What We DO

Enterprise Risk Management (ERM) Policies for Kenyan Markets

Olsen Partners is committed to fostering a proactive approach to risk management that supports the sustainability and growth of organizations in the Kenyan market. This ERM policy outlines the principles and practices that guide our approach to identifying, assessing, managing, and monitoring risks.

The primary purpose of this ERM policy is to:

• Establish a structured framework for identifying and managing risks across all levels of the organization.
• Enhance decision-making by integrating risk management into strategic planning and operational processes.
• Promote a risk-aware culture that encourages open communication about risks and their management.

Risk Management Framework

Olsen Partners employs a systematic approach to risk management, which includes the following key components:

• Risk Identification:
  • Regularly assess the internal and external environment to identify potential risks that could impact organizational objectives.
  • Utilize tools such as risk workshops, surveys, and SWOT analyses to facilitate risk identification.
• Risk Assessment:
  • Evaluate identified risks based on their likelihood and potential impact using qualitative and quantitative methods.
  • Prioritize risks to determine which require immediate attention and resources.
• Risk Mitigation:
  • Develop and implement risk mitigation strategies to minimize or eliminate identified risks.
  • Allocate resources and responsibilities for managing risks effectively.
• Monitoring and Reporting:
  • Continuously monitor the risk environment and the effectiveness of risk management strategies.
  • Provide regular reports to management and stakeholders on the status of risk management efforts and emerging risks.

Roles and Responsibilities

• Board of Directors:
o Provide oversight and ensure that risk management is integrated into the organization's strategic decision-making processes.
• Management:
o Implement the ERM policy and promote a risk-aware culture within the organization.
o Ensure that adequate resources are allocated for effective risk management.
• Employees:
o Understand and adhere to the ERM policy and actively participate in risk identification and management processes.

Training and Capacity Building

Olsen Partners is committed to providing training and resources to ensure that all employees are equipped with the knowledge and skills necessary to effectively identify and manage risks. Regular training sessions will be conducted to enhance the organization’s risk management capabilities.

Review and Continuous Improvement

This ERM policy will be reviewed annually to ensure its effectiveness and relevance in the changing business landscape. Feedback from stakeholders will be sought to identify areas for improvement. By implementing this ERM policy, Olsen Partners aims to create a resilient organization that effectively manages risks, enhances decision-making, and supports sustainable growth in the Kenyan market. We are committed to fostering a culture of risk awareness and continuous improvement in our risk management practices.