Enterprise Risk Management

ERM Program Development

Triangle Graphic

Enterprise risk can’t 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.

Tevora’s HydraRisk Model incorporates the industry standard ERM frameworks and pushes them further to create a risk intelligence ERM Program. The HydraRisk Model uses the factor of five to develop a comprehensive ERM Program Lifecycle.

ERM Program Development incorporates these ideas:

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 objective of the ERM Program is to embed 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. Tevora leverages COSO, ISO 31000, CAS, NIST and COBiT.

4. Risk Rating

Risks should not be evaluated by just likelihood and impact factors. This does not equip enterprises with the information needed to make intelligent risk decisions. Tevora’s HydraRisk Decisioning Model uses five factors to assess key criteria to properly prioritize and respond to risks.