RISK ASSESSMENTS AND BENCHMARKING GAP ANALYSIS
Our risk assessment and benchmarking gap analysis offerings provide organizations with a strategic review of their existing risk management frameworks and risk mitigation strategies, as well as an in-depth analysis of potential risk exposure that may have otherwise gone undetected. This is a highly valuable process to continually allow organizations to benchmark themselves against industry best practices via an independent third party.The assessment and benchmarking gap analysis take into account an organization’s overall operation, and the interconnected risk categories.
By conducting an exhaustive review of the organization’s current practices, policies, procedures or lack thereof, we can help benchmark to industry standards and rate the organization accordingly. Our approach goes beyond simply analyzing the risk management protocols in place, it also takes into consideration a detailed review of the organizations risk transfer and mitigation strategy.
Our methodology seeks to identify any gaps in coverage, policy weaknesses or ambiguities and provide a roadmap to improve an organization’s overall resiliency.
KEY FOCUS AREAS:
Policy Benchmarking | Providing an in-depth review of the existing risk management policies, procedures, and framework, as well as insurance policies to examine robustness of coverage and highlight areas for improvement.
Gaps Analysis | Works to identify gaps, or blind spots within the organizations risk management and mitigation program. This process will not only look at industry best practices but will also consider the client’s business and risk profile to ensure all possible risk exposures are identified. It will also identify any coverage ambiguities that should be further examined or clarified within the policy contracts.
Comparative Analysis | The benchmarking exercise will look at industry best practices and standards. This helps the organization compare to its industry peers and determine what additional steps should be taken to limit potential risks.
Economic Analysis | Once enterprise value at risk is determined against different threat scenarios and threat vectors, organizations can make more precise investments in risk mitigation, business continuity planning and disaster preparation.