WDA have developed the service offering of a Fully Outsourced Risk Management Officer. The service is tailored to suit your Organisations risk environment.

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.

  1. Assess existing risk management function, risk register, past reports, Internal Audit Reports, Compliance Reports etc.
  2. Review Risk Polices (including Risk Tolerance Statement) & make recommendations for improvements (where required)
  3. Risk identification review/workshop
  4. Reassess and analyse all risks
  5. Review effectiveness of risk treatments and apply treatments if necessary
  6. Deliver risk reports to Management team and Board of Directors
  7. Develop Risk Management Handbook
  8. Deliver risk training to help embed risk culture
  9. Review loss events and leading indicators
  10. 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