Responsible Risk Management® solutions

SOLUTIONS

We provide Responsible Risk Management® and best-in class solutions. Our clients receive 50% additional data coverage enabling them to manage risk across the organization in an effective and cost-efficient manner.

Our attention is on our clients needs and the sensitive issues they need to address for the financial health and well-being of the organization.Star-Ting Incorporated provides an effective range of Responsible Risk Management® programs:

  • Internal and external risk assessments uncovering emerging risks from acquisitions or disruptive technology; environmental, health and safety process risk; political or social risk to develop risk treatment plans;
  • Control Risk Self-Assessment (CRSA) for stronger investment decisions;
  • Provide risk assurance to advise an organization of its risk management performance level or to review risk management plans because risks may change based on environmental factors, economic conditions, the organization’s operations or on legal and regulatory requirements;
  • Provide stakeholders with reliable risk data and reports; thus, leading to increased confidence in management and operational performance; and
  • Recommendations to mitigate risk for projects and investment purposes, save money across all business units and gain a triple-bottom line advantage.

RESPONSIBLE RISK MANAGEMENT®

  • Commitment to reduce the disruptive effects of hazard risk.
  • Prepare action plans for the potential of a major interruption or systemic risk.
  • Coverage exposes both diversifiable and non-diversifiable risk.
  • Create a picture of an organization’s risk portfolio and profile for stronger decisions and improved outcomes.
  • Improve allocation of resources and control operational activities.
  • Reduce waste to the economy and decrease loss thereby increasing regulatory compliance.
  • Provide risk mitigation plans with recommendations to reduce the possibility of accidental loss and avoid penalties from noncompliance.

RESPONSIBLE ROI® DECISION ANALYTICS (DA)

The purpose of a risk assessment is to reduce loss and mitigate risk but if data is missing or underutilized then the results will be inaccurate. A complete data set includes quantitative, numerical and qualitative factors. Traditional analytics are unable to measure all three data sets by count. Current Enterprise Risk Management (ERM) systems fail to quantify the qualitative risk factors. By under-utilizing the data, decisions are effected. Under-utilization affects process systems, engineering design and operational efficiencies.

  • Deeper analytics and pertinent risk information on business functions and critical controls to identify and prioritize top threats and barriers.
  • Reduce potential harm to human and mechanical resources for regulatory compliance.
  • Alleviate managements’ fears about potential losses and make the organization a safer investment.

We, at Star-Ting Incorporated offer a unique and innovative solution, where we quantify the qualitative risk factors resulting in a previously underutilized qualitative data set that now can be counted, measured and compared for improved Decision Analytics (DA). By adding another data set into the mix, we increase our client’s risk coverage by 50%.

COMPETENCIES

Get a Responsible Risk Management® solution that will:

  • Identify macroeconomic trends and industry themes to proactively minimize risk on-shore;
  • Identify bottle necks, replacement costs and credit risk to reduce project failure or to enhance asset management and operations;
  • Assess factors like reputation and crisis management or build a social license to operate program;
  • Integrate longer term strategic direction to align governance to challenges for sustainable development; and
  • Reduce environmental and social risks that impact your organization’s reputation.

Specific application areas include: asset management, business continuity, climate change, environmental management, equipment, mechanical and human failures, hazards risk of oil and gas pipelines, HSSE (Health, Safety Security and the Environment), information data and security, infrastructure, occupational health and safety, oil and natural gas extraction projects, operability, manufacturing, pipelines, productivity, resource allocation, site related risks and timeliness.

CONTACT US

We look forward to serving your risk management needs.

 

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