In a challenging business environment, effective risk management is a fundamental prerequisite for success. The best managers view their business from an overall perspective and govern their risks across functional and organisational borders. DNV has developed a CwRM system where technology, activities, systems and business environments are seen as a whole and the risk pictures of relevance are established at all organisational levels.
Purpose
CwRM enables you to systematically identify, balance and control your portfolio of business risks, aligning your risk profile with your risk appetite.
Benefits
Overall and effective risk management helps companies to take advantage of business opportunities. It increases their competitive strength and reduces the time management spends on ‘fire fighting’. The expected reduction in risk and the increased ability to achieve business goals will strengthen stakeholder trust in business’ results, management and processes.
Over time this will:
- Safeguard life, property and the environment
- Enhance value-creation
- Strengthen the reputation of the company.
Our approach
Overall risk management involves identifying all aspects of importance for the business’ risk exposure. This is a prerequisite for effectively managing limited resources according to the risk appetite of the business.
DNV has developed a Company-wide Risk Management system (CwRM) in which technology, activities, systems and business environments are seen as a whole, and a picture of the relevant risks is established at all organisational levels. In this way, we ensure both that decisions are based on a solid foundation and at the right level, and that the solution secures and develops value.
The risk management policy, the risk management process and the risk management structure are central elements in our CwRM system. The policy gives us the principles and is the organisational units’ guide for carrying out risk management. The process is the clockwork in the system. It ensures that the mapping of risk exposure, preparation of plans for treating and controlling risk and tracking it are carried out periodically and systematically. The structure defines the organisational layout for risk management, including arenas, roles, responsibilities and authority. The structure ensures a living process where the risk is filtered, adjusted, communicated and agreed upon.
Typical services include:
- Risk management aspects of corporate governance
- Assessment of risk picture
- Management systems design, implementation and measurement.