Risk Management Process

//Risk Management Process
Risk Management Process 2017-03-15T13:00:37+00:00

At TCOR Management our goal is three-fold:

  1. To improve our client’s risk profile to make them more attractive to communities, insurers, investors, lenders, and their own clients.
  2. To improve the economic viability of a business and increase the probability of survival in case of catastrophic loss
  3. To control and reduce our clients’ total cost of risk over time.

In order to achieve our three-fold goal, TCOR utilizes a true enterprise-wide risk management process to accomplish the following:

  • Identify the risks inherent to our client’s business;
  • Analyze the probability and impact of that risk on the business;
  • Develop a risk control plan to avoid, prevent, mitigate, transfer, or segregate risk at optimal costs.

Risk control plans are developed in cooperation with our clients’ executive and management teams with input from the following critical business functions:

  • Operations
  • Logistics
  • Information Systems
  • Finance
  • Human Resources
  • Health, Safety, and Environmental

Enterprise-wide input and buy-in across an organization is critical to the success of the implementation of the Risk Control Plan. From the alignment of our client’s corporate objectives, risk appetite, and financial ability to support their risk profile all the way down to its implementation and follow-through, it is critical that the client and TCOR’s team cooperate to manage risk.

Set up a Risk Identification Workshop with one of our Licensed Risk Managers.

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