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Operational Risk Review/Management

Operational Risk Review/Management

Risk is inherent in business—it goes without saying. Today, companies are exposed to more risk and more kinds of risk than ever before. That is why it is essential that companies plan ahead for events that might compromise their quality, supply chain, customer loyalty, and/or the safety and security of their organization, activities, and projects. Effective risk management is a key component of effective governance.

A New Philosophy

Traditional approaches to risk and liability management rely heavily on managing projects in response to events. Kestrel Tellevate’s risk and liability management focus goes beyond event-driven project management. Our philosophy is one in which effective program management and process improvement—in addition to handling the issue at hand—come together in an effort to identify and reduce future risks and liabilities.

A fully integrated enterprise risk management program looks at company business and operational processes to create a comprehensive approach that reduces variability in process execution, produces more predictable operational and financial results, and sustains business over time.

Turning Potential Risks and Liabilities into Opportunities

Operational Risk Management CycleKTL helps prioritize risks and develop risk management plans so companies are equipped to handle the risks that accompany operating a successful a business. We identify and assess risks to operations, and then help design and implement risk management strategies that align fully with the corporate vision and objectives.

Effectively managing an organization’s risks and liabilities further requires input from several key company areas—finance, safety and environmental, legal, risk management, and operations. Correspondingly, we believe in linking the entire process of risk and liability management to the organization’s business strategy. Doing so helps improve overall business performance, as reflected on balance sheets and income statements and in compliance assurance.

By proactively building strategic, enterprise-wide risk management solutions, we help turn potential risks and liabilities into opportunities—to achieve higher economic returns and protect employees, communities, customers, and the environment. This, in turn, protects and enhances overall business value.

Services

Understanding and effectively managing risks is vital to organizational sustainability. Our risk and liability management services include:

  • Risk identification, assessment, and risk-based planning and design
  • Program and organizational development, improvement, and change management
  • Valuation and management of liabilities and asset retirement obligations
  • Acquisition due diligence and integration process development
  • Design, streamlining, and standardization of internal controls and processes
  • Incident investigation and cause analysis
  • Performance reliability improvement
  • Liability estimating and reserve setting processes to support SEC reporting and Sarbanes-Oxley Act compliance
  • Consultant/contractor selection and management
  • Regulatory compliance management
  • Insurance product evaluation and selection for risk transfer and site operations