At Titan Grey, our risk management practice is the bedrock of our organization. Leveraging over a decade of experience in the field, we deliver effective solutions that are specifically tailored to our clients’ needs and capabilities.
Of perhaps equal importance is that, owing to our lean operational structure, we’re typically able to perform an engagement at a fraction of the cost of our larger competitors.
Our flagship risk management engagement follows a process we call “The 8 Blocks of Risk Management.” As more fully detailed below, the 8-Block process allows us to dive deep into specific issues while maintaining clarity of purpose for the overall engagement. Likewise, we’ve found the formalized process to be the best way in which to ensure that our clients come away with a foundational understanding of risk management, as well as an ability to further iterate and develop their organization’s risk management program on their own.
If you’re new to risk management, don’t worry—once upon a time, we all were. However, in order to best understand our explanation of The 8 Blocks of Risk Management, we’d advise having a look at our brief introduction to business risk management, or as we like to call it, “Risk Management 101.”
Titan Grey's 8 Blocks Of Risk Management
1. Enterprise Risk Assessment
Enterprise risk assessments require broad business experience and exceptional critical thinking skills in order to create truly comprehensive solutions.
At Titan Grey, our professional risk management experience spans decades and industries. From construction management to financial services, global manufacturing to media & telecom, we’ve been on the front lines of a wide variety of businesses.
In our approach, no two businesses face the same set of risks. We devote significant efforts to learning exactly what makes our clients’ businesses tick, applying this information to our work in scoping and scoring our clients’ exposure to risk..
2. Internal Capability Assessment
Right-sized risk management is the only effective form of risk management.
At Titan Grey, we work hand-in-hand with our clients’ management teams in order to rapidly gain deep understandings of the resource and human capital availability within their respective organizations.
Having a keen understanding of what will or will not work for a client is a crucial first step in developing an actionable risk management program tailored to that client’s unique set of needs and constraints.
Our internal capability assessments frequently identify to business managers opportunities for talent acquisitions in areas of core competency which the business may not have known it lacked. In this way, our work transcends the tactics and strategy of risk management, being able to effectuate positive change in enterprise-wide resource acquisition as well.
3. Risk Control Assessment
Proper assessment of risk controls requires deep knowledge of control development, as well as up-to-date perspectives on industry benchmarks. At Titan Grey, we pair these two core competencies to provide business leaders with accurate and actionable views into the control-state of their organizations, and where they stand with respect to their peers.
Our approach is focused on our clients’ people, processes, documents and technology, allowing us to quickly and effectively identify for our clients both their pre-existing control synergies, as well as opportunities for new value capture.
The deployment of our key frameworks on our client engagements helps to ensure consistency, accountability and comprehensiveness in the analysis and work product we deliver.
4. Target State Development
As with risk controls, target control states cannot simply be plucked off of a shelf and inserted into a business organization. At Titan Grey, much of our work focuses on comparing state-of-the-art risk management tools and techniques with each unique industry, culture and resource scenario presented by our clients.
The most crucial part of our work is not figuring out “what is best,” but rather, what is best for our clients. And at Titan Grey, we endeavor to make each client feel like our only client. We aim to offer an unparalleled level of client-organizational familiarity and trust, in order for our prescribed target states to be equally ambitious as attainable by our clients.
5. Risk Control Gap Analysis
Sound prioritization is foundational for effective risk management. At Titan Grey, our risk control gap analysis goes beyond identifying areas needing improvement, and offers clients a clear picture of the order in which they and we should go about making such improvements. Leveraging the work product generated in our enterprise risk assessment and risk control assessment, we deliver clear visual representations of our clients’ biggest risk factors for which controls are weakest, and proceeding further in a hybrid order combining risk criticality and strength of existing controls.
Our analysis, reflecting both the art and science of business risk management, enables us to provide our clients with clear, actionable paths forward, towards a more stable business future.
6. Risk Control Development
Customization and tailoring are central to our client work, and in no area are they more present than in our development of risk controls.
At Titan Grey, we recognize that the only effective risk controls are those which our clients are able to comfortably and consistently deploy within their organizations. Our approach, therefore, is to design risk controls that, for our clients, feel like second nature. We focus on our clients’ unique cultures, practices and capabilities in developing controls which nevertheless reflect industry-leading standards.
Meeting the challenge of ensuring both quality and actionability of risk controls is a reason behind the very foundation of Titan Grey. Simply put, it’s what we exist to do.
7. Risk Management Program Development
Proactive risk management is the only risk management. And from military operations centers to corporate boardrooms, action without situational awareness is rarely, if ever, advisable.
At Titan Grey, we provide business leaders with vital visibility into their organizations’ exposure to risk. From dedicated Chief Risk Officers and their teams, to startup CEOs and COOs wearing multiple company hats, we create risk management dashboards for a variety of use cases.
In creating work product intended to live vibrantly within our clients’ organizations, our process is informed not only by the fundamentals of risk management, but also by principles of user experience and user interface (“UX/UI”) design.
Our interdisciplinary approach enables us to create tools our clients look forward to using, thus maximizing their efforts at effective risk management.
8. Risk Management Training
At Titan Grey, we’re people-persons.
The most rewarding aspect of our work with clients is offering their people engaging and interactive training in risk management. Our trainings begin with the fundamentals, but focus specifically on how each person, in each role, can contribute to the overall safety and stability of the organization as a whole. While there may be some team members whose sole focus is on risk management, in any business, every team member should be a manager of risk.
Those requiring the most in-depth training, of course, are those tasked with risk management as a primary responsibility. From dashboard-based monitoring to controls analysis and augmentation, it is our goal, on every engagement, to leave a great deal of our professional skills behind at our clients’ organizations, within the minds and skill sets of their key personnel.