RMA has developed a powerful and creative approach to managing risk using a client’s risk register as the primary instrument with which it monitors and manages its risk profile, the “RMA Approach”.
The RMA Approach is designed to work with governments and corporates alike and is not industry specific. It has been adopted by companies in the airline, biofuel, property, beverage, water purification and shipping industries and is currently used by companies in Singapore, China, USA, the EU and the UK. RMA has also provided advice to a political institution in the UK and an international educational establishment.
The RMA Approach focuses on the institution’s risk register, the ‘Register’, as the foundation from which it manages its risk profile. The Register, which is typically a mandatory requirement for organisations of any size, should be central to the provision of assurance to the Board, who have ultimate responsibility for risk management.
Our RiskMatrix Approach enables the Register to become a living document that records matters that management are concerned about in a way that encourages and tracks actions to mitigate them. In this way the Register can be used to establish a distinct risk agenda.
Four Stages of the Risk Matrix Approach
Whilst the component parts of the RiskMatrix Approach are similar to industry recognised risk management standards, in each case we try to do things a little differently.