Our client, one of the world’s largest Christian child development organizations, was on a mission to release children from poverty. As the organization has grown to serve more than 1.2 million children in 26 countries, its Office of Risk Management (ORM) is vital to ensuring that strategic programs and projects deliver the highest value with the lowest risk exposure. Our client's ORM engaged Point B to establish an annual risk assessment methodology and tool, along with executive coaching to implement it. We also conducted a Business Impact Analysis to determine the investment required to build out an effective Business Continuity Plan.
Combining risk-related efforts
Early on, we saw that our client had a timely opportunity to reap major efficiencies and impact from combining its risk and business continuity initiatives. Both projects were founded on a deep and data-rich analysis of risk. By combining them, the information we collected was more robust, much of the knowledge and insight benefited both efforts, and we avoided duplication of work, making extremely efficient use of executives’ valuable time.
Identifying the top five risks
In scoping the global risk landscape for our client, we conducted a risk inventory across the organization’s leadership, analyzed data from 157 unique risks in nine key categories, and presented our findings to the Executive Team’s Internal Audit Committee. We identified the top five risks to our client's image and operations, made recommendations to mitigate them, and developed a plan with high-level milestones and activities for the near- and long-term.
In the process, we helped the executive and leadership teams achieve a major new milestone: reaching unanimous agreement on the organization’s top five global risks and their order of importance.
When every minute counts
In the event of a catastrophe, every organization needs to know and act on the things that are crucial to its survival. Our Business Impact Analysis team helped identify the functions that our client would need to be recovered most quickly. As a result, the functions critical to keeping its operations up and running will be the clear priorities of its Business Continuity Plan.
Striking the right balance
While companies that are overexposed to risk make the headlines in a crisis, some organizations actually have more coverage than they need. Overcoverage is an unnecessary expense that may leave an enterprise vulnerable in other ways. Because Point B works in both worlds of business consulting and risk management, we take a practical point of view that aims to strike the right balance. With awareness of the greatest risks to its organization, our client's leadership is able to move forward on high-priority milestones, track progress through annual assessment, and keep risk management aligned with reality.