Enterprise Risk Management

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Understanding the Enterprise Risk Management Process

What is it?
Enterprise Risk Management (ERM) is an emerging process that can serve many purposes: as a tool for risk management, strategic planning, and identification of emerging opportunities and potential competitive advantages. It enables companies to effectively deal with investors’ concerns and associated risk and opportunity, thereby enhancing the capacity to build value. Value is maximized when management sets strategy and objectives to strike an optimal balance between growth and end goals.
What benefits does ERM provide?
  • Being Investment Ready
  • Aligning risk appetite and strategy
  • Improved compliance with legal, regulatory and reporting requirements
  • Increased efficiency and effectiveness of operations
  • Enhancing risk response decisions
  • Identifying and managing multiple and cross-enterprise risks
  • Reducing operational surprises and losses
Key Questions to consider when Implementing ERM:
  • What are the major drivers of your business strategy?
  • What internal factors could influence or hinder your strategic positions?
  • What external events could also influence or hinder your strategic positions?
  • Do you have the right processes and systems in place to address these internal and external risks?

Enterprise risk management in practice: A Case Study

This startup failed and lost potential investors

Failure is difficult to handle, but there is no better teacher. While it’s easy to see all the mistakes you made in hindsight, don’t let yourself get to that point. The purpose of this case study is to highlight the failed processes used by SUBIL Corporation and to illustrate ways they could have integrated ERM in the context of investors’ concerns. It is based on real life example of how companies attempt to better integrate their ERM process within their strategic investment planning process.

Background of the Organization

Headquartered in Singapore, SUBIL Corporation is a company that offer a broad range of construction, engineering, technical, scientific, logistics and information services. The company was founded in 2016 and has grown organically and through a number of acquisitions.

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Lessons learned
  • Major participation on the part of executive members and staff is essential in identifying and prioritizing risks.
  • Management develops a portfolio view from two perspectives: Business unit level & Entity level
  • Management considers how individual risks interrelate.
  • Policies and procedures that help ensure that the risk responses, as well as other entity directives, are carried out should occur throughout the organization, at all levels and in all functions.
  • Concise reporting and Ongoing monitoring on key risk exposures are essential for effective risk management.
Engage our consulting service

The first step to developing and advancing your ERM is identifying risk across your organization, then creating repositories of mitigation activities, controls, and procedures to cover the areas that need it most.

My service connect these dots to the requirements and resources they influence so you can easily spot risks and opportunities. My solutions are personalized to help you craft investment worthy business plan, optimize the financial presentation of your company as well as doing thorough risk assessment to know the exposure you are potentially facing in your business.

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