Titus has provided a variety of Enterprise Risk Management services to organizations across a variety of industries including healthcare, manufacturing, consumer/retail, financial services and insurance. We have successfully leveraged our expertise to deliver practical, efficient solutions in a cost-effective manner. By leveraging both our methodology and expertise, we deliver an effective management tool to help drive long-term performance and make your organization more effective.

ERM Strategy Development & Phased Implementation
Reacting to the ever-changing economic and regulatory environments, a regional healthcare provider recognized a growing need to both understand and manage key organizational risks. Titus provided expertise in developing and implementing an ERM framework to allow risk collection and prioritization. The infrastructure we created was used as the baseline for process re-design and significant organizational change. Throughout the implementation, data collected was assessed and evaluated for potential process improvement, resulting in $1M+ in savings. By applying a “do more with less” mentality, the framework was subsequently interfaced into Internal Audit and Compliance, driving more efficient and effective audit and compliance processes. Additionally, the Finance and Information Technology groups used the framework to ensure financial reporting effectiveness and information security. At the engagement conclusion, we put into place a management tool that not only positively impacted the organization’s effectiveness, but also embedded a risk awareness culture that better prepared the organization to achieve its strategic objectives.

Enterprise Risk Management, Operations
Following a series of control breakdowns, a national financial services provider needed a solution to ensure the effectiveness of its back-office operations. After considering various alternatives, Titus and the company’s management team defined an operational ERM strategy to create an efficient means to understand and prioritize risks, evaluate the effectiveness of mitigating controls and take appropriate actions based on risk severity. Our solution allowed for a thorough evaluation of the organization’s risk culture, identification of key gaps in risk management and a prioritization of actions to ensure an effective control environment. A key component of the process integrated Internal Audit, Compliance and Legal in order to ensure a comprehensive knowledge-sharing model and facilitate cross-organizational communication. To ensure long-term sustainability, a quarterly update process was implemented, allowing integrated reporting of the risk environment / risk profile at all levels, from line management through the Audit Committee. Upon completion, the back-office operations group had a consistent understanding of its key risks, a long-term risk management strategy, a significantly stronger control environment and a process ready to be rolled-out companywide.

Integrating Operational ERM into a Pre-existing Strategy
A Fortune 100 consumer products manufacturer with an existing ERM strategy needed a means to integrate its process into a tactical, operational ERM model. By linking the organization’s strategic risks to key operational components, Titus provided a solution to effectively identify and prioritize key operational risks, evaluate the effectiveness of the control environment and provide a business management tool to enhance business effectiveness by defining key focus areas. Additionally, key strategic components including leveraging the ERM strategy to evaluate the appropriateness of resource and budget allocations were implemented. This roadmap allowed the company to assess its resource model and reduce costs through a reduction or re-deployment of misaligned resources, without significantly increasing its inherent risk profile.