Leading Biotechnology Company: Evaluated Enterprise Risk Management
A leading biotechnology company faced an increasingly complex operating and risk environment as a result of international growth, regulatory requirements, supply chain management, and pipeline development. Oliver Wyman was engaged to evaluate the current state of enterprise risk management in the organization and to identify where augmentation of existing areas could enhance decision-making. A diagnostic concluded that in order to rise to the next level of ERM, the management team must better integrate risk management into key decision making processes such as strategic planning and capital allocation. They also needed to create a formal, standardized, and consistent approach to risk management across the organization. From our ERM framework, senior management also gained insight into how the organization's risk management practices compare to other industry leaders and best practice guidelines. The evaluation will also inform management prior to the rating agencies' push into ERM ratings.
Experience
Our Risk and Health & Life Sciences engagements.
Contacts
Christopher McCarthy
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