Risk management system: how much added value would you like?
Many companies do not exploit the full value of their investment in risk management because:
their risk management meets current compliance requirements, but only plays a marginal role in decision-making and corporate management.
their risk processes, risk structures and risk functions do not act in concert and so do not exchange critical data and information, or processes and information flows are redundant.
In the area of RISK, we deal with organizational and strategic frameworks for all a company's risk functions – Risk Management, Internal Control System, Internal Audit and Compliance (including the so-called risk management system). We also help define and develop the relevant processes and methods for individual risk functions - from design through to implementation. In doing so, we concentrate on the interplay of the four risk functions and above all on the quantification and aggregation of risks as well as their integration into corporate management.
We assist you in the simultaneous optimization of three dimensions:
Risk - degree of overall risk
Costs - scale of costs
Value - contribution to corporate value.
Risk management trends
Increasing quantification of risks (aggregation) and integration of risk management in corporate management
Reduction of cost of control (without increasing overall risk) by raising the potential efficiency, primarily for the Internal Control System, and collaboration of all risk functions
Releasing Internal Audit from its role as the "corporate police" and developing it into a value-generating business partner.
Design, optimization and supervision of internal controls and the subordinate business processes. Analysis and optimization of the cost of control. Risk convergence concepts (cooperation of risk functions).
Risk advisory for trading platforms in the energy industry in all areas of trading activities. Expertise in market analyses and quantitative methodologies for risk measurement. Optimization of internal controls for trading processes.
Economic and operational contract analyses for the best possible exploitation of contractual potential as well as the quantification of "contract leakage." Contract management and contract-related compliance.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.