ISO 31000
About ISO 31000
ISO 31000 is an internationally recognized standard for risk management developed by the International Organization for Standardization (ISO). It outlines principles, frameworks, and processes for managing risks that may arise within an organization or for external stakeholders.
The standard applies to all types of risk, including strategic, operational, financial, and reputational risks, and applies to organizations of all sizes, complexity, and location.
ISO 31000 emphasizes the importance of developing a risk management culture within an organization, where risk management is integrated into decision-making processes at all levels. The standard also highlights the need for ongoing improvement and periodic review of risk management processes.
Does your company need it?
ISO 31000 is a risk management standard applicable to all types of organizations, regardless of their size, industry, or location. Therefore, any organization that wants to manage risks structured and systematically can benefit from implementing ISO 31000. This can include businesses, non-profit organizations, government agencies, and more. Some industries that require ISO 31000 include healthcare, finance, information technology, and engineering. Additionally, organizations subject to regulatory requirements related to risk management may find ISO 31000 helpful in meeting those requirements.
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How can Univate help?
At Univate Support, we offer comprehensive assistance to ensure your operations comply with ISO 31000 requirements. Our services include training, documentation, and implementing policies, procedures, processes, templates, checklists, guidelines, and other necessary controls. We provide end-to-end support until your organization completes a compliance audit, meeting all control requirements.
Our Implementation Approach:
Univate uses a 5-phase approach for GAP analysis, risk assessment, and implementation support.
Salient features of our engagement approach are:
- Unique and Proven engagement approach
- End-to-end documentation
- Training on the control implementation and sustenance.
- Complex client implementation experience in different countries
- Cost arbitrage
- Reduce management time required
- Reduce the cost of sustenance
- Reduce cycle time of end-to-end implementation process
- Our unique automation tool automates managing the system
Our assessment and implementation support methodology addresses the critical areas like:
- Conduct a Gap Assessment of the existing controls.
- Assess risks and opportunities.
- Define, review and update Policies, procedures, processes, templates, guidelines, and checklists.
- Active support for effective implementation of controls
- Internal audit for compliance
- Corrective and remediation/ preventive actions
- Conduct/support the final compliance audit process
Implementation benefits:
- Improved risk management
- Increased stakeholder confidence
- Better compliance with regulatory requirements
- Enhanced operational efficiency
- Improved business resilience
- Competitive advantage
