Risk Management Services

Managing risks in silos is costly and inefficient. It leads to duplicative efforts, drains resources, and often slows down progress. Enterprise risk management (ERM) is a more strategic approach to managing risk. By taking a broader view of interrelated risks and mitigation strategies, agencies can focus limited resources on the greatest threats to performance objectives, program goals, and mission success.

Why MorganFranklin?

MorganFranklin provides strategy, planning, and ongoing support to agencies seeking to strengthen their ability to manage and sustain high-performing risk management programs. We bring expertise in all aspects of IT, operations, and regulatory and financial risk management. By partnering with agency risk management professionals, we facilitate cross-functional and enterprise-wide risk awareness, conduct risk assessments, and provide ongoing support to help manage risk in a strategic manner. We also combine expertise in process improvement, IT security, change management, and project management to offer complete risk management solutions. Our approach to federal ERM focuses on the following:

  1. Build executive consensus around enterprise risk profile
  2. Develop realistic risk mitigation plans that embed risk management into operations
  3. Leverage technology for continuous controls monitoring and reporting
  4. Apply commercial sector lessons learned and best practices
  5. Demonstrate alignment of risk management efforts with mission and program objectives
  6. Build support by communicating the benefits of risk management across the organization

Capabilities

  • Enterprise risk management (ERM)
  • Operational risk management (ORM)
  • Governance, risk, and compliance (GRC)
  • Privacy, ethics, and compliance
  • Risk reduction through process improvement
  • Risk assessments, including risk scoring/ranking and heat maps
  • Risk management policies and procedures, including key roles and responsibilities
  • Risk profiles and articulation of risk appetite
  • Risk inventories with associated likelihood and impact assessments
  • Risk mitigation strategies and action plans
  • Assessment of existing IT capabilities and gaps to identify system improvements
  • Maintenance of reliable, complete, and timely data for strategic and operational decision making and reporting

Impact & Value

    • Reduce the cost of compliance
    • Align risk appetite and risk exposure with strategy and mission
    • Limit the impact of unexpected outcomes
    • Make risk-based and unified management decisions
    • Enhance governance and promote accountability
    • Optimize allocation of resources
    • Strengthen performance and reduce variability
    • Protect the value of assets
    • Increase likelihood of achieving key goals and objectives

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