Enterprise Risk Management

Every organization tries hard for growth and success. But, it does not come without hard efforts and consistent plans. Being stuck in business growth or failure is common around the world including Bangladesh. There could be so many reasons of business failure. The root causes may also have chaining effects in certain cases. Therefore, organizations need to put adequate safeguards in protecting their business plans. They need high-level expertise and experience in ERM which they normally do not possess, as they are more focused on day-to-day operations and managing challenges. Here we come to your assistance.

Internal Control Framework

We define specific control standards for an organization in a uniform framework so that it can be linked with all areas of ERM.

  • Defining controls as standards derived from business objectives and various professional standards
  • Control self-assessment & monitoring models, tools and dashboards
  • Mapping of standards for easier compliance reporting

Risk Management Framework

ERM is a big domain. We offer our professional assistance to our clients to put risk management on the wheel effectively.

  • Comprehensive risk registers & mitigation plan
  • Key risk indicators & risk monitoring process
  • Risk monitoring dashboards
  • Risk network & risk intelligence
  • Core risk management manuals
  • Management action triggers (MAT)
  • AML/CFT risk assessment & mitigation
  • Fraud prevention and detection system
  • Business continuity planning

Compliance Management Framework

Banks have so many areas of compliance. We can help the banks to perform the following works:

  • Comprehensive compliance register
  • Compliance req. dissemination process
  • Periodic compliance declaration process
  • Compliance assessment & reporting process
  • Compliance dashboards

Budgetary Control Framework

Every organization strives for planned and projected view of business and puts efforts to achieve it. Budgetary control practice great helps this effort. We assist our clients to establish this control in the following areas:

  • Activity-based budgeting (AOP) using BSC
  • Risk grading of budgets from activity risks
  • Budget enforcement process & sys. integration
  • Budget monitoring dashboards
  • Flash & forecasts

Risk-based Audit Framework

Risk-based audit is the modern approach of auditing. We assist our clients to develop a very effective risk-based audit function in the following areas:

  • Internal Audit Manual development
  • Internal Audit QA manual
  • Risk assessment process & templates
  • Data request tracker & progress dashboards
  • Audit work program for major audit units
  • Audit reporting format
  • Audit compliance follow-up process & dashboards
  • External independent QA audit on Internal Audit

Special Assignments

We assist our clients in undertake special projects such as:

  • Fraud investigation
  • Labour Act compliance audit
  • Root cause analysis assignment & preventive control design

Internal Audit Outsourcing

We also perform internal audits for different sectors and help our clients in the following areas:

  • Functional setup & team building
  • Audit process & templates development
  • Audit software (AMS, CAAT) implementation
  • Enterprise-wide risk assessment (EWRA)
  • Annual audit plan development
  • Performing audits according to the plan
  • Periodic BAC reporting