The client is a Joint Sector Company manufacturing clinker and cement in Bhutan. The company has a 50-year-history and well-established brand name for its quality. MaGC was engaged by the client for designing an appropriate and dynamic Enterprise Risk management (ERM) framework.
The approach was to design an ERM framework that could be integrated in the routine of the organization for effective risk management. The methodology included structured interviews, sample walk-throughs, review of documents and reports, financial analysis, and brainstorming with key stakeholders.
The ERM framework helped the client embed risk aware culture in day-to-day decision making, standardize risk assessment across the enterprise, facilitate identification and focus on top risks, and act as an objective mechanism to provide assurance to the Board.