A risk that is written down, measured and given an owner is a risk you can manage. We build that structure for you: the risk management unit, the risk register, the reports and an action plan for each risk.
We start with management and the head of each unit, and we write down the risks they see. Each risk is scored for likelihood and impact and gets an owner. You receive a register your team can keep up to date, and at each reporting period we review it with you and report to management.
Law 5013/2023 added a chapter on risk management to Law 4795/2021, with deadlines for central government bodies to set up risk management structures. We have set up risk registers for state-owned companies, a national regulator and a state research institute.
Risk management is led by Panagiota Ch. Fitsorou, CICA, CCS, Head of Risk Management and Compliance Services.
Our risk team is also building an AI tool for its own work. It drafts register updates and report text faster and follows the COSO ERM method we use. The risk manager always has the final word.
A single list of the risks an organisation faces, with the likelihood and impact of each, the controls in place, the person responsible and the actions still open. It is the working tool of risk management and the first document an auditor asks for.
A framework for enterprise risk management published by COSO. The 2004 version we use sets out eight components, from the internal environment and objective setting to risk response, control activities and monitoring.
Law 5013/2023 added a chapter on risk management to Law 4795/2021, including deadlines for central government bodies to set up risk management structures. The duties of each body depend on its type.
Tell us how your organisation works today. We will propose the right structure.
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