Risk Maturity Measurement

Risk Maturity is an essential piece of the GRC process in any business.  By doing Risk Maturity evaluations on a regular basis, an organization can:

• Ensure management accountability
  
  
• Generate a prioritized risk management plan focused on key organization principles and issues
  
  
• Provides a tangible basis assurance of the risk management framework
  
  
• Clearly demonstrates the progress in improving risk management, governance and compliance
  
  
• Creates a benchmark to measure management as well as the organization (against targets and industry)
  
  
• Can be linked to incentive schemes such as management KPI's and insurance premium allocation
  
  
• Rating agencies such as S&P and Moody's intend to incorporate organization risk maturity as part of their ratings.

Cura has, together with a leading specialist and thought leader in Risk Management, created a Risk Maturity Evaluation protocol that can be used with Cura Enterprise and Cura Surveys.  The solution, including the best practice and the software can be purchased and implemented on site by customers or contracted as a service (ie Hosted, Software as a Service).

The maturity model allows one to define set Principles that characterize the attributes of risk management that the organization aspires to.  The level of maturity for any Entity being evaluated is based on the score for each Principle.  In many cases, these Principles may be aligned or the same as key objectives and strategies of the organization or division.

Example of a Risk Maturity Evaluation showing Improvement

The maturity evaluation allows for a number of requirements per principle and guidance on their evaluation and assessment.  It measures, based on management surveys, the level of intent and practice associated with each requirement and Principle and calculates the resulting scores.

To find out more about Cura's Risk Maturity Evaluation engagements and solutions, contact Cura.