The COVID-19 pandemic is, with little doubt, the most challenging crisis many people will see in their lifetimes and without a doubt, it will be the more challenging crisis that many businesses will face. To successfully navigate these challenging times, firms will need to take a strategic approach; first and foremost, they must protect their existing business and then, look to grow the value of the business as opportunities will no doubt emerge.
Firms who have implemented and embedded an integrated, enterprise approach to risk management will be best positioned for survival and growth at these uncertain times. Such an approach should include;
- Business Model and Strategy, including a suite of Business Objectives
- Risk Appetite and Risk Capacity
- Scenarios
- Financial and Non-Financial Risks. These risks will exist at the Enterprise, Market, Compliance, Technology and Operational level.
KRM22’s Global Risk Platform provides applications to help you address your firm’s regulatory, market, technology and operations risk challenges and to manage your entire enterprise risk profile. KRM22 is a public Group listed on AIM and headquartered in London, with offices in several of the world’s major financial centers.