All Arlington Risk Consulting services all fit within the 2nd line of defence in the 3 lines of defence risk management model.Working with your key staff and risk owners Arlington Risk Consulting provides a range of services through all stages of the risk management process
Your vision and strategy
Working with your Executive team, Arlington Risk Consulting will
• Help ensure your objectives are fully formed for the risk management process.
• Facilitate horizon scanning, scenario planning and other brainstorming activities with your Executive team to distil out the potential obstacles to achieving your strategic goals.
• Help you to develop your risk appetite , which determines how much risk your organisation is willing to take in pursuit of your goals and forms the basis for prioritising your risks.
Arlington Risk Consulting will work with your key staff to help you identify and tease out your business risks. Services include:-
• Prepare for the risk identification process by working with risk sponsors to capture your organisational learnings , the business environment and your Objectives.
• Facilitate risk workshops, questionnaires or other brainstorming processes utilizing the preparation materials.
• Develop your organisational risk register for use in the next stage, risk assessment.
• Assist your staff to formulate and describe risks in the correct format to facilitate the risk assessment stages and more importantly the analysis of risk controls, with simple but powerful tools such as the Bow-Tie !
• Work with risk sponsors to ensure all risks have risk owners within your organisation.
Working with your risk owners, Arlington Risk Consulting provides the following services:-
• Begin the process of categorising risks in a way which is useful for your organisation and attaching risks to the relevant objectives. Working with your risk owners and utilising the identified risks (together with the clear risk descriptions), to assess and score the risks against your risk appetite.
• Identify what risk mitigation you may already have in place to manage that risk. Score the risks at the inherent level (with no risk mitigation) and current level (with your existing risk mitigation taken into account, such as insurance, health and safety, fire etc.).
• Identify risks for escalation and decisions to senior or Executive level staff.
Risk Response and Deep Dives
Some serious risks will be identified for further investigation. Arlington Risk Consulting can help with facilitating these deep dives. Arlington Risk Consulting will work with your risk owners and senior staff to:-
• Help you identify which risks you decide require further action and choose the appropriate risk response such as rick treatment, risk transfer, risk termination etc.
• Work with you to see how your existing and planned risk controls work and whether or not they are effective. Badly designed, poorly targeted and ineffective risk controls can represent a large area where existing resources are wasted. This is therefore a very important area of risk management.
• Facilitate the updating and maintenance of your risk register including record your risk controls, target risk scores, planned activity, risk tracking including target dates for completion. Also the linking of your risks to your business objectives to assist with the oversight of your risks and decision making. The Risk Register is your organisation’s action plan with respect to risk management.
Oversight and Risk Reporting
Effective risk management requires regular review and updating of risk registers and re-consideration of existing and potentially new or emerging risks. Arlington risk consulting can be retained to facilitate these regular reviews and risk reports within your business.
Governance and Risk Culture
Arlington Risk Consulting can develop your Risk Framework which details your risk strategy (e.g. risk appetite), your organisational risk procedures and your risk architecture (i.e. hierarchy and reporting lines). By training and working with your staff together with helping your organisation to identify the cultural obstacles Arlington Risk Consulting can help your organisation achieve an embedded risk aware culture.