Risk Management

Consort's Risk Management advisory services involves identifying, managing and mitigating loss exposure or the possibility of reduction in future gains due to a customer's disaster recovery and business continuity strategy.

Services Description

Consort will work with you to identify, evaluate and prioritize key risks and opportunities for ensuring uninterrupted business operations in the event of a disaster. The service involves a combination of discovery, probability (the likelihood that the risk in question will occur), consequence (what will happen if the risk comes to pass) and materiality (what's the impact of the consequence) based on the organization's operating environment, industry norms and risk tolerance.

The compliance standards related to your specific industry have a direct effect on the overall cost of the risk services. Risk assessment is extremely valuable for prioritizing controls, focusing compliance and audit efforts.

An Overall Systematic Approach to Risk

Communications regarding risk are required by regulators, investors, creditors, clients and other external stakeholders.
As IT and business processes have become intertwined, the job of assessing and managing risk is no longer limited to finance or compliance functions. For the first time, a broad spectrum of business and operational risks — not just disaster recovery and business continuity — factor prominently in the IT agenda. Our Disaster Recovery Specialist will identify and help you implement the mechanisms to address the risk inherent in your environment. She/he will provide a shared basis and common language for stakeholders and make informed decisions about their risk exposure and participation in risk management.


Strategic Risk Encompasses the risks inherent in operating and competing in a given environment.
Compliance Risk Encompasses the risks associated with ensuring compliance with laws and regulations
Financial Risk Encompasses the risks associated with financial operations and financing.
Operational Risk Encompasses the risks associated with the operation and administration of the business.

Setting a Framework

Unmanaged technology introductions can introduce security risks (such as leaks, unsecured software, back doors and malware through technology owned by end-users).

Many companies put in place blanket policies that impede productivity. Consort can assist your organization by increasing its knowledge base regarding new technologies and their potential threats and benefits. We accomplish this by:

  • Identifying and analyzing each major risk to determine the potential impact (probability of occurring and severity if it occurs)
  • Developing strategies and plans for addressing and mitigating major risks (i.e., opportunities or actions for reducing the probability of occurrence or minimizing the impact).
  • Considering whether the total risks are within your risk profile (i.e., the returns are commensurate with the risks and the risks are acceptable).