Riskonet is your “partner for the unexpected”. In collaboration with you, we apply our expertise and experience to identify the risks you are exposed to and above all, manage them while organising your safety too. We use our expertise to guide you in thought-through and effective risk management providing you with our three step result-oriented support.
Assessment & consultancy
Riskonet analyses risks and provides thorough and sound advice regarding potential, known and inadvertent consequences. In our assessment & consultancy practice, we advise on risk-reduction investments to optimise business resilience.
The concept of managing risk is nothing new, to both small and large organisations. Irrespective of whether you operate in the public or private sector, your organisation’s strategic objectives are exposed to risks.
The type of risks an organisation is exposed to depends on the strategic objectives that are set, as well as the ability of its management to adequately identify the opportunities and threats that these bring to the fore. While many risk programmes are developed to deal with compliance and legislation, some of them fail to capitalise on the opportunities that deliver the kind of results that will support sustainable growth and improve business resilience. Mature risk organisations often perceive lost opportunities as more significant threats to the continuity of the enterprise than merely addressing the threat of fines and penalties.
Our experts have years of experience as consultants. They are observant and pragmatic with a well-developed instinct for business economics. They have an aptitude for always finding solutions and possibilities. Riskonet translates and gathers these solutions, possibilities and their practical application in a Principles Document (PD) as well as a Requirements Programme, which collectively serve as the starting point for developing a leading risk policy.
Our solutions take into account an organisation’s strategic objectives, where the focus is often on value creation. These strategic objectives are broken down into three key areas:
1. Human capital
2. Other assets
Once the strategic objectives have been developed for these three pillars, the associated threats and opportunities are defined and evaluated. Each outcome is assessed against a cost and benefit feasibility framework required for executive decision-making.
HOW WE ASSESS RISKS: FMECA
On our client-specific ‘Failure Mode Effect & Criticality Analysis’ (FMECA), Riskonet assesses the potential risks that companies are exposed to. Our experts assess the probability of these risks, as well as their potential impact, after which they compile a qualitative evaluation. In consultation, we then determine which of these risks and impact scenarios are acceptable or unacceptable, and which damage limitation measures can be taken.
To develop bespoke solutions for our clients, we apply a combination of analytics, actuarial modelling and our expertise. Clients acquire superior information to incorporate into their decision-making processes, integrated-risk reporting, and capital allocation for application in operational and financial-risk considerations. Our suite of services encompasses a wide range of enterprise and insurance-risk modelling and concomitant management, reporting, accounting and assurance services.
ASSET SAFETY FOR LOCATIONS: GAAS
Companies want to maintain control; after all, the security and continuity of their operations are always paramount. This is why asset safety is an important item on Riskonet’s agenda. Thanks to the design of the ‘Gap Assessment Asset Safety model’ (GAAS), Riskonet can offer a comprehensive scheme for asset safety on location. Riskonet specialists always examine the complete combination of current legislation and regulations, company continuity and the insurability of the assets. Any shortcomings and other findings are included in a report, along with a proposed solution to achieve the required outcome. If necessary, and in consultation with the client, specific improvements can be found on the areas of:
• personal safety and evacuation;
Implementation & execution
After carrying out a thorough assessment, we agree a risk philosophy, which is then recorded in a principles document. Based on this document, in conjunction with a requirements programme, we develop and implement a risk policy that is both workable and enforceable.
This could mean, for example, that we separate specific business processes. Alternatively, we could set up and carry out an investment programme to mitigate potential risks that might prevent the organisation from achieving its strategic objectives.
Riskonet designs and implements a broad range of risk-management programmes around existing infrastructures, assets and operations, as well as for new construction and engineering projects. The overriding objective is to ensure that an organisation’s risk policy is strictly observed. Our advice is pragmatic and based on years of experience.
Maintenance & optimisation
Riskonet ensures that your risk policy and its practical application stay up-to-date with legislation and regulations, insurance requirements and strategic business developments.
We invest in long-term relations. Our periodical check-ups ensure continuity of your risk policy. Organisations must continually reconsider their company’s risk management. Both external and internal requirements change so often that risk management might need to undergo drastic alterations.
IDENTIFYING AND COUNTERACTING RISK BLINDNESS
Riskonet can act as an external consultant to help you identify and counteract ‘risk blindness’. Monitoring asset risk management is crucial to its success. Although a company’s technical equipment might be in good working order, a routine check-up could bring to light that on the organisational side – or even within the company’s risk culture – that there is room for improvement. Whether or not an accident or calamity has served as a wake-up call…
Our services give our clients control over their own safety situation. They provide this control through, amongst other things, a series of much sought-after solutions that have repeatedly proven their worth in many organisations. The three specific Riskonet assessment solutions described below offer extremely targeted support.
Pre Acquisition Risk Assesment
One specific assessment form is known as a Pre-Acquisition Risk Assessment (PARA). In it, Riskonet advises clients on the current safety of objects they are thinking of acquiring and the risks associated with them. A PARA can, for example, be a useful and integral part of a broader due diligence investigation on a piece of real estate that a client might be thinking of acquiring. Our clients tell us that the impression they get of an asset (in a financial, legal and usage context) is not considered complete without this technical assessment, which pays specific attention to material safety.
Pre Construction Risk Assessment
The Pre-Construction Risk Assessment (PCRA) is a comparable service that is specifically aimed at clients who are about to start a building project or acquire one. Using this product, Riskonet experts can draw a complete picture of everything which might affect safety in a new building or development project. The PCRA enables Riskonet to support you in aligning a new-build investment with your risk profile and strategy, while considering legislation, regulations and insurers’ requirements.
Gap Assessment Asset Safety
Companies prefer to maintain autonomous control over the safety and continuity of their business processes. The Gap Assessment Asset Safety model (GAAS), which we developed ourselves, enables us to offer an integrated approach to material safety on location. The GAAS focuses on current legislation and regulations, business continuity and the insurability of the assets. With it, we can identify possible shortcomings and flag improvement opportunities, such as personal and evacuation safety, prevention and suppression.