Risk Management

In a continuously changing economic landscape, businesses face an increasing number of uncertainties. Major potential sources of risks jeopardizing businesses' ability to achieve corporate objectives are material loss and lost opportunities. Therefore, it is a top priority to identify the key risks and manage those risks on an on-going basis.

Altavis supports businesses of different sizes and sectors in identifying and managing risks to ensure that, in addition to the fulfillment of legal requirements, sustainable value is also added by the effective, efficient handling of risks. We perceive the establishment of a dynamic risk management system that meets the economic requirements of your business and ensures future success as our challenge. Our approach is based, for example, on the internationally recognized enterprise risk management (ERM) framework of the Committee of Sponsoring Organization of the Treadway Commission (COSO II).

We will design an enterprise-wide risk management system together with you that integrates with existing business processes and management systems. Such a risk management system serves as a central monitoring tool and is the basis for strategic and operative corporate management and leads to increased efficiency of the internal auditing function.

Our approach includes the following elements:

  • Risk culture and internal environment
  • Objective setting and event identification
  • Risk assessment and risk response
  • Information and communication
  • Risk reporting
  • Control activities and monitoring

For an ERM system to be truly successful, organizations must embed their risk culture throughout all levels of the business. Senior management and staff must all understand and internalize an organization’s specific risk management approach. As risk management responsibility is spread across the entire organization, it is essential to success that all staff members involved are fully trained and coached.

Our risk management & related services include:

  • Conception, design and implementation of risk management systems in accordance with national and international standards (e.g. KonTraG, BilMoG, COSO and ISO)
  • Co-sourcing/partnering with the present risk management function
  • Integration of risk management, internal audit and internal control systems
  • Quick check, review and evaluation of risk management systems and functions
  • Business risk assessment and control self-assessment (CSA)
  • Compliance and corporate governance consulting
  • Training and coaching of staff at all corporate levels