This is a deliberate process of identifying the existence of current risks the organization is exposed to, the quantification of these risks and the implementation of appropriate mitigation strategy. The steps in risk assessment will include but not limited to the following;
- Identification of possible risk exposures using some red flags
- Quantification of risks
- Evaluation of risks and their impact on the organization
- Preparation of recommendations and implementation plan
- Independent review of findings and recommendations
Our risk management team which has adequate experience in carrying out the risk assessment process and recommending appropriate risk mitigation strategies is available to advise you.