VERITAS - Risk Management Limited

enterprise risk management

We have highlighted through out our products and services section that we can create Processes and Procedures to manage specific areas of risk, however as the discipline of Risk Management develops many are linking these together and creating frameworks to manage all risks and provide governance and attestation information for business stakeholders.
All organisations have stakeholders internal (The Board and Senior Management) as well as external (Investors, business partners through to the public at large). Some businesses even have legal obligations in this area.

By using the Risk Framework approach for recording and reporting the residual risk status of Business Services against a standardised set of mitigating Control Objectives we allow Senior Management and the Board to make rational and logical decisions on Risk Control ensuring budget and resources are focused

Any good Risk Framework uses Department Management as a ‘golden source’ of Service, Management Area and Staff/Role information.  This is imperative as the Service Departments tend to understand the risks they face better than most but do not always have the clear mechanism for communication to Management in other areas or at a higher level.

We can assist in providing such frameworks and these tend to include identification of: -

  • Business Principal or Primary Risks
  • Key Risks
  • Departmental or Team Risks
  • Specified Controls and Systems

This identification process is then combined to create a risk library which in turn allows for: -

  • Risk Analysis and Assessment on a more Objective Basis 
  • Creation of verifiable action plans and strategies
  • Risk Registers – which aid the Frame Work users to visually see     where risk lie and how they develop over time.
  • Reports to be generated for Stakeholders on the position of any given identified / current risk within the organisation.

This process can be used on Construction Projects, Mature Functions, New Ventures and is flexible and fluid but also fully auditable.

Download a diagram of an example risk framework

contact us

Veritas Risk Management Limited
Veritas House
The Prebend
Great Rissington
GL54 2LN

M: 07789 221970