OUR SERVICES

Governance Risk & Compliance (GRC)

Governance

In the wake of corporate scandals, a global pandemic and uncertain economic and social recovery, all eyes are firmly fixed on the Board and senior management. The way that the Board’s think, operate and collaborate is changing. Beyond Board regulation and compliance, Board members must be able to detect new risks, emerging risks and opportunities like never before.

Sound corporate governance is essentially about effective, responsible leadership characterized by the ethical values of responsibility, accountability, fairness and transparency. Flywheel Advisory supports and provides expertise to enhance effective governance and oversight of your organization’s risk management strategy. We pride ourselves in our agility to respond to emerging regulatory requirements and provide the requisite support to our clients’ leadership teams who ensure their businesses are continuously aligned on strategy, governance and execution.

Our offering in corporate governance includes;

  • Capacity Building and Training. 
  • Independent advisory services to Board Audit, Risk & Compliance committees. 

Enterprise Risk Management (ERM)

In an ever complex and volatile business environment, effective risk management now takes centre stage in fostering business stability and continuity. Flywheel Advisory risk management solutions bring a holistic approach to enterprise-wide risk management frameworks and provide an integrated view of the risks organizations face. 

We assist clients to define and implement their Enterprise Risk Management (ERM) frameworks through;

  • Evidence based policy response.
  • Setting up 2nd line of defence risk functions.
  • Capacity building and training. 
  • Driving a risk aware culture. 
  • Instituting measures to monitor and report key risks. 
  • Definition of the Risk Appetite Statement coupled with the attendant compliance processes. 

For companies that are on a rapid growth path, we would:

  • Steer benchmarking of the existing ERM framework programs, processes, structures, systems and reporting mechanisms with those of their peers. 
  • Assist in addressing the gaps identified and advising on the way forward.

Internal Audit

Flywheel Advisory offers audit and assurance services to financial sector clients, wherewith we have a breadth of experience in providing governance and risk management solutions. Our audit methodology is client-centric, based on our understanding of your business including the quality and effectiveness of your internal control framework. 

The primary responsibility of internal audit is to provide independent assurance to management, board of directors and other stakeholders on the control environment of an organization. Internal audit provides assurance that internal controls in place are adequate to mitigate the risks, governance processes are effective and efficacious, and organizational goals and objectives are met.

Flywheel Advisory supports firms to develop internal audit standards and manuals to help the audit teams perform the evaluations effectively in order to improve the effectiveness of risk management, control, and governance processes. 

Service Offering;

  • Outsourced Internal Audit Services
  • Development of Internal Audit Management Frameworks 
  • Development of Risk Assessment Frameworks 
  • Advisory support to Board Audit & Risk/Supervisory Committees

Regulatory Compliance

Regulatory environments are constantly evolving, and organizations must adapt to the changing requirements whilst balancing risk management and operational efficiency. 

Flywheel Advisory has adopted an agile regulatory monitoring approach to deliver regulatory compliance advisory services through a structured process for compliance management. In this offering we help you: 

  • Understand the implications and requirements of new and changing regulations.
  • Address legal and regulatory compliance requirements pertinent to business activities.
  • Design and implement a compliance management process for effective oversight, with operational efficiencies (Cost vs benefit).
  • Conduct risk assessments and advise on adequate risk-based approach mechanisms to support compliance.
  • Perform gap analysis to assess current state of regulatory reporting and implement revised reporting procedures and processes as appropriate.
  • Develop and administer compliance training programs.

Environment, Social and Governance (ESG) & Climate Risk Advisory

Climate change is a major global risk affecting businesses across industries. As extreme weather affects every continent and the world moves toward a lower-carbon economy, business have two interdependent goals. First is to help customers and communities navigate these complex and rapidly changing market dynamics and second to ensure that the businesses themselves are resilient to the shocks that come with climate change.

Flywheel Advisory has a marshalled a robust team of ESG & Climate Risk experts to help clients deliver on both regulatory and sustainability obligations. 

Service offering includes;

  • ESG & Climate Risk Awareness Training 
  • Climate Risk Management Technical Support
  • ESG Disclosures & Reporting