How Huggins Can Add Value to Company Enterprise Risk Management Program?
Business means taking risk. Every company faces the all the risks of its market segment, as well as its own specific risks. Every company must manage the various risks it faces in order to maximize profits and to have any chance of future success. The difficulty for a business is the specifics of how to manage risk. This question has challenged even the best run companies throughout history.
What is Enterprise Risk Management (ERM)?
ERM is an emerging discipline that strives to assist companies in understanding the multitude of risks inherent in doing business. ERM uses a comprehensive and rigorous approach to identify, measure, and determine optimal controls for various risks, whether financial, credit related, or operational.
In the U. S., Sarbanes-Oxley legislation and subsequent implementation focused attention on the corporate internal processes and controls portion of ERM. This emphasis on ERM is poised to become even more important as the world economy struggles to recover from the recent economic downturn and companies explore every avenue to improve earnings.
How Can Huggins Add Value to Company Enterprise Risk Management Programs?
Huggins has positioned itself to offer ERM solutions for a wide variety of companies. Huggins staff members have, or are pursuing, the credential of Chartered Enterprise Risk Analyst (CERA) that is recognized worldwide as the epitome of risk management expertise. Casualty-property actuaries, such as those dedicated professionals at Huggins, are uniquely positioned with both the technical analytical skills and the breadth of exposure to various business risks to assist in designing and implementing ERM.
Huggins also offers more advanced Enterprise Risk Management services as part of its Economic Capital Modeling program.