Ecclesiastical launch Risk Maturity Assessment tool

22 March 2024

Ecclesiastical has launched a new Risk Maturity Assessment tool aimed at helping organisations improve their risk maturity—their ability to manage risk effectively.

The tool is free for any organisation to use and is designed to help them understand where improvements can be made in their risk management approach.

The assessment tool, created by Benefact Group’s insurer, involves completing a series of questions across ‘3 pillars’: Governance, Processes, and Resources. These cover risk management areas such as policies, processes, culture, training, and insurance, among others.

Once completed, a maturity risk score is generated, which could be ‘developing’, ‘integrating’, ’embedding’ or ‘optimising’. Additionally, it provides a bespoke action plan that lists the areas of improvement to move towards the higher risk maturity levels.

There are many benefits to completing an assessment exercise like this:

• It helps charities understand their current capabilities in identifying, assessing, managing and monitoring risks.
• Having greater risk maturity helps decision-making by prioritising strategic and higher-risk issues.
• It provides a benchmark and allows you to track progress by completing the assessment annually or more frequently.
• It provides a practical action plan to help reach a higher risk maturity score.

Sign up to use the free tool here: https://www.ecclesiastical.com/risk-management/enterprise-risk-management/risk-maturity-assessment/