Especially in times of crisis, an effective risk management system is important for analyzing and assessing emerging risks in a structured manner against the background of a complex risk landscape. This was particularly evident in the past in the context of the financial market crisis or the Corona pandemic. However, the (early) identification of concrete risks in connection with crisis situations is a challenge for many companies. Risk assessment is becoming increasingly complex, for example due to knock-on effects in global supply chains and the high degree of interdependencies. Frequently, no integrated or only "purely formal" risk management in the sense of defining measures has been implemented, which limits monitoring of implementation progress and the effectiveness of the defined measures. As a result, responses to risks tend to be intuitive and often too late. The (ad-hoc) reporting to key bodies, such as the Executive Board and Supervisory Board, is often unstructured, inconsistent and not timely.
We support you in the challenges of risk management or the risk management system and its further development in order to be prepared for future crises:
Conduct an ad hoc risk analysis and assess your changing risk posture and impact on the business as well as business objectives,
Support in internal (special) reporting to different bodies (for example management or supervisory body),
Support in external reporting, for example with regard to quarterly reporting or annual financial statements,
Interim management (for example, RMS or crisis team)
Review the effectiveness of the process for ad hoc risk reporting and optimize as necessary,
Definition of measures for the regeneration phase,
Training, coaching, and awareness-raising activities for employees involved in risk assessment,
Challenging the current risk management approach,
Design, optimize and further develop early warning indicators and ensure appropriate reporting channels,
Analysis of existing risk management measures and their implementation, as well as establishment of continuous monitoring,
Evaluate the benefits of a GRC tool implementation.
In addition, we are happy to address your individual risk management issues and develop suitable solutions for you.
If you are interested and have any questions, please do not hesitate to contact us.
Do you have any questions about our services or WTS Advisory? We look forward to your message or your call!