When something seems overwhelming, it feels easier to put it on the back burner. “I’ll get to it later,” you say to yourself. Hey, we get it. You know you have to understand—and address—the risks your company faces. But where do you start? You start with Asfalis Advisors.
One of the most important services we provide at Asfalis Advisors is risk management. It might sound complicated, but it’s actually pretty straightforward. No matter what kind of business you have, every industry—and every product and service—comes with risk factors that can debilitate or wipe out what you worked so hard to build. Those risks include obvious things, like data breaches and supply chain vulnerabilities, as well as things you may not have considered, like low employee morale and high turnover rates.
At Asfalis, we are experts at identifying the unique threats to your company. We help you to craft the story of risk management and provide you with data to inform decisions. We do that by establishing relationships, understanding your culture, learning how the organization operates, and benchmarking like size organizations. Once we truly understand the threats and where you are currently exposed to them, we create a risk management strategy. Once you know what your risks are, you give your organization a chance to succeed.
You can stop there, or you can opt for the true peace of mind that comes with our six lines of defense:
- Governance – Governance establishes the boundaries and the framework for your risk program.
- Policy – Policy includes the objective of risk management for the organization, the statement of intent, the audience, roles and responsibilities, and future guidance for the policy.
- Process – Process includes the way in which your organization identifies, assess and manages risks.
- Tools – Tools are what you use throughout the risk management process. Tools can include your risk register, dashboard, or technology that helps you tell the story of risk.
- Culture – Culture determines how effective your risk program will be. Whether your culture embraces risk management or not, your risk program will only go as far as your culture allows it.
- Validation – Validation tells you how well your governance, policy, processes, tools and culture are working for the organization.
Unfortunately, risks are a fact of life for any organization. But with Asfalis Advisors, those risks become much smaller, and your confidence in your company’s response to—and survival within—an incident increases significantly.