The Global Risk Agency

Last modified: August 2, 2023
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Estimated reading time: 15 min

Overview

About

Stepping forward as a trailblazer in risk management, the Risk Agency – a key initiative of the Global Centre for Risk and Innovation (GCRI) – innovates the sector with its Platform-as-a-Service (PaaS) model. We seamlessly connect diverse stakeholders: independent agents, clients, service providers, and solution providers, catalyzing collaborative solutions and revolutionizing risk management strategies.

Our comprehensive suite of services spans advisory, consultancy, and training, each designed with precision to meet unique stakeholder needs. Our advisory services provide strategic risk insights, while our consultancy services deliver bespoke risk solutions, and our training nurtures a culture of risk-awareness and resilience.

In an era defined by uncertainty, the Risk Agency equips stakeholders with the tools to navigate intricate risk landscapes, tackling strategic, operational, financial, cyber, and reputational risks. We leverage the Sustainable Development Goals (SDGs) as a collaboration framework, intertwining sustainability into our risk management strategies and empowering stakeholders to integrate it into their strategic planning, contributing to global development objectives.

Purpose

Cementing its place as a dynamic facilitator in the risk management sphere, the Risk Agency’s mission is to forge an interactive, collaboration-driven ecosystem centered on risk management and pioneering innovation. Harnessing the power of Platform-as-a-Service (PaaS) technology, the Agency nurtures a vibrant community where independent agents, clients, service and solution providers intersect seamlessly, exchanging knowledge, strategies, and industry best practices.

Our agenda extends beyond simply managing risks. We seek to amplify risk management capacities, stimulating innovative strategies that not only mitigate risks but create opportunities. We believe in sustainable innovation – solutions that drive business growth while upholding social, economic, and environmental sustainability.

Underpinning our services is a commitment to the broader sustainable development agenda. We align our strategies with the Sustainable Development Goals (SDGs), leveraging them as a framework for fostering collaborations and driving impact. Through our platform, we empower stakeholders to integrate sustainability into their risk management strategies and business models, contributing to global development objectives.

Objectives

At the heart of the Global Risk Agency (GRA) lie key objectives designed to empower and connect stakeholders in the world of risk management and sustainable innovation. We strive to facilitate seamless access to expert insights and valuable resources, fostering an environment conducive to learning, growth, and collaboration.

Our primary aim is to bolster knowledge and skills in risk management and sustainable innovation, providing stakeholders with the tools to navigate an increasingly complex and uncertain risk landscape. Through our expert advisory, bespoke consultancy, and comprehensive training services, we provide tailored solutions that build resilience, catalyze innovative thinking, and promote sustainable practices.

An integral part of our mission is to inspire engagement and collaboration among stakeholders. We believe that a collective approach amplifies our capacity to manage risks, innovate sustainably, and contribute to global development objectives. In fostering this collaborative spirit, we strive to instill a sense of shared ownership and responsibility among all stakeholders, enhancing the quality, relevance, and impact of the services we provide.

Business

The Global Risk Agency (GRA) is pioneering a transformative business model that combines the potential of a Platform-as-a-Service (PaaS) with the benefits of a commission-based model. Operating as a hybrid service platform, GRA serves as a marketplace connecting diverse service providers – individuals, teams, co-ops, or companies specializing in risk management and innovation – with clients seeking these services. The platform facilitates an exchange of services, creating a dynamic ecosystem that benefits both parties and the GRA.

The platform’s extensive functionality, including a matching algorithm, secure payment infrastructure, and customer support, is monetized through service fees imposed on clients. This fee can be a fixed amount or a percentage of the total service contract value. In addition to the service fee, GRA collects a commission from service providers, a percentage of the payment made by the client to the service provider. This dual-revenue model is designed to maximize the volume of transactions, ensuring revenue growth as business volume increases.

Service providers can set their hourly rates and offer add-on services for an additional charge, allowing them to customize their offerings to client needs. These add-on services – like extended support, tailored reports, and premium access to resources – create additional revenue streams while providing value to clients.

GRA’s value proposition for service providers includes exposure to a vast pool of potential clients, streamlined administrative tasks, and a reputable platform to showcase their expertise. For clients, GRA provides a simple, efficient way to find and hire the right expertise, enabling informed hiring decisions. By ensuring the quality and reliability of services and handling dispute resolution, GRA minimizes risk for clients.

The GRA business model is inherently scalable. As the platform accommodates more service providers and clients, transaction volume and revenue grow simultaneously. The platform is designed to expand easily to accommodate increased usage, with the commission-based revenue model ensuring that growth in platform usage directly translates into revenue growth. Thus, GRA’s hybrid model offers value for all stakeholders while ensuring a sustainable, scalable revenue stream for the agency.

Stakeholders

The Global Risk Agency (GRA) fosters a rich and dynamic ecosystem of stakeholders, each playing a critical role in the risk management and innovation landscape. The Agency’s stakeholder matrix is rooted in the Quintuple Helix (QH) model, which emphasizes the interconnectedness of society, ecology, academia, the economy, and policy.

Independent agents form the backbone of the GRA, offering a wealth of advisory, consultancy, and training services in risk management and innovation. These agents come from diverse professional backgrounds, bringing their expertise and insights to clients through the platform.

Clients span various industries and sectors, each with unique risk management needs and innovation objectives. These clients benefit from the specialized services offered by the independent agents, gaining valuable insights and strategies tailored to their specific challenges.

Service and solution providers add depth to the GRA ecosystem. These stakeholders collaborate with agents and clients, offering innovative tools, technologies, and services that enhance risk management and drive sustainable innovation.

Beyond the immediate platform stakeholders, the GRA also collaborates extensively within the Quintuple Helix framework. We engage with academia, incorporating cutting-edge research and theoretical insights into the services offered on our platform. This collaboration helps keep the GRA at the forefront of risk management and innovation trends.

Government bodies are key stakeholders, as policy decisions significantly impact the risk landscape. By working closely with these entities, the GRA helps shape policies that promote sustainable risk management and innovation.

Civil society organizations play a critical role in the GRA’s stakeholder ecosystem. By engaging with these organizations, the Agency ensures that societal concerns and needs are appropriately addressed in the risk management solutions offered on the platform.

Finally, environmental groups are an essential part of the GRA’s stakeholder matrix. Collaboration with these entities helps ensure that risk management strategies align with environmental sustainability goals, contributing to a more resilient and sustainable future.

Technology

Embracing the digital revolution, the Global Risk Agency (GRA) harnesses the power of Platform-as-a-Service (PaaS) technology, creating a dynamic and efficient platform tailored for risk management professionals.

Our PaaS infrastructure is more than just a tool; it’s a comprehensive workspace where risk management professionals, clients, and solution providers converge. It’s secure, implementing stringent cybersecurity protocols to safeguard confidential data and transactions, a critical aspect for professionals working with sensitive risk-related information.

Scalability is a distinctive feature of our PaaS technology. It accommodates growth, ensuring that the platform’s performance remains unaffected even as the number of users increases. This means risk professionals can focus on providing high-quality services, confident in the platform’s capacity to handle rising demands.

PaaS technology’s flexibility enables integration of diverse tools and solutions. Risk analysis applications, mitigation strategies, or specialized consultancy services can be integrated within the platform, providing risk professionals with a robust toolkit to address diverse client needs.

The technology also serves as a collaborative hub, fostering a thriving community of risk management professionals. In-platform communication features support real-time consultations, project discussions, or knowledge sharing. This encourages an ecosystem of continuous learning and collaboration, enabling professionals to stay updated with the latest trends and best practices in risk management.

GRA’s PaaS technology provides risk management professionals with a comprehensive, secure, and collaborative platform, redefining their interaction with clients and service providers while optimizing their risk management practices.

Services

Advisory

The Global Risk Agency (GRA) prides itself on providing world-class advisory services, offering in-depth insights and prudent advice on a plethora of risk-associated challenges. Leveraging the diverse expertise of our independent agents, we offer unrivaled perspectives on an array of risk domains, such as environmental, social, and governance (ESG) risks, public health risks, geopolitical instability, technological disruption, and many more.

Our advisory services are designed to guide clients through complex risk landscapes, aiding them in embedding effective risk management strategies into their day-to-day operations, strategic planning, and long-term visions.

Delving deeper into the agency model for risk mitigation, our approach confronts the principal-agent problem head-on, managing the risks that arise from this complexity. Beginning with the identification and in-depth analysis of risks, we establish effective risk management strategies aimed at mitigating negative impacts. We address critical issues such as moral hazard and adverse selection, aligning incentives to design potent contracts and enforce fiduciary duties.

Our advisory model emphasizes robust monitoring, comprehensive auditing, forward-thinking corporate governance, and judicious decision-making under uncertainty. These form the pillars of our advisory services.

Recognizing the importance of ethical practices, we promote transparency, accountability, and the effective management of conflicts of interest. Our risk mitigation strategies encompass a broad spectrum of risks, including but not limited to operational, strategic, cyber, financial, and reputational risks.

Our model is designed to be adaptable across various industries and sectors. This adaptability necessitates a profound understanding of effective risk governance, risk maturity models, and risk-based decision-making processes, all of which we strive to bring to the table for our clients.

GRA’s advisory services provide expert insights, strategic guidance, and practical solutions to help our clients navigate the multifaceted world of risk management.

Consultancy

At the heart of the Global Risk Agency’s consultancy services is the belief in systems innovation as a vital tool for tackling the complexities of risk management. Leveraging the expertise of our independent agents, we provide tailored, transformative solutions that move beyond traditional risk management paradigms.

Our consultants aid clients in developing and implementing strategies that view risk management through the lens of systems thinking. This approach allows organizations to understand the interconnectedness of risks within their complex operational ecosystems. We help businesses identify and anticipate not only apparent risks but also emergent threats arising from the intricate interactions within and across their operational, technological, and social systems.

In the domain of Environmental, Social, and Governance (ESG) risks, we encourage a systems-oriented perspective that acknowledges the interconnected nature of these factors and their cascading effects on an organization’s resilience and reputation. Our consultancy services support businesses in making decisions that take into account the systemic impacts of their actions, fostering responsibility, compliance, and sustainability.

In the sphere of digital transformation, we apply systems innovation to manage the multi-faceted risks associated with digitization. We assist in building comprehensive digital strategies that account for the complex interplay of technological, cybersecurity, and operational risks. This holistic approach ensures a smooth, secure transition to digital operations, providing a firm foundation for harnessing the opportunities of the digital age.

Finally, our emphasis on systems innovation extends to our approach to fostering organizational innovation. We support clients in creating a culture that encourages creative thinking, collaborative problem-solving, and the nimble implementation of new ideas. By integrating systems thinking into their innovation strategies, businesses are better equipped to turn risks into opportunities and drive sustainable growth.

Our consultancy services offer more than conventional risk management advice. We work alongside our clients as strategic partners, promoting a systems-oriented approach to risk that enhances their capacity to navigate complex risk landscapes, now and in the future.

Training

Knowledge is power, and in the field of risk management and sustainable innovation, it’s the catalyst for resilience and growth. The Global Risk Agency understands this, which is why we prioritize training as a key service offering.

Our independent agents, who are experts in their respective fields, deliver a variety of training programs, each designed to enhance your knowledge and skills in risk management and sustainable innovation. From intensive workshops to comprehensive training programs, our educational services cater to diverse learning needs and professional contexts.

Each course is designed with a systems perspective, encompassing the interconnected landscape of modern risks. We cover a broad spectrum, from the essentials of risk identification and mitigation to the complexities of Environmental, Social, and Governance (ESG) risks. Our training programs also delve into the cutting-edge field of sustainable innovation, empowering businesses to transform potential threats into opportunities for growth and positive impact.

Not only do we provide the necessary knowledge and tools, but we also guide stakeholders in integrating this learning into their operations. Our training services are designed to ensure that the skills and strategies learnt are not just theoretical but can be practically implemented, fostering resilience and driving sustainable development.

The Global Risk Agency’s training services are not just about imparting knowledge, but about empowering businesses and individuals to understand, navigate and innovate within the complex landscape of risk and sustainability. By investing in training, you invest in the future resilience and success of your organization.

Quintuple Helix

At the core of the Global Risk Agency’s approach lies the Quintuple Helix Model. This model breaks down traditional silos, bringing together academia, industry, government, civil society, and the environment in a vibrant interplay of perspectives, insights, and resources. Each of these five ‘helices’ is integral to our mission of managing risks and driving sustainable innovation.

In academia, we find cutting-edge research, theories, and methodologies. Industry offers practical experience, commercial wisdom, and resources. Government, with its regulatory and policy-making roles, provides the rules of the game. Civil society infuses our efforts with community insights, social values, and public advocacy. Finally, the environment is the ultimate context in which we all operate, reminding us of the inextricable link between our actions and the natural world.

The Quintuple Helix Model fosters an inclusive, holistic approach, harnessing the strengths of diverse sectors to generate comprehensive and robust strategies for risk management and sustainable innovation. It encourages cross-sectoral collaboration, facilitating the exchange of knowledge and experience to drive innovative solutions to complex challenges. This approach informs our strategy and operations, shaping our stakeholder engagement and service delivery.

By embracing the Quintuple Helix Model, the Global Risk Agency champions a collaborative, systemic approach to risk and innovation. We believe that by integrating different perspectives and capabilities, we can better navigate the complexity of contemporary risks and drive sustainable growth and development. The future of risk management is collaborative, inclusive, and sustainable, and it’s happening right here at the Global Risk Agency.

Compliance & Ethics

A fundamental pillar of the Global Risk Agency’s operations is our steadfast commitment to regulatory compliance and ethical conduct. Operating in a complex, multifaceted domain like risk management demands a firm grounding in compliance, and we embody this through our adherence to all relevant laws, regulations, and industry standards.

We extend this commitment beyond our operations, encouraging all our stakeholders – agents, clients, service providers, and solution providers – to foster an environment of compliance and ethical behavior. This commitment encompasses both local and international standards, keeping us aligned with the highest global benchmarks.

Transparency, accountability, and respect for human rights are not mere buzzwords at the Global Risk Agency; they are the bedrock of our policies and practices. Our unwavering commitment to good governance sets us apart, reinforcing trust among our stakeholders and contributing to our robust reputation in the risk management landscape.

Our integrated approach to risk management includes the compliance risks inherent in today’s complex regulatory environment. By ensuring that these principles form a core part of our model, we guarantee that our platform isn’t just innovative, but also secure, compliant, and reliable.

At the Global Risk Agency, we believe that a commitment to compliance and ethical conduct isn’t just good for business; it’s the right thing to do. It’s a vital part of our vision of a more sustainable and resilient future, and we’re proud to champion it at every level of our operations.

For Agents

Value Proposition: As an independent agent partnering with the Global Risk Agency, you join a dynamic ecosystem powered by the Global Centre for Risk and Innovation (GCRI). Our platform provides an exceptional opportunity to leverage your expertise, engage with a diverse array of clients and service providers, and work on complex challenges in risk management, innovation, sustainability, and ESG efforts.

Customer Segments: The Agency’s model caters to a wide spectrum of entities seeking expert guidance in risk mitigation, compliance, sustainability, and innovation. This includes corporations, SMEs, government bodies, educational institutions, and non-profit organizations, allowing for varied and rewarding work experiences.

Channels: Opportunities for engagement include the Risk Agency platform, direct advisory, consultancy, and training services, webinars, online seminars, workshops, as well as networking events and industry forums. These diverse channels allow for multi-faceted growth and learning experiences.

Customer Relationships: Building strong and sustainable relationships is at the heart of our ethos. Regular communication, personalized advisory, and consultancy services, tailored training solutions, and a responsive feedback mechanism ensure continuous engagement and collaboration with our valued clients.

Key Activities: As an independent agent, your key activities involve offering expert risk and innovation advisory services, developing and implementing tailored strategies for clients, conducting training programs to build capacity, and engaging with quintuple helix model stakeholders.

Key Resources: By partnering with us, you gain access to our network of independent risk and innovation experts, the advanced PaaS technology provided by GCRI, a diverse portfolio of clients and service providers, and a wealth of expert knowledge in risk mitigation, compliance, sustainability, and innovation.

Key Partnerships: We believe in the power of partnerships. As an independent agent, you’ll collaborate with third-party service and solution providers, engage directly with clients for risk and innovation initiatives, and foster relationships with quintuple helix stakeholders.

Revenue Streams: Our robust platform allows for multiple revenue streams. These include fees from advisory and consultancy services, revenue from training programs, earnings from collaborative projects with service and solution providers, and potential grants and funding from relevant entities for specific initiatives.

For Companies

Value Proposition: Partnering with the Risk Agency offers advisory companies an unparalleled opportunity to amplify their service offerings and client engagement. Leveraging our sophisticated technology platform, broad network of experts, clients, and solution providers, you can provide comprehensive risk and innovation management solutions, enhancing your value proposition and exploring new market opportunities.

Customer Segments: Our Agency model serves a wide range of customers seeking expert guidance in risk management, compliance, sustainability, and innovation. This diverse clientele includes corporations, SMEs, government bodies, educational institutions, and non-profit organizations, opening avenues for diversified engagements.

Channels: Our multi-dimensional channels, including the Risk Agency’s PaaS platform, customized advisory services, webinars, online seminars, workshops, and industry forums, facilitate meaningful interactions and knowledge exchanges.

Customer Relationships: We prioritize building enduring relationships through continuous communication, personalized advisory services tailored to clients’ needs, capacity-building training programs, and responsive feedback mechanisms, fostering ongoing engagement and mutual growth.

Key Activities: As a partnering company, your crucial activities will encompass providing expert risk and innovation advisory services, developing bespoke strategies for risk management, compliance, and innovation, conducting capacity-enhancing training programs, and engaging with quintuple helix model stakeholders for broader insights.

Key Resources: Our partnership equips you with a robust set of resources, including access to our expert advisory team, the Risk Agency platform and networks, a comprehensive knowledge base on the latest trends in risk mitigation, compliance, sustainability, and innovation, and relationships with a diverse portfolio of clients and service providers.

Key Partnerships: Believing in the strength of collaborations, we encourage you to engage with third-party service and solution providers, clients, and stakeholders within the quintuple helix framework. This multi-stakeholder approach fosters holistic insights and more comprehensive service offerings.

Revenue Streams: Your revenue streams are diversified and sustainable. These include fees from advisory and consultancy services, earnings from training programs, revenue from collaborations with third-party service providers, and potential grants and funding for specific initiatives.

For Public Sector

Value Proposition: By leveraging the GCRI’s Risk Agency’s robust platform, cities, and public sector entities are empowered to manage and mitigate risks more effectively, foster innovation, and drive sustainability. This partnership aids in informed decision-making, effective policy formulation, and the realization of smart city ambitions, drawing from our advanced technological solutions and expert advisory services.

Customer Segments: Our agency model is designed to meet the needs of public sector organizations, government agencies, cities, and local authorities. These entities stand to benefit from our expertise in risk management, compliance solutions, innovation, and sustainable development.

Channels: Our channels include the Risk Agency’s PaaS platform, policy advisory and consultancy services, capacity-building training programs, and public forums, conferences, and networking events, ensuring efficient information exchange and collaboration.

Customer Relationships: We prioritize consistent communication and provide updates on policy guidelines, risk management, and innovation strategies. We offer personalized consultancy services tailored to each entity’s unique needs and contexts and capacity-building programs to enhance in-house abilities. A robust feedback mechanism and continuous engagement ensure we meet our partners’ needs effectively.

Key Activities: Key activities for our public sector partners include leveraging the Risk Agency’s platform for risk management and innovation, formulating and implementing effective policies, building capacities through tailored training programs, and engaging with various stakeholders within the Quintuple Helix model for broader perspectives.

Key Resources: As our partner, you’ll have access to a network of policymakers, advisors, and consultants, our platform and network of experts and solution providers, and a knowledge base on the latest trends in risk mitigation, compliance, sustainability, and innovation. Your existing infrastructure and public services are also crucial resources in this partnership.

Key Partnerships: We advocate for collaboration with the Risk Agency for platform access and advisory services, partnerships with third-party service and solution providers for innovative solutions, engagement with local communities, businesses, and educational institutions, and connections within the Quintuple Helix framework for comprehensive insights.

Revenue Streams: Your revenue streams may include public funding and taxes, grants and funding for specific projects or initiatives, collaboration with private sector entities, and fees from services provided to the public. These diversified income sources ensure the sustainability and growth of your risk management and innovation initiatives.

For CSO/NGO

Value Proposition: GCRI’s Risk Agency offers a unique opportunity for Civil Society Organizations (CSOs) and Non-Governmental Organizations (NGOs) to enhance their risk management capabilities, stimulate innovation, and boost their capacity-building efforts. By leveraging our platform and services, CSOs and NGOs can improve their decision-making processes, streamline program effectiveness, fortify stakeholder relationships, and inculcate a culture of continuous learning and innovation.

Customer Segments: The agency model is crafted to cater to a diverse array of local and international CSOs and NGOs operating in varied sectors such as human rights, education, healthcare, environmental stewardship, and social development.

Channels: Our channels include the Risk Agency’s comprehensive PaaS platform, tailored advisory and consultancy services, capacity-building workshops and seminars, and a variety of online webinars and networking forums designed to encourage learning and collaboration.

Customer Relationships: We maintain regular communication and offer updates on the latest risk management practices, innovation strategies, and policy updates. Our personalized advisory services cater to each organization’s unique requirements. Our participatory workshops and training programs empower your organization with the requisite knowledge and skills, and our continuous engagement and feedback mechanisms help us adapt to your evolving needs and challenges.

Key Activities: CSOs and NGOs can capitalize on the Risk Agency’s platform for risk management and innovation support, access tailored advice and consultancy services, partake in capacity-building programs and learning events, and collaborate with diverse stakeholders within the Quintuple Helix model for an integrative approach to problem-solving.

Key Resources: Our resources for you include a network of experts in risk management, policy advising, and capacity building. Access to the Risk Agency’s platform equips you with a broad network of experts and resources. Moreover, your existing partnerships and alliances within civil society, government, academia, industry, and environmental sectors are also key resources.

Key Partnerships: We advocate for collaboration with the Risk Agency for platform services and expert advisory, engagement with other CSOs and NGOs for collective action and shared learning, partnerships with government agencies, academic institutions, and industry players for well-rounded insights and support. Your relationships with funders, donors, and supporters are critical for financial and resource backing.

Revenue Streams: Your potential revenue streams might comprise grants and donations from varied funding sources, project-specific funding, membership fees (where applicable), and collaborative funding for joint initiatives with other organizations. These diversified income sources will ensure the sustainability and advancement of your risk management and innovation initiatives.

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