Riasc Consulting

Better Risk Management

Effective risk management empowers you to excel at achieving your objectives, at providing better outcomes for your clients, at optimising your resources, at creating a great workplace, at achieving compliance and at building trust with key stakeholders. With decades of risk management experience, Riasc Consulting is here to help.

Good Risk Management

Better
Client
Experiences

Improved
Service
Reliability

Efficient
Use Of
Resources

Better
Workplace
For All

Increased 
Stakeholder
Trust

= Good Business Management

Risk Management Services

Riasc Consulting provides independent risk advisory, mentoring, and consultancy services for companies of all sizes. We help companies and non-profits to deploy best practice risk management. Our methodologies are transferable and scalable and can be adapted to the strategy, complexity and maturity of organisations in all sectors. Enquire now!

Enterprise Risk Management

  • Risk Reviews: Governance, Strategy, Compliance, Resilience & Transformational Change
  • Gap Analysis to Regulatory Expectations and Best Practice
  • Risk Management Improvement Plan
  • Risk Appetite & Strategy Development
  • Risk & Governance Frameworks & Policy
  • Tools for Implementing Effective Risk Assessment
  • Design of Board & Senior Executive Risk Reporting
  • Enterprise Assessments: Stress Testing, Reverse Stress Testing & Scenario Simulation

Credit Risk Advisory

  • Credit Policy
  • Credit Decision Automation
  • Credit & Capital Models
  • Risk Based Pricing
  • Credit Analytics & Reporting
  • Collections & Recovery/Workout Strategy
  • Portfolio Management & Due Diligence

Better Risk Managment
=
Better Outcomes

Specialist Risk Advisory

  • Data Risk (incl GDPR)
  • Model Risk (incl A.I.)
  • ESG Risk (incl future proofing)
  • People Risk (incl Resource Requirements, Incentives & Accountability)

Risk Mentoring & Consulting

Providing support, coaching and guidance to executives on managing risk and embedding a risk culture that accelerates achievement of strategic business objectives.

Interim cover

Providing interim cover for CRO role or other senior risk management role.

Better Risk Managment
=
Better Outcomes

Tom Fee - Risk Consultant

About Us

Tom Fee is the founder and lead consultant of Riasc Consulting. He has broad and deep experience in Senior Leadership and Board Advisory roles with publicly quoted companies such as Bank of Ireland, General Electric, and Royal Bank of Scotland. His proven track record of using risk management to unlock business strategy and achieve objectives makes him the ideal consultant to help you achieve your goals.

Experience

 

Tom created the Enterprise Risk Management function in Bank of Ireland Group (BOIG) in 2017 where he revamped the risk and governance frameworks and established separate risk disciplines in Data risk, People Risk and ESG in addition to consolidating Risk Assurance teams and Model risk teams to address digitalization and the changing profile of banking risks.

Prior to that, he was Director of Credit Risk for Retail banking with BOIG and at Ulster Bank Group (UBG). He was Vice President and Leader of Risk Management for GE Money Europe, providing risk leadership across 28 businesses in 25 countries. Tom was also a Non Executive Director with The Irish Credit Bureau and a Pension Trustee at Bank of Ireland Group.

He brings considerable experience in developing and deploying strategic plans, transformational change, due diligence for M&A, analytics and solutions.

Recent consultancy projects have included a particular focus on improving risk management in the ‘Not-For-Profit’ sector.

3 reasons why sensible organisations struggle with embracing good risk management

1. Executives are too busy to change practices.

Executives are often too busy ‘firefighting’ to make time to adopt sensible change or to even work out what they need to do to improve matters. Ironically they are often too busy as a result of errors, issues and re-work which may have been avoided through better risk management. An incremental approach to improving risk management can create the time and management bandwidth to get better at it.

2. Good risk management and its benefits are not properly understood.

The purpose of applying risk management is to increase the reliability of achieving desired outcomes. You must start by being clear about what are your specific objectives; the deliverables you want to achieve and the necessary timescale. Then you work out what additionally you need to do in order to be confident that you will achieve that outcome.

Is greater reliability worth the additional effort and whatever you may have to change to make it happen? What are the alternatives? What are the consequences of a less reliable outcome? Have you thought of all of the consequences? Having a reputation for being reliable is worth a lot!

This is risk management.

3. The elements of good risk management are in place but ‘not joined up’.

Some organisations invest in comprehensive frameworks and policies and systems to help make risk management work and yet still find that they are not ‘in control’ to the extent they expected. If these supports for risk management have been developed over time, possibly with different consultants engaged by different executives, or if the organisation works in siloes, there is a strong chance that the way risk management tools are supposed to work together was never properly defined.

So compliance and risk management may just feel like a series of necessary processes; an overhead rather than something that produces benefits and can help to unify the organisation. It may be difficult to generate meaningful insight.

A simple common language describing your risks, used across the organisation, is a good starting point to creating the links between your risks, your risk incidents and the effectiveness of your risk management. ‘Joining up the dots’ is the difference between having risk management in place and actually managing your risk.

Risk Consultancy - Riasc Consulting

Our Philosophy

Good risk management leads to better client experiences. It makes a company more reliable and increases the confidence of key stakeholders including partners, shareholders and regulators. It also makes a company a better and safer place to work.

Good risk management is good business management.

Risk Consultancy Riasc Consulting

Have a question?

HIDDEN
What do you mean by Risk Management?

Risk Management is essentially a mindset (culture) we apply to improve the likelihood of achieving our objectives, big or small.

We are all the chief risk officer in our own lives so we are used to doing risk management every day. That can be as simple as checking the smoke alarm or ensuring the children don’t open the door to strangers. However, when we attempt to practice risk management as a group, at work, we need to agree a few things up front such as – what are our risks; what is our collective tolerance for different types of risk; how do we monitor, communicate and act when risk is increasing and how should we react when risk events (bad things) actually happen.

That means supporting the Risk Management mindset with a simple shared framework covering governance, policies and necessary tools. This does not need to be complicated. The level of structure required should be consistent with the size and complexity of your organisation, the nature and scale of the risks you face and the amount of resource that you can afford to invest in protecting your desired outcomes.

Every organisation can and must apply a risk management mindset in order to be sustainable.

What sectors do you work with?

Risk management methodologies are broadly transferable and can be applied in companies of all sizes and in all sectors through adapting the methodologies to the strategy, complexity and maturity of the organisation. We work with large enterprises, SMEs and non-profits, so get in touch today and see if we’re a fit.

Do you have experience at C-Suite level?

Tom Fee, the lead consultant at Riasc Consulting, has a proven track record of successfully deploying risk management solutions at the most senior levels in large companies, advising boards and mentoring emerging leaders. He has extensive experience of chairing executive risk committees and being a permanent attendee at Board committees as well as being a non executive director.

Do you only work with established companies?

Every company needs to manage their risks the right way, large or small, established or new. We can help you find what is the right way for your organisation to build or improve your risk management approach.

Do you offer ongoing consulting services?

We provide ongoing risk consulting services in a range of capacities. Improving risk management can take time for organisations where there a need to establish a good ‘risk culture’. That can mean implementing an improvement plan in stages where we will provide periodic support to validate progress and initiate the next phase. We also provide support, coaching and guidance to executives and board members new to risk management oversight responsibilities. Where appropriate, we provide interim cover for CRO or other senior risk management roles.

Enquire Now

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