Business Risk Assessment and Enterprise Risk Management
Our client, an international Non-Governmental Organisation (NGO) with offices across the globe (including a regional office in Melbourne), had identified the need to enhance its risk management capability as a result of ever-increasing good governance requirements. After a process of attempting to develop its own risk register and Risk Management Framework, it turned to Echelon Australia for professional assistance.
As an international organisation, its particular governance challenge hinged on the global nature of its activities, with head office in Switzerland and operations mostly in the developing nations of the world. This exposed the organisation and its stakeholders to a variety of global issues such as: the electronic transfer of large sums of money; the issues of differing governmental regulations and treatments across very divergent authorities/jurisdictions; and exposure of project personnel to personal safety hazards (such as infectious diseases and violent crimes).
Echelon supported its risk management efforts by gathering information about its operations, facilitating a number of risk assessment workshops, conducting risk management systems audits and reviewing its policies, standards and procedures for risk. This information was consolidated into a report for the executive and board, who adopted the proposed Risk Management Framework and Plan.
This system is designed to identify, assess, monitor and manage risk and inform investors of material changes to the NGO’s risk profile. This structure can enhance the environment for identifying and capitalising on opportunities.
This assured the board, management team, and stakeholders (such as major donors and government aid organisations), that the NGO had established a sound system of risk oversight and management and internal control.