DUBAL’S Approach to Risk Management

How DUBAL Enabled a Risk Management Architecture for ERM and Beyond

Executive Summary 

Exponential growth and change in risks, regulations, globalization, distributed operations, processes, competitive velocity, business relationships, technologies, and business data encumbers organizations of all sizes. Organizations are hindered when aspects of risk are managed in disconnected silos that do not share information and collaborate. Integrated and sustainable risk management improves risk maturity and strengthens decision-making.  This cannot be accomplished in silos, but requires a federated approach to risk management supported by a foundational risk information and technology architecture.  Dubai Aluminium (DUBAL) was challenged in getting a consistent view of risks across the enterprise with standard definitions, language, and framework.   To address the challenge of herding the silos of risk, DUBAL established a structured and systemic approach to risk management by implementing a new Enterprise Risk Management (ERM) framework. To enable this ERM strategy, DUBAL implemented the MetricStream ERM Solution. GRC 20/20 has evaluated and verified the implementation of MetricStream at DUBAL and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized MetricStream and DUBAL with a 2014 GRC Value Award in the domain of Risk Management.

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