The Risk Strategy – Governance, Structure & Framework service helps clients improve risk management and oversight. It provides a baseline for organizations to promote a risk-resilient culture, enhance risk awareness, integrate risk management into the overall business strategy, comply with regulatory requirements, and define roles and responsibilities for the board and executive committees related to risk management.

Famco Associates has a well-defined ERM implementation methodology to assist clients in the identification, analysis, and evaluation of enterprise-wide risks. It enables organizations to proactively identify risks as either opportunities or threats and to decide on the relevant course of action before threats materialize or opportunities are lost, thereby reducing the overall cost of risk for the organization.

ERM Maturity Assessment helps organizations understand where their risk management function stands in terms of effectively identifying and managing organization-wide risks. FAMCO’s detailed top-to-bottom review of the ERM function enables organizations to identify gaps and deviations and aids in strengthening their overall risk environment.

FAMCO’s ERM Framework establishes a unified language for risk communication across the board and executive management. Beyond managing known risks, it enables organizations to anticipate emerging risks driven by changes in laws, regulations, market dynamics, micro- and macroeconomic conditions, and rapidly evolving local and global business environments.

FAMCO provides risk-intelligent processes and systems that integrate strategic planning, internal audit, compliance, and anti-fraud programs to optimize the risk management function and enhance process efficiencies. Advanced risk analytics include the development of Key Risk Indicators (KRIs) and risk reporting mechanisms with customized dashboards to enable C-suite executives and department heads to have greater visibility of risks and related action plans.

Awareness of risk by management and employees at all levels is a critical success factor in an ERM implementation program. Our experts provide risk management training enriched with specific industry insights to build a robust, risk-intelligent culture that promotes the timely escalation of risks to higher management. FAMCO’s ERM training programs focus on reinforcing the implementation of effective risk management practices at all levels.