The global macro-economic environment remains challenging without any apparent signs of easing. Now, enterprise must recalibrate how they monitor and manage risks. In the past, risk management were certainly less interrelated. The recent financial crisis changed all that. Given the changing shape of global economic, it is perhaps not surprising that day-to-day risk-management practices have failed to keep pace. Unless your enterprise takes to heart the lessons learned from this financial crisis, it will be ill- prepared for the next.
The Francfort Consulting Group can provided capabilities needed to, Accurately map and monitor the different dimensions of risk and returns across your entire organization. Establish accountability for those risks/ returns; and Institutionalize a risk appetite that provides your firm with a consistent prism through which to pursue profitable and ‘opportunistic’ risks and avert hidden threats.
The Francfort Consulting Group also understands that especially during tough times, financial services organizations need quick returns with minimal investment. Based on our experience The Francfort Consulting Group developed two highly focused solutions for enterprise risk management that bring quick benefits while also helping organisation establish a roadmap for a longer-term ERM program.
- Define a consistent and robust process documentation and risk assessment method in accordance with the existing IT architecture and risk framework
- Use the established process documentation to identify weaknesses and define action plans for optimization by eliminating redundant process controls
- Achieve greater transparency, which requires a foundation of enterprise risk information
- Elevate risk-data governance to a strategic business objective
- Develop a more integrated, transparent and predictable risk framework
- Generate an intuitive, overall closing process providing at the same time an overview of all sub- ledger interfaces and a testable but lean closing process with defined key controls
- Adaptable risk dashboard module enables the user to use different dashboard to prevent, detect and reduce risk
- Integrates reference and market data benchmark performance; Provides a wealth of different reports
Create a consistent process landscape by mapping the processes into an end-to-end framework that integrates the operational units, accounting department and IT
- Flexible workflow module implements customer-specific workflows for a further automation of processes
- Capture an enterprise-wide view of risk positions across critical business dimensions
- Increase the transparency and quality of existing processes by establishing ongoing process controls
- Ensure the overall reliability of financial reporting focusing on both effectiveness and efficiency
- Achieve bussiness objectives, and Optimise economic, financial and social value
- Enhance organisational culture and increase stakeholder confidence
For further details regarding RISK MANAGEMENT features please contact us. We would be happy to advise you in a personal meeting.