OUTSOURCED RISK MANAGEMENT OFFICER

Tailored to suit your Organisations Risk Environment

WDA have developed the service offering of a Fully Outsourced Risk Management Officer.

We have outlined below how the implementation of a typical outsourced risk management engagement, please note all engagements are tailored to fit your Organisations resources and expectations.

Assess existing risk management function, risk register, past reports, Internal Audit Reports, Compliance Reports etc.

Business application Review Risk Polices (including Risk Tolerance Statement) & make recommendations for improvements (where required)

Risk identification review/workshop

Reassess and analyse all risks

Review effectiveness of risk treatments and apply treatments if necessary

Deliver risk reports to Management team and Board of Directors

Develop Risk Management Handbook

Deliver risk training to help embed risk culture

Review loss events and leading indicators

Develop mature embedded Risk function with an aim to transition to Bow Tie Risk Management

Benefits to outsourcing your Risk Function

Specific Risk functions designed and tailored to adhere to your organisations Risk Environment

A Reporting Framework that’s been developed to deliver practical and relevant information to Management team and Board of Directors.

Risk and Compliance Officers with extensive experience in risk, compliance, internal audit and governance

Fixed costs – agreed in advance (no hidden extras)

Continuity in delivery of service – no succession issues through staff rotation/cessation

No training of staff required

No employment law or HR issues

Remove potential conflicts of interest arising from dual roles (i.e. CEO + RMO)

Facilitate training for Management Team and Board of Directors

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