Do you have formal system and controls in place to minimise risks?
Have you identified all significant risks to your portfolio?
Are you routinely assessing levels of risk?
If you answered ‘NO’ to any of the above then MCP can help. Over a number of years, a global bank had developed an approach to Real Estate risk management that covered most aspects of the discipline. However, the approach had been built in a piecemeal manner and the tools and processes, procedures and training materials were disjointed, (at best unclear and at worst conflicting), leaving most of those involved confused and unable to deliver consistent results.
Following an external review and having accepted the review’s results, the bank decided to commission a project to re-build its Real Estate risk management approach as a leaner and more cohesive system.
MCPs approach to the project stripped down the existing risk management operation and re-built it using standard models for processes and operating procedures. Roles and responsibilities were clarified and significant effort was put into ensuring the database of significant risks and risk appetites was comprehensive.
The new system along with its re-designed tools was trialled and feedback incorporated. Supported with improved training materials the final system was rolled out worldwide.
1. Through our structured auditing processes, we determine how your management of risk compares to best practice.
2. We work closely with you, sharing our experience and expertise, lean processes and procedures and automated tools to enhance your approach to risk management.
3. We help you recognise that risk management is a continuous improvement process including risk identification, review and evaluation together with the application of controls where required and monitoring control effectiveness.
4. Finally, we provide the training materials and skills transfer to help your Real Estate team manage risk effectively.
Those involved with Real Estate now had a leaner, more cohesive system with many of the tools automated and supportive information a simple mouse click away. Inputs became more consistent due mainly to a greater awareness of what was required and improved guidance on how to evaluate and assess risks and controls.
In short, what had once been a disjointed and confused approach to Risk Management became an effective mechanism for identifying and controlling Real Estate risk.
“We believe our people drive our business, differentiating us from our competitors – allowing us to build lasting value by finding the answers to client questions.”
Peter Gagg, CEO, MCP Consulting Group Ltd