In wealth planning and investment management, risk management is a term that is used very frequently.
Risk management is the process of identifying, assessing, and controlling threats to an organization’s capital and earnings.
These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents, and natural disasters.
In today’s world, almost every human activity is recorded and stored online and smart devices, web applications, IoT, etc. are generating data faster than ever before in human history.
However, cybersecurity infrastructure has not kept pace with the innovation and data explosion, potentially leaving organizations to cyber threats.
All digitized companies are at risk of the above-mentioned threats as well as the risk of the theft of intellectual property, corporate data, and clients’ personally identifiable information.
Also, the fast-changing political landscape around the world, changes in legal frameworks concerning cybersecurity and online laws as well unforeseen natural disasters are posing a constant threat to the financial stability of organizations.
This is where our risk management services come into use.
Risk management prepares companies for the unexpected by minimizing risks and extra costs before they happen, hence protecting their future.
The risk management team at CWPIM has considerable experience in analyzing vast amounts of data to build a complete picture of possible risks. This helps us provide customizable metrics, detailed analyses, and deep insights to our clients.
Risk management at CWPIM involves multiple steps, all of which are geared towards keeping our clients protected from legal and financial liabilities. From studying any and all risks present in a particular industry and their importance to the consideration of the probability of a certain risk manifesting, to the recovery of any loss arising from these risks, we take a 360-degree approach to risk management.
Our risk managers constantly ask “what-if” questions and are in regular contact with the line and portfolio managers who are innovating, generating new ideas, and yes, taking risks. Our team constructively challenges the client, presenting different scenarios for every risk taken, and each new idea adopted.
Our risk management team identifies, assesses, and mitigates risks to clients, and actively communicates with concerned departments within the client organization to formulate policies and put proper controls in place to mitigate these risks.
External risks, which are largely beyond a company’s control are identified, their impact is assessed, and strategies are evolved to best mitigate the effects of these risks should they come to pass.
We also help our clients document their risk management plans in their policies and procedures, so the client’s risk culture is clearly communicated throughout the organization.
As a company that has our client’s requirements and well-being at the core of our operations, we are fully aware of all government as well as industry standards as defined by NIST and ISO and other actuarial organizations.
Regardless of a company’s size or sector, CWPIM offers risk management that plans for any eventuality and keeps the company’s best interests at the heart of all its services in this field.