SAM risk management system design

The SAM risk management programs we help design adopt a fresh approach to managing SAM risk.  There are a number of reasons to refresh the approach but the most important is that SAM risk has changed and grown considerably over the last 10 years and risk management programs need to be more dynamic than they have traditionally been. 

The programs we design ensure SAM risk controls accommodate the current state of SAM risk. More importantly, they also ensure SAM risk managers can easily and quickly adapt their practices in the future as SAM risk, SAM risk management best practices, and their organizations continue to change.

We try to ensure that, as far as possible, the programs we design are based on existing practices, but we format those practices into a 3-stage process. 

The 3 stages are:

  1. An over-arching process is designed to enable an organization to identify, understand, and appropriately address all the risks that can impact the achievement of its most important objectives and to integrate them into a coherent overall risk management strategy.
  2. An underlying process is designed to capture the changing nature of the SAM risk environment and its impact on the organization, so ensuring the organization adapts the management of one of its most important risks in a way that is appropriate for both the risk and the organization’s overall risk management strategy.
  3. The implementation and monitoring of specific SAM risk controls that are determined to be the most appropriate at any given time, based on the constant SAM risk assessment being provided by Stage 2.

All 3 stages of the process are important because it is their combination that ensures customization, appropriate adaptation, and effective monitoring. These three are also required to deliver the constant SAM risk management improvement that is necessary for any risk that changes as much and as often as SAM risk.