| Risk services should form an integral part of management as it enhances the basis for sound decision-making.
Risk services ensure proper risk assessments by means of clearer articulation of business objectives, more focused management information and a better understanding of the trade-offs between risk and reward.
Risk services, therefore, focus on assessing and identifying key risk areas within departments and agencies of the client organisation, both in terms of established and new projects. Risk services also ensure the formulation of a uniform risk management approach for its clients.
Risk assessments form the basis for planning internal audits within the organisation.
Main objectives Establish a Risk Management Committee and formulate a risk management framework and policy. Procure a Risk Management System and assist with the rollout process of this to all departments. Conduct risk management training and allocate Risk Officers to each department and municipal entity. Conduct strategic business risk assessments at departments and utilities. Review and enhance risk management strategies through continuous assessment and best practice frameworks. Form alliances with municipalities around the world to ensure the City is at the forefront of risk management.
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