The uncertain economic times have had a major effect on how companies operate. Companies that used to operate smoothly with the help of forecasts and projections may now refrain from making business judgements that are set in stone. Now, companies have a renewed focus: Risk Management.
Effective use of Resource and Spending
While developing a risk management framework it does not replace the need for day to day risk management. The framework and the tools used to perform the risk management functions will provide a consistent and structured approach as well as eliminate redundant processes, improve efficiency by allocating the right amount of resources to mitigating the risk. A saving in cost and time!
Coordination of Regulatory & Compliance matters
Ensures that regulatory / compliance issues are on the risk agenda and the relevant Impact score is correctly calculated.
A relevant and current example: Current Data Protection fines – up to £500k, new European GDPR fines between 10-20 million Euros or up to 4% of global income.
Do you have a Risk focused culture?
NexusProtect can help your business understand its risks. A business needs to identify, asses, and prioritise risks with a coordinated and economical application of resources so to minimize, monitor, and control the probability and/or impact of unfortunate events.
NexusProtect will help you develop a more Risk Focused Organisation – Improved communication and discussion of risk is recognised as not only a process to provide information to senior management, but a way to share risk information within and across operations of the company, and allow better insights and decision making concerning risk at all levels.
NexusProtect has expertise in the following Key Risk Management Processes:
Let NexusProtect help you identify your risk and manage it effectively.