Risk management

The heightened awareness of macro risks is clearly having an impact in the boardroom. Risk management is increasingly high on the agenda for boards and senior management, and incorporated in formal strategic planning processes, according to CEOs. The fact that strategy and risk must be considered in concert has always been present in successful companies, but has been given a further boost by the crisis. Senior level attention to this could strengthen the linkage between operational and strategic approaches to risk, and mitigate the impact of another crisis.

14th Annual Global CEO Survey 2011

Your challenges

Users of annual accounts are getting more particular about transparent reporting on risk management, governance and corporate responsibility matters, especially qualitative aspects with a bearing on businesses’ financial situations.

Belgium’s 2009 Code for listed companies and comparable legislation for financial institutions increase risk-related responsibility.

How PwC can help you

We make it easy for you to get the help you need in order to be compliant and transparent in addressing the challenges of GRC. Through two single points of contact you have access to our team of ‘hands-on’ specialists with practical experience in risk assurance. 

Enterprise-wide Risk Management (EWRM)

We can help all types of companies to:

• determine their risk appetite
• manage risk in the areas of strategy, operations, reporting and compliance
• design and implement risk management policies that help achieve their objectives

We can assist boards of directors and other governance bodies in assuming risk-related responsibility in accordance with Belgium’s 2009 Corporate Governance Code.

We also cover the assessment of strategic and other types of risks, as well as implementation of sound risk management practices, (re)design of risk management organisational structures and procedures, and integrated risk reporting, including KPIs and dashboards or cockpits.

Valuation

We can model solutions to quantitative issues such as:

• the valuation of structured credits (CDS, CDO, ABS)
• equity-based interest rates
• foreign exchange rates
• commodity-linked financial instruments.

We measure market risk, credit risk and operating risk.

Regulatory assurance

Our regulatory assurance specialists can help you with:

• diagnosis of pre-Basel III and Solvency II projects and their implementation
• technical support regarding implementation, including internal model validation (COREP, ICAAP and ORSA)
• development and delivery of training programmes
• capital waivers for insurance companies

We can assist with the interpretation, quantitive simulation, benchmarking and implementation of new regulatory circulars (e.g. stress testing, market risk, credit risk, ALM risk, liquidity risk and counterparty risk).

Our credentials

Implementation

We recently assisted a large insurance company in implementing an enterprise dashboard across all business lines.

Cockpit set-up

We assisted an organisation in setting up a cockpit room (including help with screen-based technology, the decision-making process, prototypes and sourcing).

Healthcare