An ERM program identifies, assesses, prioritizes, and provides a formal structure for the internal and external risks that impact the organization. It is driven by a formal approach that is aligned with the organization’s profile and strategic objectives. It is enhanced by formalizing roles within the organization, active committees, policies and procedures, reporting, communication, and technology.
Aptivaa possesses expertise and extensive experience in developing:
Risk Governance Structure& Terms of References (TORs)- The TORs detail out the Objectives, Meeting frequency, Chairperson/Head, the role of the Head of Risk Management, the roles and responsibilities of the committee or the department.
Risk Appetite Framework (RAF) - It includes the Risk Appetite Statement, underlying Risk Metrics (tolerance limits), Stress Testing framework and Strategy.The RAF framework accounts for the setting and monitoring of each of these components and incorporates the responsibilities of the various associated parties.