Why Black Swan?

Questions Leaders must ask themselves

Boards need to embrace resilience and reliability thinking and need risk governance systems that address resilience and provide effective responses to risks.

Boards and Executives must be able to answer the following questions:

  • As a Leadership Team – are we truly aware of our biggest risks?

  • Integrated Enterprise Risks are very dynamic – is our risk management system dynamic and are our risk assurance systems robust?

  • The Impact of loss – do we understand the real long term reputational risk and future earnings loss – thus value erosion?

  • Do we have the organisational prevention strategies – do we have a balance of passive and active controls?

  • Do we have the organisational incident escalation control strategies and pre-plans in place?

  • Are we optimising our insurance costs including our D&O cover?

The Value Proposition

  • Independent review giving significant insights into risk and potential opportunities to reduce loss.

  • Health check at a strategic and tactical level to see how resilient and reliable an organisation is from a HSE perspective.

  • Reduce insurance costs.

  • Improve overall performance in HSE, Operations and ESG.

  • Improve senior leadership appreciation and understanding of the risk assurance processes.

  • Help identify opportunities for creating a higher reliability organisation overall. 

The Methodology

A 5-stage maturity model assessment for the board has been developed to cover the areas of good governance that high reliability organisations benefit from. It also identifies the opportunities achievable through effective risk governance and management. The drive is to make sure that a Board is ready to oversee the work of the Executive leadership, ensuring that incidents of a sizable nature are prevented and, if they occur, they are effectively controlled to avoid escalation and major losses to assets, people, share price, reputation, and organisational value.

The Service

Based on the ‘Performance Criteria’ and the 5-stage maturity assessment model,  developed by Dr Waddah S Ghanem Al Hashmi, depending on the size, nature of business, and industry and the board and executive leadership structure, at least two experts will be involved in undertaking the assessment. More experts maybe used, depending on the size and complexity of the organisation.

Assessments will take typically for a small organisation about 6-8 weeks and for larger more complex organisations up to 3 months. The investment in this engagement would depend on the size and complexity of the project, number of experts that need to get involved and the feedback workshops and findings reports.