Our Services

Challenging times demand global knowledge and local expertise. We can drive the change that supports our clients and give them added value and competitive advantage. We will work with clients to determine their needs and then develop and implement one of the following programs to address those needs.

Learning Facilitators (Training and Development)

KHBC are Learning facilitators and have conducted workshops at local universities and as in-house lectures for companies in the following industries; Financial Services, Entertainment, Food Production, Manufacturing, Retail, and Import/Export. We have also facilitated workshops for students at some of the tertiary level institutions.We are available to conduct training and development workshops in the following areas:

  • Operational Risk Management & Enterprise Risk Management
  • Regulatory Compliance (e.g. AML, FIU regulations etc.,)
  • Enhancing the risk culture of your organization
  • High performance individuals
  • Risks and Ethics (Risky Behavior versus Ethical Behavior)
  • Developing risk intelligent employees (management and staff)
  • Risk based process reengineering /business transformation
  • Increasing efficiency and productivity levels
  • Development and implementation of Key Risk and Key Performance Indicators
  • Strategic Planning
  • Business Continuity Planning/Disaster Recovery Preparedness
  • Health and Safety risks
  • Implementing effective Governance and Compliance frameworks

Consulting Services

Ken Hackshaw, the lead consultant at KHBC Limited has been working in the risk management industry for more than twenty (20) years and brings much needed global insight and experience to the local market. He is also one of the Caribbean’s leading experts in Operational Risk Management and Risk Culture Building and Management with over 23 years’ experience working in the United States and London in the field of Operational Risk Management, International Operations, and Business Process Re-engineering. Ken and his team provide consultancy services in the following areas:

(Click on a title for more information)

+Operational Risk Management (ORM)

Operational risk, broadly speaking, is the risk of loss from an operational failure. It encompasses a wide range of events and actions as well as inactions and includes, for example; inadvertent execution errors, system failures, acts of nature, conscious violations of policy, law and regulation, and direct and indirect acts of excessive risk taking. Health and Safety is also covered under the umbrella of our Operational Risk framework

Operational losses can be caused by junior staff; but they can also be caused by mid-level officers, senior managers, executives and Boards of Directors. They are sometimes caused by individuals and in other cases by groups of people working in collusion. Many of the largest losses take place when operational failures are present at the senior-most level. Additionally, business success centers on the ability of a company to correctly recognize and successfully manage the risks associated within its operations. Operational risks are all risks an organization might face that are not considered financial or strategic in nature. Addressing operational risks is difficult for many companies. Insufficient loss data, the lack of established methods for mitigating risk, the fact that there are many different types of operational risks with multiple corresponding owners, and an unclear cause and effect of risk and actual incidents are some of the challenges organizations face.

Client issues

  • We do not know what our major risks are and how to mitigate those risks nor do we know what our risk profile/appetite is.
  • We are losing money (theft/fraud/inefficiencies) and do not know how or why
  • How can management adequately and actively identify risks within the various businesses?
  • How can we increase value, improve performance and increase productivity?
  • We do not have any business continuity and disaster recovery plans
  • We are not prepared for any type of disaster (e.g. floods, fires, power failures)
  • How can you enhance your risk culture to achieve greater efficiencies and higher productivity levels?
  • Are we a risk intelligent organization?

+Risk Culture Building and Management

Risk culture is closely aligned with a firm’s general risk awareness and an embedded risk culture is at the heart of human decisions that govern the day to day activities of the firm, but when it goes wrong the consequences can be devastating  (e.g. AIG, BP, CL Financial)  and even fatal (e.g. Police, Defense Force and Private Security Companies).Failures such as fraud, internal theft, project failures, natural disasters and operational failures have their origins in certain organizational culture that allowed particular risks to take root and grow.

Risk culture can be defined as the norms and traditions of behavior of individuals and of groups within an organization that determine the way in which they identify, understand, discuss, and manage the risks  the organization confronts

Client issues

  • What risks are taking root in my organization that can result in major financial or operational disasters?
  • How can we embed risk and compliance into the culture of the organization so that all staff systematically identify, respond, assess and address risks and opportunities to the organization as a whole and in their own work areas, increasing judgment, discretion and accountability
  • Is there a formal process to consider risks when making important decisions
  • Do we know what our major risks are and do we have the internal expertise to identify those risks.

A robust risk culture throughout the company is essential in addressing the above issues. This risk culture should be embedded in the way the firm operates and cover all areas and activities, with particular care not to limit risk management to specific business areas or to restrict its mandate only to internal control.

Organizations today are facing increased complexity and uncertainty, making it difficult to manage operational and business risks.  They are concentrating all their efforts on existing in this new world, by stemming losses, reducing cost and managing revenues. Where there is attention to risk management, the focus is more on improving their risk management framework rather than tackling the underlying culture.

What can go wrong without the right risk culture?

  • Management and staff become too risk averse
  • Employees  become too reckless
  • Systems and processes do not serve their intended purpose
  • Productivity and efficiency levels stall
  • There is poor communication
  • Managers stop managing and workers work less

It is clear that management and staff require training to understand how to make educated risk-related decisions which will ensure consistent risk behavior in an organization.

+Governance & Compliance

Governance and compliance needs must be viewed as a natural extension of the duties shouldered by management and corporate boards. Moreover, only good governance can ensure that compliance (regulatory or corporate) is aligned with the company’s business objectives and risk management strategies.

Client issues

  • Your company may not be in compliance with regulatory rules (e.g. AML, FIU etc.).
  • New compliance issues require additional staff training.
  • Potential reputational risk from failing to comply with existing regulations.
  • Improper oversight at various levels of management.
  • No controls to ensure that proper governance framework processes are effective.

+Enterprise Risk Management (ERM)

Ideally, enterprise risk management (ERM) is a top-down, formal framework for identifying, prioritizing, analyzing, monitoring and managing all types of risk that an enterprise faces. It provides solid guidance for executive decision-making. ERM includes such risks as strategic risks, operational risks, financial risks (market and credit risks) and compliance risks.

Client issues

  • Is management aware of its operational, financial or strategic risks?
  • Are senior management adequately identifying and managing risks holistically or are risks seen in silos?
  • How can we identify risks at the enterprise level without incurring any additional costs?
  • What risks should we focus on given the many risks types that are inherent in our company profile?

+Business Process Reengineering

In today’s ever-changing world, the only thing that doesn’t change is ‘change’ itself. In a world that is increasingly driven by the three Cs: Customer, Competition and Change, companies are on the lookout for new solutions for their business problems. Some of the more successful business corporations in the world seem to have hit upon an incredible solution: Business Process Reengineering

Process reengineering should focus on processes and not be limited to thinking about the organizations for the organization is only as effective as its processes

A business process is a series of steps designed to produce a product or a service. It includes all the activities that deliver particular results for a given customer (external or internal).

Client issues

  • How can we reduce costs and cycle times and eliminate unproductive activities and the employees who perform them.
  • Can we get workers to assume responsibility for their output and measure their performance based on prompt feedback.
  • How can we get our workforce to perform as a cohesive unit

+Business Continuity Planning

While you may not be able to control the event, you can control its impact on your business.

Remaining productive, staying competitive, and enjoying continuous improvement means making the best, most informed operational decisions in a timely manner. However, a sudden event, such as a major flood, equipment failure, a blackout, the loss of key personnel and other interruptions, can occur anytime to seriously affect the continuity of your business.

You cannot predict when or how the next catastrophe will impact your organization, but with the right insight and planning you can better ensure that your company survives the event while retaining a competitive advantage. Some risks take the form of small but frequent losses; others are short but crippling. To manage your business risks effectively, you need an integrated approach.

We are able to assist you in meeting your business goals by providing customized solutions integrating our expertise in:

  • Physical asset protection
  • Disaster preparedness
  • Business continuity planning
  • Emergency response procedures
  • Business interruption and interdependency risk analysis
  • Risk management optimization
  • Information technology security

Client issues

  • We do not have a business continuity plan
  • We are not prepared for a natural or manmade disaster
  • Our data back up and restoration procedures are dated and inadequate

 

+Entertainment Risk Management

The following are risk services that are available to the entertainer, entertainment event, processes and systems

  • Event risk management (people, process, systems)
  • Environmental assessments
  • Threat and Vulnerability assessments (people and environment)
  • Health and Safety
  • Insurance and financial risk assessment (entertainers and other assets)
  • Travel risk assessments
  • Strategic Risk assessments
  • Reputational risk review

How can we help?

To discuss any of the above services or if there are issues facing your organization that does not fall into anyone of the above service categories (e.g. Human resources, business continuity, staff training and development) then please contact us via telephone at 868-468-0649 or email at khbclimited@gmail.com to schedule an appointment.