nav-submenu-arrow

What is Enterprise Risk Consulting?

Enterprise Risk Consulting: An integrated approach to Risk Management

Enterprise Risk ConsultingA piece of a circle is just a line leading nowhere.

Only by looking at all of the sections together is the true nature of the circle revealed.

Your business is more than the sum of its parts, and your risk management program must be designed with that principle in mind. It must be comprehensive, complete and unique. It must be whole.

The problem with addressing your business risks as individual pieces is that too many businesses end up with a collection of unrelated policies loosely cobbled together, rather than a truly integrated risk management solution.

At Power Group, our role is to use our Enterprise Risk Consulting (ERC) process to understand how each area of risk—Your Business, Your People, and Your Money—affects the whole of your business. We believe that everyone involved in your risk management program, your team members and ours, must understand the objectives of all the other team members. Working closely together, sharing that knowledge, we bring you a risk management program that is greater than the sum of its policies, and as unique as your business.

Your Business

Power Group defines business risk management as mitigating your exposure to hazards affecting your property and your operations. These include:

  • Fire, wind & other natural perils
  • Liability Claims
  • Business Interruption
  • Operations and Program Management
  • Executive Liability

Your People

Human capital risk management encompasses all the risks associated with having employees, including:

  • Employee Benefits, including health insurance
  • Human Resource Compliance
  • Worker’s Compensation
  • Employment Practices Liability

Your Money

Financial risk management is the process of ensuring your organization’s business model is sustainable through a perfect storm of uncontrollable factors. Our system of income and asset protection includes:

  • 401(k)
  • Wealth Management
  • Business Interruption
  • Portfolio Design
  • Owners & Executives Plans
  • Estate Management

All Risk is NOT Created Equal

Power Group will work to discover what combination of risk transfer, contingency planning and natural risk hedging is best for your organization. Our goal is to instill Enterprise Risk Consulting into your organization’s culture. Once management is committed and ERC is influencing the organization’s decision making process, it becomes possible to understand what impact additional risk will have on the organization.

Properly addressed, additional risk can actually decrease enterprise risk. Risk is not completely avoidable, but informed risk taking can increase your competitive advantage in the marketplace.

Testimonials

Power Group has always made it a point to do the leg work for me, for every aspect of our plan. The service I get from Kurt and his team is the reason we’re so pleased with our plan. They’re wonderful!

Janice Cherner, Village Pediatrics

MORE TESTIMONIALS »