Risk Management Consulting for Medium to Large Corporations
Risk management consulting services are inevitable since risk is inevitable. Most people treat risk as something that needs to be avoided. However, businesses need to take risks. In fact, starting a business is risky. Corporations in all sectors face risks while doing business. The need to manage risk is more pressing for medium to large corporations due to the stringent regulations that such organizations are subjected to. The consequences of ignoring risk are also dire. Medium to large corporations can face lawsuits or regulatory action that halts business or leads to huge losses.
Corporate Investigation Consulting exists to help corporations make informed decisions on all matters related to risk. We can address everything from regulatory compliance risks to risks posed by lack of/or inadequate internal controls.
Since risk is a critical part of business, we help corporations manage risk. Our job is to identify risks facing any medium to large corporations nationwide, assess such risks, and manage them. We help corporations establish strategies backed by risk management. In doing so, corporations are safe from common risks that affect operations.
Risks Affecting Medium to Large Corporations
Corporations face many risks the most notable include:
Financial risks: External audits done abruptly by regulators and agencies such as the IRS when investigating billing, financial reporting, and tax practices can expose a corporation to problems. Financial risks can have longstanding consequences for public corporations, including decreased share price.
Strategic risks: Medium to large corporations face strategic risks such as regulatory changes. Regulations constantly change from a state to federal level. Corporations must monitor such changes to avoid non-compliance risks. Other strategic risks include competitor risks, shifting consumer demand, merger and acquisition risks, technology changes, and management risks.
Corporate Investigation Consulting can manage all strategic risk matters related to compliance and governance issues. We consider such risks when advising corporations on corporate risk management strategies.
Operations risks: Our risk management consulting services also include dealing with operational risks that encompass hazards and uncertainties faced by corporations in their daily operations within their industry. Operation risks arise from failures in internal processes, systems, and the workforce/staff. Operational risks are largely about how a corporation does things.
We help corporations function optimally by rethinking processes, laying the foundations for better decision making, and making other changes that minimize human risk. Many operational risks are linked to human error. While changes depend on the industry a corporation operates in, our main focus is minimizing where human errors occur in corporations.
Talk to our risk management consultants for free (Call: 866-352-9324) to understand how we tackle operational risks.
Our Risk Management Consulting Process
Corporate Investigation Consulting tackles risks in corporations in two main ways.
Risk Management Framework
We help corporations establish a framework for handling risk. Before establishing guiding principles, we assess risks and measure the impact, among other metrics. Our risk management framework also involves establishing robust procedures for monitoring risk continuously.
Our risk management consulting experts can help corporations nationwide build guiding principles for identifying, assessing, measuring, handling, and monitoring operational, financial, and strategic risks. Our risk management plans include how to deal with property to credit, liquidity, and price risks. We also offer guidance on future risks.
Corporate Investigation Consulting has all kinds of experts, including financial experts capable of measuring critical risk metrics such as economic capital. We can let corporations know precisely what it costs to recover from unexpected losses linked to financial, operation, and strategic risks.
We can assess returns on initiatives to determine if they surpass the capital expenditure (making them good risks for a corporation to take on).
The first step of establishing a risk management framework is assessing risk. We identify both internal and external risks facing a corporation. Risk assessment focuses on anything that can cause problems. After identifying risk, we assess the effects of such risks on the company, consumer demand, and any important metrics.
We also evaluate risks according to probability to assess the severity of individual risks on a corporation’s bottom-line and look for ways to reduce the likelihood of different risks occurring. Our risk management consulting experts prepare contingency plans and preventative measures as needed. Lastly, we track risks and establish methods of dealing with them as they arise.
Risk assessment is followed by efforts to avoid, minimize, transfer or accept risk. Corporations can avoid activities that bring risk. For instance, production lines that pose an imminent risk can be abandoned to forfeit all risk and associated returns. This step is prudent when returns are less than the consequences of dealing with risk.
We also help corporations reduce risk through small changes to align risk and reward. Risk can also be redistributed or transferred through partnerships. We advise corporations on merging operations, acquiring new entities and other actions that can share out risk. Corporate Investigation can also advise on risks that are acceptable i.e., small risks that can be comfortably absorbed by a corporation.
Risk Management Training
Having a risk management plan or framework doesn’t mean much if staff in a corporation don’t understand its purpose. We can address risk-related issues linked to staff training to raise awareness on risk management mechanisms and concepts. We can empower a corporation’s staff to participate in identifying and managing risks in day-to-day activities.
How We Can Help
Our risk management consulting services apply to all the above and more. We have experts nationwide capable of handling unique risk management needs.
Whether you require a risk compliance program crafted specifically for your corporation or you need your existing program enhanced to meet new risks, we are ready to help. We also respond to emergencies. If risks occur, we can respond to investigations, lawsuits, data breaches, theft, and more.
We have legal experts, private investigators, former special agents, and many other supporting professionals capable of helping with all risk management issues.
Get a confidential complimentary initial consultation now! Contact or call us at 866-352-9324. Risk is inevitable in a corporation. Let’s discuss for free our risk management consulting services today.
Get a glimpse of the corporate investigation professionals that handle our risk management service.