Agile Risk Management. Re-engineering Risk Solutions to Enable Business Strategies

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1 Agile Risk Management Re-engineering Risk Solutions to Enable Business Strategies

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3 Agile Risk Management 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. Responding to Risk and Compliance Gaps Over the Years Has Left the Financial Services Industry in an Unsustainable Situation Significant Fines $100B Unsustainable Costs Large bank fines have topped $100B over past five years. Operating costs have become unsustainable as quick-fix solutions and increasing headcount is the norm to improve risk management practices. Growth and innovation have been forced to take a back seat given risk and compliance challenges. Inherent risk continues to rise given the underlying business complexity and increased pace of change. Growth and Innovation Risk and Compliance Inherent Risk PROTIVITI

4 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 exec utive decisions through an aligned organization, operational excellence and customer satisfaction. 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. Operational Excellence is sustained by the successful execution of business strategy supported by efficient processes, optimized technology and risk agility. 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 Customer Centricity Customer Satisfaction Consistent Experiences Risk-Enabled Decisions Aligned Organization Agile Risk Management Operational Excellence Agility Focus on Growth Optimized Performance PROTIVITI

5 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. Contact Information Cory Gunderson cory.gunderson@protiviti.com Timothy Long timothy.long@protiviti.com Michael Brauneis michael.brauneis@protiviti.com Atul Garg atul.garg@protiviti.com Matthew Moore matthew.moore@protiviti.com Ed Page ed.page@protiviti.com George Brown george.brown@protiviti.com David Dawson david.dawson@protiviti.com Giacomo Galli giacomo.galli@protiviti.it Peter Richardson +44 (0) peter.richardson@protiviti.co.uk PROTIVITI

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8 THE AMERICAS EUROPE/MIDDLE EAST/AFRICA UNITED STATES FRANCE ITALY THE NETHERLANDS Alexandria Atlanta Baltimore Boston Charlotte Chicago Cincinnati Cleveland Dallas Denver Fort Lauderdale Houston Kansas City Los Angeles Milwaukee Minneapolis New York Orlando Philadelphia Phoenix Pittsburgh Portland Richmond Sacramento Salt Lake City San Francisco San Jose Seattle Stamford St. Louis Tampa Washington, D.C. Winchester Woodbridge Paris GERMANY Frankfurt Munich BAHRAIN* Manama KUWAIT* Kuwait City Milan Rome Turin QATAR* Doha SAUDI ARABIA* Riyadh Amsterdam UNITED KINGDOM London ARGENTINA* Buenos Aires CHILE* Santiago PERU* Lima OMAN* Muscat UNITED ARAB EMIRATES* Abu Dhabi Dubai BRAZIL* Rio de Janeiro São Paulo MEXICO* Mexico City VENEZUELA* Caracas SOUTH AFRICA* Johannesburg CANADA Kitchener-Waterloo Toronto ASIA-PACIFIC AUSTRALIA Brisbane Canberra Melbourne Sydney INDIA* Bangalore Hyderabad Mumbai New Delhi CHINA Beijing Hong Kong Shanghai Shenzhen JAPAN Osaka Tokyo SINGAPORE Singapore * Protiviti Member Firm About Protiviti Protiviti ( is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit, and has served more than 60 percent of Fortune 1000 and 35 percent of Fortune Global 500 companies. Protiviti and our independently owned Member Firms serve clients through a network of more than 70 locations in over 20 countries. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies. Named one of the 2015 Fortune 100 Best Companies to Work For, Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index Protiviti Inc. An Equal Opportunity Employer M/F/Disability/Vet. PRO Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.