Agile Risk Management

Agile Risk Management
Agile Risk Management - Protiviti

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 prioritize risk management and compliance.

As costs continue to increase, it is clear that the overly manual, reactive and siloed lines of defense 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 defense and embedded into business processes. This is the solution we refer to as Agile Risk Management.

The time has come for proactive organizations 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 Management Table



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 organization, operational excellence and customer satisfaction.
  • Operational Excellence is sustained by the successful execution of business strategy supported by efficient processes, optimized technology and risk agility.
  • An Aligned Organization of proactive collaboration and engagement is achieved by converging business and risk processes, while risk and business acumen is enhanced throughout the organization.
  • 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.

Agile Risk Management Pyramid

Why Protiviti?

Protiviti has a record of success helping clients develop strong risk management practices 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 practice, with the seamless integration of risk and compliance, technology, data and analytics solutions, to develop customized 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 organization 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.

Related Insights

In this video, we share Protiviti’s perspective on establishing and sustaining leading practices for risk identification and assessments, specifically risk and control self-assessments (RCSAs), consistent with our Agile Risk Management philosophy.

See what Protiviti's Managing Director Matthew Perconte discusses on 'RCSAs: A Powerful Tool for Success'.

Content Contributed by:

Cory Gunderson, Managing Director
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George Brown, Managing Director
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Peter Richardson, Managing Director
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Timothy Long, Managing Director
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Matthew Moore, Managing Director
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David Dawson, Managing Director
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Michael Brauneis, Managing Director
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Ed Page, Managing Director
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Giacomo Galli, Managing Director
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