Risk management

The comprehensive service consists of:

• development of a risk management methodology
• implementation of an integrated risk management system
• support in the initial interaction of the risk management process
• support in developing plans for dealing with unacceptable risks
• implementation of an IT tool for risk management erisk
• tailored training in risk management (Risk Manager ISO 31000)
• review of the risk register
• Optimization of the risk management model
• workshops for employees on risk identification, analysis, and evaluation

Of course, we will tailor the scope of risk management services to the needs of your organization. Whether you want to conduct an audit, analysis, or a specialized training, get in touch with us. Increasingly, our clients are opting for outsourcing, co-sourcing, or nearshoring of risk management activities. In such cases, PBSG becomes an internal consultant, handling all aspects of the risk management process. Contact with the consultant can be in person, remotely, by phone, or via a dedicated service desk. The client continuously receives all necessary materials, and a knowledge library on risk management is created, accessible to the client’s employees. This knowledge stays with the client, allowing them to take over the management process at any time. The consultant’s task is to plan activities related to risk management, update plans, test plans, and ensure the adequacy of the adopted model to the client’s business processes and their changes.

In response to the COVID-19 crisis, we prepared the latest solution for risk management, which we launched for our clients at the end of 2020. The service helps organizations better manage critical risks in emergency situations that arise daily during the pandemic.

We are proud that we were able to provide our clients with the infrastructure and methodology to quickly implement digital solutions for risk analysis in coordinating responses during crises. The service allows you to quickly analyze threats, improve coordination of personnel and logistics, and gain real-time insight into response actions.

In addition to the erisk digital service, we are also proud of the great effort made by our engineering teams in developing reference models and risk assessment methodologies that help manage complex information flows in crisis situations. The application is also available online, and specially prepared teams are ready to assist with implementation, configuration, and coordination of solutions.

We are confident that implementing our risk management platform at your organization will deepen your knowledge of available threats and resources, and enable you to prepare the best response in the fight against the pandemic.

Supplier risk management is the process of identifying, assessing, and mitigating risks related to supply chain disruptions caused by supplier actions. In practice, this means establishing rules and methods within an organization to ensure that external collaborations do not pose threats to the continuity of operations and the final business outcome.

Supplier risk management involves proactively identifying what might go wrong in supplier relationships and preparing a plan to address those issues. Failing to do this or inadequate preparation will inevitably lead to undesirable surprises.

Risks include supply disruptions, environmental and security crises, data breaches, and attacks on the brand and reputation. All of these risks can affect your company’s reputation and cause serious financial problems.

There are three steps to developing a supplier risk management plan, based on effective supplier risk analysis:

1. Identify threats

Is the risk high, medium, or low? Defining the most critical threats requires the involvement of multiple departments and teams. Next, assign responsibility for each type of risk. It is important to determine what data needs to be collected and why. A good starting point is asking questions such as: What information about the supplier is important for your organization? Do groups or categories of suppliers have different compliance requirements? Do the reporting frameworks you use provide the required information?

2. Evaluate the risk

After identifying each risk, you need to assess it. The decision to accept a certain risk (bear the costs) or to take preventive or mitigating actions depends on the organization’s risk appetite. The cost of risk mitigation can be so high that it doesn’t make financial sense. To succeed, you need internal commitment at all levels. All relevant parts of the company must understand their role in evaluating the supplier, from the first contact to the development and maintenance of the relationship.

You may not be able to manage all risks at once. Prioritize and group suppliers based on factors such as risk, expenditure, regulations, or performance level.

3. Develop a contingency plan.

An essential step is to develop actionable plans. In relevant cases, alternative solutions for undesirable events should be prepared according to priority and include all necessary details for actual implementation. This may involve defining escalation procedures that the company must follow in the event of an incident.

Additionally, responsibility for managing any discrepancies in specific areas must be assigned, and there may be a need to meet minimum general standards that suppliers must comply with to cooperate with you.