Risk Management

Today’s electric co-ops must have a well-designed process for identifying, understanding, and mitigating their key risks. Our risk management advisory service will give your co-op exactly that.

Empower your co-op’s management team with the tools, techniques, insights, and mindset to establish an excellent risk management process. Working with GreatCo-Ops, your electric cooperative will be well along the way to managing its risks, creating a risk-aware culture, and ensuring that the co-op thrives long into the future.

Let’s work together to improve your co-op’s risk management capabilities.

Given the uncertain times ahead, an excellent risk management process is critical for the success of electric cooperatives.

The GreatCo-Ops Risk Management Advisory Service

Working closely with our team of risk management, governance, and business strategy experts, your electric cooperative will create a risk management process that fits the evolving industry landscape.

Our risk management advisory service will help your management team:

  • Determine your cooperative’s risk appetite
  • Identify key risks that may interfere with achievement of your co-op’s objectives
  • Determine the likelihood and impact of each risk
  • Establish the co-op’s risk tolerances across each risk
  • Identify “risk owners” at the co-op who are responsible for analyzing and managing each risk
  • Develop mitigation plans for those risks

Your co-op’s senior staff and key employees will be involved in every step of the process, ensuring that they develop the skills required to manage the co-op’s risks long after our engagement is over.

A failure to manage risks is one of the biggest risks of all for an electric co-op.

Benefits to Electric Cooperatives Achieving Excellence in Risk Management

  • Reduced costs due to risk mitigation
  • Improved protection of the co-op’s assets
  • Greater clarity on budgetary priorities
  • Enhanced board trust in management
  • A sharper risk management mindset among employees
  • Increased member confidence in their cooperative
  • A higher probability of achieving strategic goals
  • Fewer unexpected negative events
  • More certainty about the cooperative’s future

Contact us today so we can begin working with you to develop a comprehensive risk management approach at your co-op.