Risk Management Consulting Services
The source of any business is a good idea. What is good needs to be adapted to the existing social and economic world. At times certain businesses flourish, while others go bankrupt. To stay afloat and to keep your firm up-to-date with the rapid, almost daily, changes in society and the business environment, you need the specialized services of a risk management consultancy firm.
Several different approaches are adopted by management consulting firms, with the objective of helping their clients. Some clients prefer that the consultant act as an expert, by taking a prescriptive approach. Other clients prefer to work collaboratively, more like a partnership, with the consultant acting as a facilitator.
With regulatory bodies stepping up the intensity of supervision, firm’s internal capital and risk management frameworks face ever–increasing scrutiny. The ability of senior management to demonstrate the firm’s resilience through sound risk management practices, remains a key evaluation priority for the regulator.
For this, you need a experienced team comprising professionals, from risk management, valuation, advisory and regulator backgrounds combined with deep expertise of prudential regulation and risk management. Some key skills to look for would be :
? Risk management frameworks : assisting with or reviewing the firm’s arrangements in relation to the identification, quantification, reporting and management of all types of risk.
? Risk governance : reviewing and benchmarking current governance arrangements in relation to risk and prudential matters and advising on best practice.
? Financial risk modelling : building and validating financial risk models and their governance.
? Stress testing : developing and refining scenarios.
? Recovery and resolution : reviewing the firm’s recovery and resolution plans and assisting with approach and analysis.
If you could get these all, at one, place, that would be an ideal choice. To know more about how this ideal choice can be created and made to work for you, we can work together. Look for a partner, who can
? ascertain your attitude to risk
? take the time to understand your business
? identify areas where you might be exposed
? clarify the goals that you want to achieve
This will enable you to minimize your risk and exposure at every level, fiercely protecting your bottom line, whilst exploring opportunities to enhance your financial position.