Tevora partners with you to create an intelligent
Risk Management Program.
Enterprise risk cannot be removed entirely, but it can be managed in a way that protects your organization from undue exposure. Tevora relies on years of experience to deliver a proven approach to enterprise risk management. Through our proprietary HydraRisk Model, we transition Risk Management into Risk Intelligence.
Our HydraRisk Model incorporates the industry standard ERM frameworks and extends them further to create a comprehensive risk intelligence ERM Program. The HydraRisk Model uses the factor of five to develop a comprehensive ERM Program Lifecycle.
ERM Program Lifecycle
1. Risk Governance
ERM Governance starts with the Board. Governance sets the direction, ownership and tone for the entire ERM Lifecycle.
2. ERM Program
The ERM Program embeds the principles of risk management in all aspects of the organizational strategy and operations to provide a holistic approach to addressing risk.
3. Risk Assessment
Defining the right risk assessment methodology begins with understanding the executive Management’s expectations. We leverage COSO, ISO 31000, CAS, NIST and COBiT security frameworks.
4. Risk Rating
Evaluating risks must extend beyond likelihood and impact factors in order to make intelligent risk decisions. Our HydraRisk Decisioning Model uses five factors to assess key criteria to properly prioritize and respond to risks.
5. Risk and Performance Linkage
As enterprises mature their ERM Programs, they move from Foundational to Proficient to Innovative to Value Creation stages. The linkage between risk and performance indicators are key in this maturity.