Do you have an enterprise risk management framework?
We can help you reduce business risk and prevent financial losses by ensuring you have a well-planned risk management process in place.
In our experience, far too many organizations—about 75%, in fact—do not proactively work to identify uncertainties and risks that could negatively impact their operations.
For example, how prepared are you for business continuity interruptions, the virile nature of social media, and the emergence of disruptive technologies, to name a few?
Ask yourself the following:
- Do you feel like you spend too much time responding to unforeseen problems?
- Do you know the top five risks that could impact your organization?
- Do you have a risk management process in place?
- Do you have adequate insurance?
A known risk is much less threatening than being blindsided by one. Find out how OTUS Group’s approaches to risk management can give you greater peace of mind:
BUSINESS RISK ASSESSMENT
A Business Risk Assessment is an important first step when you want to identify the risks that could negatively impact your organization. OTUS Group has completed well over 200 assessments of small companies and not-for-profit organizations to date, enabling us to establish a benchmark and measure your risk tolerance against organizations just like yours.
The outcome of your Business Risk Assessment is a better understanding of what improvements can be made in the shorter and longer term—and how you could even pursue opportunities to save money. For many organizations, the savings achieved are greater than the investment in the Business Risk Assessment itself.
VIRTUAL RISK ADVISOR
We have witnessed organizations consider risk assessment to be a “once and done” task, an attitude that is perplexing given that we face changes—both seen and unforeseen, large and small—from one day to the next. Proactively managing risk should ideally be an ongoing exercise.
If you don’t have the expertise or resources to follow through, consider the services of a Virtual Risk Advisor. Like other management consulting experts, a Virtual Risk Advisor can offer the affordable flexibility of scaling as-needed and when-needed support.
With a Virtual Risk Advisor, you will have the support you need to maintain an ongoing awareness of how to recognize, monitor and mitigate costly risks.
COMPLIANCE READINESS ADVISORY SERVICES
Perhaps your organization is preparing for its first financial statement audit. Maybe you are seeking to align with the expectations of a particular standard, produce a Service Organization Control (SOC) report, or obtain compliance certification.
If the need for compliance readiness leads you into unfamiliar territory, OTUS Group can assist with audit and compliance preparation. We can also provide guidance about how to shift your organization’s culture toward a higher level of structure and ongoing control.
Our team of management consulting advisors includes professionals with backgrounds in various assurance advisory services. We’re dedicated to ensuring you will be better prepared, more confident and less stressed once you engage with your auditors or assessors.
Have you ever made a significant investment in a strategic plan, only to end up with a document that lands on a shelf? You’re not alone—it’s a significant and relatively common risk.
At OTUS Group, our customized action plans are designed to systematically mobilize, engage and advance the strategy over an initial 90-day period. After achieving this milestone, we will measure progress, assess impact, and recommend a new set of goals for the next 90 days.
Unlike strategic plans that begin with a strong push only to lose momentum, OTUS Group strategic plans continue to apply 90-day rolling time horizons with practical, achievable steps for three to five years.
This approach not only allows for course corrections when necessary, but provides clients with manageable cycles to build on their progress as they navigate towards successful outcomes.
When you think of information technology (IT), do computers, tablets and smart phones come to mind? Above and beyond managing the devices, is your organization sufficiently managing the risks associated with the information that they store and transmit?
At OTUS Group, we can recommend solutions to help you better protect your information assets. In addition to risk management, we can investigate efficiencies and cost savings.
From virtualization to cloud computing, we can also recommend and refer solutions designed to enhance performance and transform how you manage your business.
HUMAN RESOURCES MANAGEMENT
Jim Collins described it well: “Organizations that go from good to great start by getting the right people on the bus, the wrong people off the bus, and the right people in the right seats.”
To do less is to risk not having an “A” team in place, and you need your “A” team to reach your objectives. We can assist you by reducing risks relevant to human resource management through initiatives such as:
- Organizational reviews
- Establishment of appropriate Human Resources management processes to scale with your organization as you grow
- Advice to resolve a Human Resources issue fairly and in compliance with local employment standards
Whether you work in the not-for-profit, private or public sectors, OTUS Group has the experience to adapt to your organizational needs.