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Through its BT Global Services division it is a supplier of telecoms services to corporate and government customers worldwide, while BT Consumer and BT Business are suppliers of telephony, broadband and subscription television services in GB.
Like all businesses BT is affected by risks and uncertainties, impacted by external and internal factors. All the lines of business within BT are required to manage risk within the framework, identifying and responding to the key risks to their business and recording them within the ARM application.
An early partnership approach The partnership that exists today started as an early pilot project with Sword Active Risk previously Strategic Thought Group in Following the success of this early programme, ARM was soon rolled Risk management for british telecom more widely across the division for other key programmes.
Stephen Tait, Compliance Manager BT Group explains; "When BT wins a new business contract, it is often the case that different parts of the business are required to play a part in its delivery.
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This includes our BT Technology, Service and Operations TSO division which in many cases delivers services for such contracts, drawing upon other departments within the business. Having a robust mechanism to allow us to manage risks across teams is very important.
According to Stephen Tait; "We conducted a feasibility study of how risk was managed across the organisation and found that there was an opportunity to move our lines of business onto a common risk management system.
We worked with colleagues across BT to have ARM adopted and recognised as the standard approach for enterprise risk across the organisation, working with Active Risk to provide guidance and training as required.
In doing so we are now able to aggregate risk across the whole organisation and break down the risks from different viewpoints. Without too much effort we are able to create a format record types to suit different departmental work practices while keeping within our risk policies, getting more buy-in from the end users.
This ensures that different parts of the business receive the templates and reports formatted in a way to suit their individual requirements. It means that the recording and reporting of risk is more thorough, but less people intensive," said Stephen.
In fact, we are now in a position where the users are driving our evolution of ARM as much as the central risk team. It means that risk management can be built into their daily work, even used in conjunction with such applications as Microsoft Outlook.
The full ARM solution can be used by the true risk professionals, providing an aggregated view for highly complex reporting and analysis, while ARM Lite can also be used with less in depth knowledge — ARM can be adapted to the differing requirements of the end user," said Stephen.
Helping to meet Compliance and Governance Requirements The flexibility of ARM is now delivering more benefits to BT, as it is adopted for more specialised functions including governance and compliance. Our focus now is on maximising the benefits the tool provides to help us meet our customer and contract obligations and give us further assurance that financial and reputational risks are securely managed.
We have a trusted account manager that we have worked with for several years which means they understand our business and are able to help us to meet our risk management goals," concluded Stephen Tait.Risk Management Systems for the Insurance Industry - Market Update BT swap ‘the way forward' for longevity risk Prudential Financial scoops award for best reinsurer.
Insurance Risk staff; 14 Nov ; The transaction covers the longevity risk for about a quarter of total liabilities of the British Telecom Pension Scheme, with. Technical and supply-chain issues with equipment made by Chinese firm Huawei have exposed Britain's telecom networks to new security risks, .
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Appointed to the Board in February Skills and experience Charles joined British Land in from LaSalle Investment Management where he was Co-Head of Europe, Managing Director of the UK business, a member of the Management Board and an International Director.
Prior to joining LaSalle, he was with AXA Real Estate Investment Management for seven years where he was Head of Real .
BT Group plc (trading as BT and formerly British Telecom) is a British multinational telecommunications holding company headquartered in London, United Kingdom.
It has operations in around countries and is the largest provider of fixed-line, broadband and mobile services in the UK, and also provides subscription television and IT services..
BT's origins date back to the founding of the.
Established in , New World Telecommunications Limited (NWT) is a pioneering telecom service provider and Internet Data Centre operator. On 23 September , NWT Internet Data Centre has been selected as "The Best Internet Data Centre" in Hong Kong.
To increase its competitiveness and fulfilling the customer requirements, NWT decided to establish an ISO and ISO complaint IT.