Risk assurance and communication

Can you demonstrate that your business is taking corporate governance and risk management seriously?  If not, how safe is your organisation’s reputation?

Corporate governance is now a major concern for all the stakeholders in your business for example your shareholders, employees and customers.  This means risk assurance isn’t merely a question of ticking boxes. To attract business and investors you need to demonstrate that it’s at the top of your agenda, and not simply something that’s addressed briefly in your annual report.

Communicating risk clearly

As part of the increasing emphasis on managing rather than auditing risk, many businesses have recognised the need for openness and clarity on this subject. This means having effective processes in place and communicating them in a way that will reassure potential investors and customers.

Enterprise-wide risk communication

At Zurich Strategic Risk, we can offer advice on the effectiveness of your risk assurance processes, corporate governance and risk reporting. We can:

• give you clear evidence of sound corporate judgement on the management of risks – with the potential to maintain or raise valuations and ratings by stakeholders,
  stock analysts and credit rating agencies
• deliver cost savings through informed and careful retention of more risk
• reduce the chance of a risk becoming a major corporate surprise – preventing considerable embarrassment,media criticism and loss of shareholder value
• help you develop a business culture where people share information, providing value far beyond the immediate risk assurance application.

You may already have processes and systems in place to manage risk, in which case we’re more than happy to work within your existing framework. However, if you’re not currently using a risk management system to make
risk information accessible throughout your organisation, or you’re dissatisfied with the one you have, we can apply our experience of best practice to develop an appropriate system.

Picture - combined asessment of commitment to and communication of risk management

Communicating Business Integrity

Many companies transfer their risk of negligent governance through Directors’ and Officers’ insurance (D&O). We can arrange an in-depth and independent review of your board level risks through a discreet risk profiling service – designed to identify and assess governance risks, and if appropriate to develop action plans to improve them. These D&O risk reviews provide a means of demonstrating commitment to sound governance principles and management integrity. They can help to resolve any doubts that insurance underwriters may have, and thereby contribute to better terms and conditions of D&O cover.

Combined assessment of commitment to and communication of risk management

The benefits of risk assurance

Making risk assurance an essential element of the corporate agenda can:

• reassure stakeholders and stock analysts that the business is being well managed
• help you to communicate the organisation’s attitude to risk and approach to risk management more effectively
• prevent surprises that could damage your business’s reputation
• encourage a risk management culture throughout the organisation.

Why choose Zurich Strategic Risk?

• We’re sensitive to the need to adjust our approach to fit differences in culture and overall circumstances
• We can further enhance the effectiveness of your risk communications by addressing the issue of risk appetite