RG RISK MAP
by Ian Smith
1. Staff/HR risks
1.1. Loss & management of key staff
1.2. Car park
1.3. Illness (incl mental health)
1.4. Staff retirement
1.5. Inconsistent staff management
2. Other risks
2.1. Succession planning
2.2. Partner death/long term sickness
2.3. Professional regulation compliance
2.3.1. AML
2.3.2. Engagement/disengagement
2.3.3. CPD
2.4. Client onboarding
2.4.1. Inadequate AML
2.4.2. Overlooked conficts of interest
2.5. Premises security/access
2.6. Future strategies (client & fee)
3. Operational risk
3.1. IT Systems
3.1.1. Hacking (emails)
3.1.2. Security breaches
3.1.3. Supplier failure
3.2. H & S issues
3.3. Loss of premises
3.4. Inadequate resource
3.4.1. Poor job management
3.5. Non compliance with RG procedures
3.6. Covid (impact)?
4. Reputational risk
4.1. Brand damage
4.2. Poor quality work
4.3. Missed deadlines
4.4. Bad PR
4.5. Rogue partners/staff
4.6. Theft/fraud
5. Financial risk
5.1. Loss of key sector/clients
5.2. Inadequate insurance (incl PII)
5.3. Cash/capital shortage
5.3.1. WIP & debtor management
5.3.2. Poor recoveries
5.3.3. Poor cost control