Helping clients manage risk better
Risks are becoming more varied and hazardous. The IRMSA Risk Report South Africa Risks 2019 shows just how varied: top overall country risks include structurally high unemployment, growing income disparity and inequality, and the failure of governance in public entities. Top industry risks include not only governance failure in the public sector, but also sub-standard education/skills development and cyber attacks.
The risk landscape is even more complex and interrelated when one takes global geopolitics into account.
"To become resilient in this environment, organisations must understand what risks affect them the most, and how to manage them effectively... that's the first step. Our clients depend on our Advisory team to help them navigate this challenging risk landscape and, in turn, we rely on the Institute of Risk Management South Africa (IRMSA) to help us do that," says Cindy Bodenstein, Marketing Manager at ContinuitySA. "IRMSA is the professional body for risk management, and our corporate membership of the institute is one of the ways we keep abreast of the changing threat landscape as well as the latest thinking about risk management and mitigation, to the huge benefit of our clients."
ContinuitySA's Advisory team advises clients across a full spectrum of risks. They include enterprise risk management framework; strategic, financial and operational risk assessments and registers; risk mitigation plans; and risk quarterly reporting. To ensure continuous improvement in client service in this area, ContinuitySA has again renewed its corporate membership of IRMSA.
"Our clients get the best quality advice because we invest in the ongoing development of our team. When it comes to risk management, ContinuitySA's membership of IRMSA plays a key role in ensuring our clients ultimately receive advice on which they can rely," she says.
Through its corporate membership, ContinuitySA employees gain access to a range of benefits from IRMSA. They include events and communications focused on the latest thinking and trends in risk management, including an annual conference. Clients also benefit from our advisors' access to IRMSA's technical library, its annual South Africa Risk Report and, critically, its Guideline to Risk Management, the primary reference point for organisations in designing, evaluating and implementing good risk management programmes.
"Risk management is critical to our core business focus, helping our clients become more resilient and thus promoting their peace of mind. We are in business to help our clients stay in business, and that means being able to identify accurately the key risks an organisation faces, and how to mitigate them. IRMSA plays an important role in helping us keep current with the latest trends in risk management, and in providing us with the tools to create risk mitigation strategies for our clients," she concludes.