Risk Management allows organizations to improve the quality of project management practices and governance from the decision to invest to final delivery of project outcomes. Risk management promotes dialog between all stakeholders and sponsors and supports realistic approaches, plans, and project estimates. When implementing or improving Risk Management, you need to consider the organization’s/project’s risk management maturity, processes, methodologies, organization, culture, technologies and oversight structures.

Whether you are interested in implementing some of the elements of Risk Management to augment your existing capabilities, or are attempting to implement Risk Management for the first time, we can help. Our consultants have helped clients implement Risk Management, risk oversight frameworks, improve risk management planning and control techniques, and select and implement risk management tool.

How Crevaty added value to business entities from engagement of Risk Management Services in Kuwait

  1. Safeguard and maximize enterprise value.
  2. Ensure that the business entity complies with risk management requirements set forth in instructions and resolutions issued by the relevant regulators.
  3. Reduce impact of various types of risks through effective risk management framework that shall identify, measure, analyze, and use effective techniques to address or mitigate such risks.
  4. Enhance entity’s performance efficiency and ensure integrity of its financial statements and effective internal controls in place.
  5. Improve credit rating.
  6. Ensure that the business entity is able to continue to provide products and services at reasonable levels if they are exposed to incidents that may cause disruption thereof, and accordingly, achieve the competitive edge.
  7. Improve the business’ operations and increase awareness of critical operational aspects.
  8. Cost savings and avoidance of financial losses.
  9. Protect interests of stakeholders, business reputation and the brand.

Risk Management Services provided by Crevaty Kuwait

Crevaty Kuwait provides consulting services to companies licensed by Capital Markets Authority, listed and other companies in connection with risk management as follows:

  1. Biannual Risk Management Reports with respect to the risks encountering the licensed person, which will be submitted to the Board of Directors and Capital Markets Authority.
  2. Periodic reports on the nature of risks to which a company is exposed, which will be submitted to the Risk Committee and the Board of Directors.
  3. Assist with setting up independent risk management function, i.e. department, office or unit within the company.
  4. Assist with developing risk management system including key aspects, which enable identifying and classifying all risks to which the company is exposed, methods of sound management of such risks and ongoing control techniques. Such systems shall cover in particular credit risk, market risk, liquidity risk, operating risk and any other risks that may face the Company.
  5. Develop Risk Committee Charter;
  6. Develop policies, procedures and forms that define and classify all risks to which the company may be exposed, the methods adopted to measure such risks, sound risk management methodologies and ongoing control techniques.

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