Effective Risk Assessments Begin with Proper Planning
The risk assessment is designed to focus on an institution’s risk profile, strategic objectives, business changes and the specific concerns of the audit committee and management.
Our risk assessment approach is composed of three distinct phases, the foundation of which is planning. During our planning phase, we review current process and documentation, confirm business and operational objectives, address areas of inherent risks, and schedule information gathering sessions with management and key process owners.
Let Us Help with the Foundation of your Risk Management Plan
A typical PKM risk assessment includes preparing the preliminary scope using a top-down approach through review of current plans and organizational structure. We then conduct interviews with key members of management and the audit committee to understand the organization’s widespread view of risk and key areas of concern.
We offer a wide range of risk assessment services, which can be completed as part of an annual audit or as a standalone service. This will serve as the basis for your risk management plan – prioritizing and allocating resources, specifically to those areas posing a greater degree of risk to your institution.