Assessment of the maturity of organisational risk management systems
Assessment of the maturity of an organisation’s risk management system (RMS) is the process of determining the level of development and effectiveness of the system, and its compliance with standards and best risk management practices. It helps identify weaknesses and define areas for improvement. The system must align with business needs and incorporate applicable best practices.
Areas of work in assessing RMS maturity:
- Evaluation of the risk management function within the organisation:- Analysis of internal risk management policies for compliance with business requirements and best practices (e.g., ISO 31000:2018).
- Interviews with risk management personnel to clarify the target RMS model.
- Review of evidence demonstrating the implementation of risk management procedures in organisational activities.
- Assessment of RMS maturity and its conformity with organisational goals.
- Development and coordination with management of recommendations to bring the RMS into compliance with the target state.
- Analysis of internal regulatory documents governing the business process.
- Review of evidence demonstrating the implementation of risk management procedures within the business process.
- Assessment of risk management maturity within the business process.
- Development and alignment with management of recommendations to ensure that risk management for the business process complies with the target state.
Upon completion of the RMS maturity assessment, the client receives:
- List of deviations in RMS maturity criteria from the target level (if any).
- Recommendations for defining key areas to develop the organisation’s RMS or within specific business processes.
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