NS Global Consulting is a risk governance and management consultancy based in the UK that analyses key drivers, operational processes and inherent risks to provide high performance corporate governance structures aligned to the company’s vision. Corporate risk management refers to all the methods that a company uses to minimize financial losses. Various segments of a business through their managers perform different activities to reduce the losses that could be incurred by the business. Assurance is required in corporate risk management to ensure that the board and managers do not engage in fraudulent and ethical practices in the name of protecting the company from failure as a result of the risks it faces.
The corporate risk management practices differ from company, in the same manner that the risk profile and exposure of different companies differ. This implies that the corporate risk management strategies employed by different companies are not likely to be similar. Corporate risk management strategy encompasses all the methodologies, activities and policies employed by a company to manage its risks.
Enterprise risk management (ERM) is a business strategy that identifies and prepares for potential hazards facing a business that may interfere with the business’ ability to meet its objectives. NS Global consulting being a company that carries out ERM must has the ability to apply methodologies aligned to the business vision and objectives in a robust (timely, accurate and complete) manner. This will ensure there is no corporate failure and economic losses. Companies typically manage their enterprise risk through taking up insurance policies for some risks and in some cases having alternate suppliers for products; other methods of managing these risks could be creating new positions or departments within the company to solely deal with potential risks. Dealing with these risks involves looking at the opportunities that may arise from them as well the potential threats they pose to the business. Individuals can also benefit from analyzing the enterprise risk management of companies and using it to determine which companies to invest in.
Global risk governance refers to practices employed by different sectors to manage external (environmental) risks outside the influence or control of a country’s government. Global risk governance is carried out by different stakeholders, including governments themselves, non-governmental organizations and multinational companies. Global risk governance is also cover with Global organizations.
Corporate risk management and global risk governance are important in ensuring the survival of economies across the world and are currently placed at the forefront of many economic discussions. It is important that new patterns and threats are determined in order to prevent business collapse and economic recessions in the future and NS Global consulting is a firm whose outlook is to prevent these incidents.