Enterprise Risk Management

What truly matters is that, after the company’s management defines its risk appetite, the necessary measures are taken.
This includes identifying and recognizing risks, taking the right precautions at the right time, managing risks effectively, avoiding unwanted risks, and applying preventive measures based on a cost–benefit principle for the risks that are accepted.
It also requires a performance-oriented approach to human resources, continuous monitoring of risks, and being prepared when they materialize.

In today’s global economy, positive or negative developments in one country can quickly affect others, due to the speed of communication channels and the high interdependence of financial, goods, services, and labor markets.

The Role of Enterprise Risk Management in Companies

Risk Management holds a critical position within a company’s corporate governance structure.
Whether it operates as a separate department or in a decentralized form under the responsibility of different individuals, company management must be fully aware of all the risks their organization faces. They should develop policies and procedures, take preventive measures, and maintain a business continuity plan — all within the framework of continuously updated strategic plans.

At Teolupus, we analyze your company’s internal controls and risks, create a comprehensive risk map, classify and prioritize them, and report possible measures against identified exposures — ensuring that the process becomes sustainable together with you. Upon request, we carry out these assessments on a regular basis.

Our work is conducted by Certified Internal Auditor (CIA) professionals who hold the Certification in Risk Management Assurance (CRMA), and is fully compliant with international frameworks and standards such as COSO 2017 Enterprise Risk Management Framework and ISO 31000.

Managing with a Process Perspective

A process is a chain of activities that transforms a certain number of inputs into outputs valuable to the customer.
We need management through processes to understand the current operations, measure business results, improve them, and define responsibilities.

Managing with a Process Perspective can be visualized as follows:

• Define – Document
• Measure – Evaluate
• Improve
• Redefine – Document

If the management of an organization does not identify and document its processes, it must settle for an understanding defined and practiced by its employees.

The components of Managing with a Process Perspective — in other words, process architecture — include Strategy, Performance, Business Plans, Human Resources, Enterprise Architecture, and Risk Management.

At the same time:

• If a process is strategically important for your company but currently underperforming,

• If your competitors handle the same processes differently and more successfully,

• If competitors perform the same process more cheaply, better, or more innovatively,

• If the current performance of your process is poor compared to benchmarks,

• If your customers often complain about the process, and expectations have changed or increased,

• If the cycle time of the process is too long and there is a need to improve efficiency and reduce costs,

• If new technologies or new possibilities have emerged —

Then it means your processes require improvement, and a solution is needed.

At Teolupus, when you feel the need to manage with a process perspective,
We help you define and document your processes, measure and evaluate them, and — when improvement is required for the reasons mentioned above — we assist you in optimizing them in line with your strategies and business plans at the most efficient cost.