Agile Risk Management

Agile Risk Management
Agile risk management

Re-engineering Risk Solutions to Enable Business Strategies

Managing risk and compliance has become increasingly complex and expensive for financial services post-financial crisis. The increased regulatory expectations and the ever-changing nature and rise of inherent risk represent a new and permanent operating paradigm for the industry. To adapt, firms are expending significant time, money and resources to implement required changes and prioritise risk management and compliance.

 

As costs continue to increase, it is clear that the overly manual, reactive and siloed lines of defence status quo is unsustainable and cannot continue. We believe risk capabilities must be agile, flexible and nimble in order to be effective and efficient in responding to the changing environment. A better model is technology enabled, proactive, aligned across all three lines of defence and embedded into business processes. This is the solution we refer to as Agile Risk Management.

 

The time has come for proactive organisations to take the lead and adopt an agile risk management framework to better meet the challenges of today’s customers, shareholders, employees, and the risk and regulatory environment.

 

Agile Risk Graphic

 

What is Protiviti’s Agile Risk Management Framework?

At the foundation of the Agile Risk Management Framework is the central premise that business management and risk management should create a unified operating model with clear first, second and third line accountability.

  • Agile Risk Management enables successful anticipation and response to a rapidly-changing environment resulting in informed executive decisions through an aligned organisation, operational excellence and customer satisfaction.
  • Operational Excellence is sustained by the successful execution of business strategy supported by efficient processes, optimised technology and risk agility.
  • An Aligned Organisation of proactive collaboration and engagement is achieved by converging business and risk processes, while risk and business acumen is enhanced throughout the organisation.
  • Customer Satisfaction is improved by risk management and controls driving consistent customer experiences and ensuring the needs of customers are considered in the design of processes, products and services.

 

Protiviti Agile Risk Management Framework

 

Why Protiviti?

Protiviti has a record of success helping clients develop strong risk management practises with the responsiveness required for an ever-changing business environment. We work with over 75% of the world’s largest financial institutions, which benefit from our collaborative team approach to resolving today’s risk management challenges. Our professional consultants have varied industry and regulatory backgrounds that enables our unified financial services practise, with the seamless integration of risk and compliance, technology, data and analytics solutions, to develop customised agile risk management approaches to meet tomorrow’s challenges today.

 

Business, risk, compliance and internal audit groups need to work within an integrated framework with clear accountabilities that will lead to an aligned organisation for making sound decisions. We address risk and operational excellence as two sides of the same coin, leading to agility and optimal performance. We understand how customer satisfaction, and in turn growth, have become elusive. While risk management is intended to drive growth, it too often becomes an inhibitor. Our expertise positions you at the forefront of effective risk management with a unique approach to reap both immediate and long-term benefits.

 

 

Content Contributed by:

Cory Gunderson
Managing Director
+1.212.708.6313
[email protected]
George Brown
Managing Director
+852.2238.0486
[email protected]
Peter Richardson
Managing Director
+44 (0)20.7024.7527
[email protected]
Timothy Long
Managing Director
+1.212.399.8637
[email protected]
Matthew Moore
Managing Director
+1.704.972.9615
[email protected]
David Dawson
Managing Director
+1.647.288.8505
[email protected]
Michael Brauneis
Managing Director
+1.312.476.6327
[email protected]
Ed Page
Managing Director
+1.312.476.6093
[email protected]
Giacomo Galli
Managing Director
+39.02.6550.6303
[email protected]

 

 

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