A Virtual Risk Officer is an experienced risk professional who is available on demand or at pre-agreed times, to help you make more informed strategic and tactical decisions that involve risk and uncertainty.
A Virtual Risk Officer is part of your team and provides strategic and decision making guidance. They gain a sound understanding of your business, environment and strategy and encourage you to take risk, but within the boundaries of your risk capacity, appetite and tolerances.
Our skilled and professional Virtual Risk Officers work across a number of sectors and a diverse portfolio of small to medium sized clients who cannot yet justify a full-time Risk Officer or a formal risk management function, but they value the risk management advice, experience and support they receive.
You have 4 Virtual Risk Officer options to choose from. The level of support is determined by you. It can range from periodic risk mentoring and on-demand advice to a more structured, integrated and proactive Virtual Chief Risk Officer option.
Risk mentoring is delivered on a one-to-one or team basis via scheduled periodic meetings to help fill any risk capability or risk leadership gaps.
It is designed to provide the governing body, CEO and leadership team with a sounding board to discuss important risk matters. Your risk mentor can:
In addition, you have on-call support for business-critical issues that arise in-between scheduled meetings.
Risk Mentor is ideal for new start-ups, when a stakeholder/regulator requires more risk management attention or when there is a major change in business strategy that requires strengthening your risk management capabilities.
Risk mentoring is also available to newly appointed Risk Managers working in a new or challenging environment who needs a little support and guidance from an experienced risk professional.
Although your risk management requirements grow, it may still not be financially feasible to employ a full-time Risk Officer.
Our Virtual Risk Officer (Lite) is designed to provide a more formal and proactive risk management approach to support your needs. Your Virtual Risk Officer can:
Whilst this option is ‘lite’, it is tailored to your requirements, designed to achieve maximum effectiveness at minimum cost, encourage strategic and operational risk thinking and minimise the risk of surprises.
This option is perfect for small to medium sized organisations (small cap listed companies and not-for profits) that have mandated risk management requirements and/or more complex risk management requirements that demand a specialist risk resource.
Our Virtual Chief Risk Officer service is designed to provide risk management leadership and direction to the governing body, CEO and leadership team.
It provides your organisation with a designated Chief Risk Officer, formal position description and a more wholistic risk management function that is appropriate to your needs.
The Virtual Chief Risk Officer can perform the activities of a Risk Mentor and Virtual Risk Officer (Lite), but typically the scope is wider and frequency is higher due to needs and complexity of your organisation. Some of the additional activities may include:
Our involvement is integrated into the business to support management decisions involving material risks.
This option is suitable for smaller APRA regulated entities, medium to large not-for profit and ASX listed companies who want to strengthen risk management to enhance risk governance and achieve their objectives,
Recruiting the right risk professional can take time. Your risks won’t take a break, you need to keep going, you can’t stop progress.
Our Interim Risk Officer provides you with a short to medium term solution to provide you some time to recruit the best possible person you can. The activities will be specific to each client.
Your Interim Risk Officer will be a highly qualified professional and experienced individual. They will quickly gain the confidence of the governing body and management to continue with your risk management program. If required, the Interim Risk Officer can also make enhancements to the risk management framework.
The Interim Risk Officer will also be available to assist in the recruitment and selection of a new Chief Risk Officer and ensure a smooth handover.
We provide you with a dedicated Risk Officer who is an experienced risk professional to support and guide the governing body, leadership team and management when making critical business decisions. Your Virtual Risk Officers will have over 20 years experience in risk management and senior management positions.
Your Risk Officer is ready to start, almost immediately and will hit the ground running after an initial brief. Your Virtual Risk Officer will conduct a Needs Analysis, meet with key executives and draft an Action Plan to get things done.
Virtual does not mean all interactions are web-based. It means flexibility to work how you want us to. We are a Microsoft Certified Partner, we can work remotely from anywhere and use our GuardianERM.Net web based risk management software that allows efficient recording, monitoring, sharing and reporting of risk and incident data.
After an initial brief, you can stay focused on your business. We will concentrate on delivering a proactive and structured risk management program to help you achieve your objectives. You gain from our professional approach, independence and extensive business experience.
In addition to a dedicated Risk Officer who will support your operational and strategic risks, you will have access to a multi-disciplinary team of risk experts covering other specialised areas like cyber security, vendor risk, climate risk, ESG, compliance, project risk, business continuity, emergency management, crisis management, fraud prevention and more.
No recruitment fees and no payroll related on-costs or liabilities.
You choose the level of service you need, and we design a tailored solution to meet your needs. You have access a Risk Officer with premium skills and experience at a significantly lower cost than hiring full-time.
Start with a basic Risk Mentoring program and scale up to a Virtual Chief Risk Officer program at your own pace, when the business needs grow and risk management needs mature to align to your risk taking and strategy.
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