Willis

Background:

Head of Risk Management in 7 billion multinational engineering group.

Over 500 locations in forty countries. Business Units had worked for many years with an insurance and audit approach to risk management.

Needs:

• To cost-effectively monitor the performance of key risk management issues for operations world-wide and maintain appropriate due diligence.
• To benchmark performance.
• To support a move to substantial self-insurance.
• To support the Corporate Risk Management Department by developing a programme promoting ownership of risk in Business Units.

Solutions We Provided:

• Devised an Internet-based self-assessment process with separate modules, initially for Safety, Environment, Property Protection and Product Safety. These modules encapsulate company standards and minimum requirements for legislative compliance.
• For sites with no Internet or inconvenient computer access, hardcopy or diskette versions of the self-assessment questionnaires are available.
• To ensure the integrity of responses and to assist with due diligence, the self-assessment process is validated by independent sample audits.
• Programme design including questionnaires and supporting best practice guidance.
• Design an innovative technology for data collection and communication.

Results:

• The IT system provides reports to the various stakeholders - from Business Unit Managers to Product Chief Executives
• Supports the group policy of continuous improvement.
• Every location has access to current standards and guidelines. Performance by group, division and location can be viewed on-line or summaries downloaded whenever required.
• The Board and Executive Management have greater confidence in their due diligence efforts.
• Cost saving over conventional risk audit systems is in the order of 300,000 per annum.