Enterprise Risk Management Questions ?

Our Expertise

Your Expert Guide, Managing Insurer and
Other Enterprise-Wide Risks

For insurers and insurance groups seeking to refine how they manage their enterprise-wide risks, we develop an Own Risk and Solvency Assessment (ORSA)-based enterprise risk management (ERM) program. For all others (e.g., healthcare (non-insurer), energy, higher education, charitable foundations and trusts, banking, real estate, telecommunications, manufacturing, etc.) we create a Committee of Sponsoring Organizations of the Treadway Commission (COSO)-based ERM program.

In order to build these ERM programs, we leverage a firm’s existing risk management and enterprise business objectives or goals to perform an enterprise risk assessment that identifies and quantifies the firm’s enterprise-wide risks.

Our ORSA and COSO-based ERM programs help drive value and strategy for any firm because the programs clearly capture and convey the material risks that could impact a firm’s ability to achieve its business objectives. Also, the programs provide a solid platform for a firm to summarize the

proactive and reactive responses it would use to manage and monitor each material risk. Additionally, we build each ERM program with tools that enable the firm to continuously document its risk management approach and framework. This allows the firm to have the requisite documentation to achieve applicable regulatory compliance and at the same time have a strong risk monitoring and governance structure.

Depending on a firm’s industry, the tools we build for each ERM program could include a risk appetite statement, risk tolerance report or policy, risk register, risk heat map, risk-based capital report, value-at-risk report, risk dashboards, risk inventory report and a summary of financial impact ranges.

Reach out to us today at (949) 391-7475 (RISK) or ermconcerns@outsourcerm.com with all your ERM concerns and questions.

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