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Risk Assessment

 is a systematic process used to identify, evaluate, and prioritize risks that could potentially impact an organization, project, or operation. The goal is to understand the nature of risks and develop strategies to mitigate or manage them effectively.

It is a critical element of risk management, helping organizations make informed decisions about how to handle potential threats and uncertainties.

Risk and Mitigation Strategy

01

Baseline Creation

Risk Categorization and Prioritization:

  • Identify and classify risks into predefined, agreed upon categories (operational, financial, compliance, credit, climate technological, political, social and strategic)​

  • Risk Framework: Develop a broad overview to determine the risk profile to be used in subsequent risk assessments.

02

Data Collection

  • Qualitative Interviews: Conduct in-depth interviews with key stakeholders to understand each country's risk landscape and gather insights on current practices, perceptions, and areas of concern.​

  • Quantitative Assessment: Conduct a quantitative risk analysis to assess the probability and potential impact of each identified risk with detailed data analysis.​

  • Gap Analysis / Maturity Matrix: Compare existing risk management processes to identify gaps between perceived and actual risks. Build Risk Assessment Maturity Matrix​

03

RISK ANALYSIS

  • Document Review: Analyze existing policies, compliance documentation to identify potential risk areas and to evaluate the effectiveness of the current system for risk management/control​

  • Risk Scoring: Assign risk scores based on likelihood and potential business impact.​

  • Risk Matrix: Develop a risk matrix to visually prioritize risks, focusing on high-probability, high-impact risks ​

04

MITIGATION PLAN

  • Final report on Findings: research explanation and presentation on findings, besides the written report

  • Potential Mitigation Strategies and Recommendation Outline: Potential short-mid and long term mitigation strategies and recommendations to be applied in the future

Siyah Arka Plan

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© 2024 by I&Y Consultancy and Academy

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