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Press Release

ABS Group Provides Advisory Services, Tools for Enterprise Risk Management

July 18, 2016

US regulatory update OMB Circular A-123 now requires enterprise risk management.

(Arlington, Va.) ABS Group, a leading risk management provider and trusted advisor to the government sector, had anticipated the update to Circular A-123 from the United States (US) Office of Management and Budget (OMB) requiring US executive departments and agencies to adopt enterprise risk management (ERM), and has expanded its suite of ERM advisory solutions aimed at risk-informed decision making and mitigation strategies.

To help organizations comply with the new guidance and manage their risk exposure, ABS Group provides a suite of advisory resources and proprietary risk management tools through the Company's safety, risk and compliance services business unit.

"ABS Group has highly developed methodologies that enable organizations to quickly implement a proactive risk management culture. Our best practices are based on an adaptive ERM framework that applies a holistic approach throughout an organization and provides controls for diverse risk factors," says John Duncan, ABS Group Vice President, Government. "Since 1971, we have worked with thousands of commercial and government clients to understand and mitigate an extensive range of strategic and operational risks, giving us an unparalleled level of experience to address the entire risk portfolio."

"Our risk management professionals have performed extensive research as to why organizations have failed in the past to systematically identify, analyze, and address risks. This insight supports our evolving guidance and proprietary tools that can assist leaders charged with ERM," says Laura O. Jackson, ABS Group Senior Program Director for Strategic Planning and Enterprise Risk Management. "Our goal is to provide clients with a tailored ERM framework and organizational risk profile that will serve as the foundation for managing risk effectively and efficiently across their enterprises."

Jackson recently presented the webinar "Introducing Enterprise Risk Management," which is available for download in the ABS Group Knowledge Center.

ABS Group offers complementary engineering and analytical services in predictive and data analytics; incident investigation and root cause analysis; training and certification services; safety culture and performance evaluations; and security risk assessments.

For more information about OMB Circular A-123, read an interview with the OMB Controller on the White House's official blog. 

About ABS

ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.   

About ABS Group

ABS Group of Companies, Inc. (www.abs-group.com), through its operating subsidiaries, provides data-driven risk and reliability solutions and technical services that help clients confirm the safety, integrity, quality and environmental efficiency of critical assets and operations. Headquartered in Houston, Texas, ABS Group operates with more than 1,300 professionals in over 25 countries serving the marine and offshore, oil, gas and chemical, industrial manufacturing and government sectors. ABS Group is a subsidiary of ABS, a leading marine and offshore classification society.

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