact of change.
As organizations evolve, developing an Enterprise Risk Management (ERM) program is essential to the mission, vision, and creation of core values. ERM is linked to the business in several significant ways, including as the building block for a sound corporate governance structure, performance, and internal controls. These topics support the company’s achievement of objectives and strategies and place management in a better position to anticipate expected and unexpected events, such as IPO and PCAOB audit readiness requirements, SOX compliance, process optimization, and internal audits.
Enterprise Risk Assessments
Our ERM experts bring with them a wealth of knowledge in industry-specific risks and emerging threats, enabling us to identify potential risks that impact your business. Using surveys and interviews with key stakeholders, we refine and tailor the top risks for your organization as part of our Enterprise Risk Assessment (ERA) process.
Through quantitative and qualitative analysis methods, we evaluate risks and enable the key stakeholders to prioritize and focus their resources on managing the most critical threats. CFGI created a risk-scoring methodology based on industry guidance and standards that are appropriate and customized for each organization. Our control and process recommendations minimize the likelihood and potential impact of identified risks and outline the actions required by management. CFGI provides you with regular reports and dashboards highlighting key risk indicators, aiding in your informed decision-making process and action steps to address emerging risks.
ERM Outsource and Co-Source
As your organization establishes an initial ERM program, our ERM experts can take over the ongoing maintenance and monitoring of the risks. We work closely with your Chief Audit Executive (CAE) or as your CAE/Internal Audit function/Chief Risk Officer to develop a strategic enterprise risk management validation plan tailored for your organization. We lead the charge of creating functional governance policies, standard operating procedures, and other required internal control documentation recommended to enhance the risk structure of the organization.
ERM Program and Maturity Benchmarking
Through our ERM work across various industries, and using our experience and industry knowledge, we assess your enterprise risk appetite and tolerance against CFGI’s best practice framework and industry standards. We can conduct a risk maturity assessment using our standard risk identification and assessment approach and provide benchmarked examples of risk appetites and tolerances used in similar organizations.
Connect With Our Leaders
Daniel Shafrir
Managing Partner
(857) 321-1539
dshafrir@cfgi.com
Mai Jaroudi
Managing Director
(786) 897-5775
mjaroudi@cfgi.com
