The Client and Its Challenge
A telecom start-up experiencing rapid growth through acquisitions had been employing casual, ad-hoc risk management policies and procedures. A newly hired risk manager sought to gain third-party validation of an initiative to formalize risk management efforts, particularly in the area of risk control. The risk manager hired Marsh's Risk Focus practice to assess the company's risk exposures.

The Risk Consulting Solution
Marsh interviewed several of the company's senior managers, including executives from human resources, information technology, and marketing, among other departments. Through these interviews, the Marsh team developed a clear understanding of the company's objectives, key challenges, acquisition strategy, and competitive environment.

The due diligence conducted during the interview process helped facilitate the subsequent management workshop, which included leaders from across the organization and focused on the evaluation of risks within nine broad categories. The goal of the workshop was to achieve consensus regarding the company's most critical risk exposures and to establish management consensus on risk management policies, procedures, and protocols.

Results
The client found the Risk Focus report—a document that summarized the company's overall risk management position and served as a blueprint for improvement—to be extremely helpful in prioritizing its risks. The risk manager expressed confidence that the action plan would help her successfully rally for increased resources for risk management efforts.