Many organizations struggle to link enterprise risk management to key functions such as audit, compliance, business continuity, and sustainability. The intersection of strategic business units (SBU) such as Legal, Finance, IT, HR, Compliance, Audit, etc. is crucial to a convergence of a corporate risk framework.
Milliman can help your organization create a corporate risk framework to align these functions and bring together strategic business units from across your company.
Developed around your people, processes, and infrastructure, a Milliman risk framework will enable you to improve the way you:
- Assess cross-functional risks
- Mitigate risks by deploying appropriate people and processes
- Monitor systems and processes around risks to ensure return on mitigation capital
- Respond with necessary improvements to risk framework
Milliman can also help you to embed effective risk framework processes and practices throughout your organization by communicating their importance and promoting their consistent adoption and use.