Wage Pty – Riskmanagement Specialist

Wage Pty – Riskmanagement Specialist


Project Description

Wage Pty Risk Management

To provide our clients with Proactive preventative risk management solutions to ensure risk/loss reduction through preventative actions and collaboration.

Principles and Guidelines is a risk management standard designed to help large and small public and private organizations to effectively manage the risks associated with their operations. Effective risk management strategies can be applied to risks with both potentially positive and negative impacts on your business.

By understanding the opportunities and challenges presented by risks, you can improve your bottom line and avoid negative financial and legal impact on your business.

We are a leader in the structuring and implementation of solutions for effective risk management across all sectors and industries. Our strategic approach and accessible network includes experts in all fields, and we have earned a reputation for comprehensive and transparent risk management results.

 

Our highly-qualified RISK ASSESSMENT AND ANALYSIS specialists carefully analyse all aspects of your organization including your goals, operational structure, processes, products/services, assets and projects.

 

This is key and essential in the process of developing a client specific risk management/loss prevention strategy that is aimed at the aspects that will now be known and therefor manageable.

  • Identify, evaluate and react to opportunities and threats
  • Improve your operational efficiency through proactive risk management
  • Improve loss prevention
  • Apply an increased understanding of health, safety and environmental regulations
  • Improve the resilience of your operation when faced with challenges of any kind.

RISK ANALYSIS – a MUST!!!

Introduction to WAGE PTP (proactive – tactical – preventative) Risk Analysis

Security risk analysis, otherwise known as risk assessment, is fundamental to the security of any organization. It is essential in ensuring that controls and expenditure are fully commensurate with the risks to which the organization is exposed.

Qualitative Risk Analysis

This is by far the most widely used approach to risk analysis. Probability data is not required and only estimated potential loss is used.

Most qualitative risk analysis methodologies make use of a number of interrelated elements:

Threats

These are things that can go wrong or that can ‘attack’ the system. Examples might include fire or fraud. Threats are ever present for every system.

VULNERABILITIES

These make a system more prone to attack by a threat or make an attack more likely to have some success or impact. For example, for fire a vulnerability would be the presence of inflammable materials (e.g. paper).

Controls

These are the countermeasures for vulnerabilities. There are four types:

Deterrent controls reduce the likelihood of a deliberate attack

Preventative controls protect vulnerabilities and make an attack unsuccessful or reduce its impact

Corrective controls reduce the effect of an attack

Detective controls discover attacks and trigger preventative or corrective controls.

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