Streamlining Enterprise Risk Management

The Challenge

A U.S.-based private financial services enterprise risk management (ERM) team was overextended.  As a result, risk assessments were slow, costly and had poor coverage across the enterprise. The service was highly-centralized and constructed around manual processes that added ten hours of overhead each week to already over-allocated resources.

The Solution

Level Nine performed a comprehensive review of the ERM program to identify process and tooling inefficiencies. As a result, we found 85-90% of risk assessments followed a statistically-predictable pattern. Level Nine assisted in standardizing common activities and embedding risk assessments into business processes traditionally requiring costly ERM engagements. Consequently, the majority of ERM overhead was shared across the entire enterprise, allowing ERM resources to focus on complex, high-risk assessments.

90% of ad-hoc assessments follow a statistically predictable pattern.

Are your high-cost resources enaged in repetative, low-risk work?

After the Engagement

Since our involvement, the ERM team virtually eliminated the overhead associated with ad-hoc risk assessments and increased the throughput of upstream business processes. As a result, the ERM team supplies better coverage across the business but spends only one hour each month directly engaged in risk assessments.

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