We provide a range of solutions to help you set up and manage an effective ERM program. Our approach is designed to establish a sustainable framework and strategy for managing risk and addressing a range of uncertainties. Using a web-based, integrated risk management solution, we help you become conversant in ERM methodology and processes. In addition, we train your ERM leaders, advisory groups and risk owners about their responsibilities relative to risk within your organization.
Based on the ISO 31000 Risk Management Standard, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management – Integrated Framework and the Canadian Standards Association, Gallagher’s ERM software tools allow you to build a risk repository tied to company objectives, supporting key risk management metrics and risk appetite. In turn, you can then deliver targeted risk assessments to evaluate identified risks within your environment and manage the reduction, transfer or acceptance of assessment findings.
Gallagher Risk Management Services team guides companies in implementing an ERM program specifically designed to meet its unique needs and resources with the following ERM services:
- Development and implementation of education materials (from employee to the management and board member level) to integrate ERM into your organization’s culture as it relates to identification, assessment and treatment of risk.
- Assessment of your organization’s current risk management maturity position along with recommendations for a framework tailored to the needs of your organization to achieve a “best practices” ERM status.
- Development of your organizational ERM “risk map” to set your ERM priorities.
- Assessment and understanding of your company’s risk appetite in a manner that allows a more quantifiable analysis of risks facing you have or may encounter.
- Development of a risk management charter that defines the purpose, roles and responsibilities of risk management through all levels of the organization balanced by metrics and methods for monitoring progress and success of the ERM framework.
Given the complexities of issues confronting public sector operations these days, enterprise risk management has evolved into an adaptable solution and foundation for cities, counties, schools and insurance pools seeking more robust and comprehensive protection programs.
ERM represents a paradigm shift that considers both positive and negative consequences of risks upon your objectives. It supports engagement with a wide range of stakeholders and factors in complex organizational structures and business objectives into the next decade. Given this flexibility, we believe ERM will become the new “norm” for how we collectively and individually manage risk.
The New Language of Risk [ Whitepaper]
In November of 2009, the paradigm for how we manage risk changed. The "new language of risk", and how to implement an enterprise-wide approach to risk management, is grounded in the value that risk management can bring to an organization. Gallagher's The New Language of Risk Management whitepaper addresses the topic of Enterprise Risk Management (ERM) - for public or private organizations, the nuances of regulations and more.
What Every School Official Should Know about Enterprise Risk Management [ Whitepaper]
Given the complexities of issues confronting school districts these days, enterprise risk management has become a necessary foundation to your protection programs. From new ISO standards and more over the past few years, the new language of risk and how to implement an enterprise-wide approach to it, is outlined in this Gallagher Public Sector whitepaper.
The ever‐changing landscape of colleges and universities is compounded these days with intense competitive pressures, a volatile economy and increasing levels of consumer demands and expectations – all of which create a dynamic environment filled with risks.
There is a great deal of focus on accountability at the administrative and board level levels of colleges and universities. Our Enterprise Risk Management (ERM) consulting services include structuring an institutional leadership team with clearly defined roles and responsibilities, a process to identify and quantify material risks, mitigation techniques, assignment of risk ownership and sustainability procedures. The recommended solutions are scalable to the needs and challenges of each institution.
Gallagher Higher Education Think Tank Study: Road to Implementation [ Whitepaper]
The Gallagher Higher Education Think Tank Study - Road to Implementation examines the significance of colleges and universities implementing a comprehensive enterprise risk management (ERM) program to help them better manage their risk with a “road map” strategy.
Gallagher Higher Education Think Tank Study: Collaborative Risk Management [ Whitepaper]
The Gallagher Higher Education Think Tank Study - Collaborative Risk Management examines the concept of using functional network structures and collaborative teams that are formed to manage enterprise-wide risks.
Enterprise Risk Management (ERM) provides a powerful integrated enterprise-wide framework allowing food and agribusiness organizations to consider the positive and negative implications of risk at all levels of the organization, whether insurable or not. Unlike traditional risk management, ERM addresses with a variety of risk types - such as hazard or event risk, operational risk, strategic risk and financial risk.
The Gallagher ERM solutions offer food and agribusiness companies the ability to identify, document and assess operational, hazard, financial and strategic risks as a dedicated discipline. Using a proven methodology and process, we effectively integrate and embed ERM into existing management systems, planning processes and business processes and to apply it on all levels, across and throughout their organizations.
Risk Assessment is a critical component of the Enterprise Risk Management process. It requires an organization to identify and manage potential events that may affect its ability to successfully implement well-crafted business strategies and achieve objectives. Having identified and assessed the relevant risks, management should determine how it will respond to issues that surface.
Gallagher's Risk Assessment services are designed to assist you, through a methodical assessment of your major organizational risks and to:
- Identify and adopt a suitable risk assessment methodology
- Develop criteria for accepting risks and identify acceptable levels of risk
- Assess potential threats and vulnerabilities across all departments and business units
- Develop risk registers that reference all of the primary identified risks, their analyses and evaluation assessments
- Choose risk responses that will generate the anticipated risks scenarios while within risk tolerances
- Ensure that risk assessments produce comparable and reproducible results
- The results of the Risk Assessment would help guide and determine appropriate actions for managing organization-wide risks and implement controls selected to protect against the likelihood of identified risks.