DFRC believes that risk management should reflect the corporate culture of an organization, provide insight into the business decision process and clarity of management effectiveness. To be effective, the risk management organization should be independent of the business organization and provide:
DFRC employs a Client Team Approach rather than the more usual outside consulting team. Clients assemble a project team of professionals who would work jointly with a DFRC Team. The team jointly develops the recommended approach by analyzing the risk management infrastructure, implementing a comprehensive methodology, and proposing suitable controls to address the total risk profile of the client.
This approach is not only more cost effective for the Client, but it also provides the best motivation and involvement for the Client’s resources. We also actively involve the Senior Management and the Board in all stages of the project. This approach has excellent educational benefits, and we believe fosters the long-term success of the project.
This approach is suitable for those firms that are committed to a major review and restructuring of their risk management process and have the resources available but lack the expertise internally to ensure the timely implementation of the project.
Risk Management Consulting Services
Our Risk Management Consulting Practice partners with client organizations to help them manage the complexities associated with enterprise and operational risk. Our team is comprised of former heads of risk departments within notable financial institutions. With this experience, we provide comprehensive risk consulting services that encompass the entire enterprise and operational areas specific to your institution including interest rate risk, liquidity risk, operational risk, reputational risk, and strategic risk.
Our team assists in creating a practical, scalable, and sustainable risk management framework that will help them identify, assess, monitor, and report on key risks affecting their institutions. Developing a formal risk management program is an iterative process that requires collaboration between the Board of Directors, the Management Team, and all lines of business and support functions to be successful.
Some of the risk management activities we consider when serving our clients include:
- Governance and Organization (including Policies and Standards)
- People, Roles and Responsibilities, and Performance Expectations
- Risk Assessment
- Risk Monitoring (i.e., Risk Metrics)
- Risk Reporting
- Communication and Learning
Scope of DFRC’s Strategic Risk Management Assignments:
The following are the key elements of strategic risk management assignments undertaken by DFRC: –
- Participation in the appropriate Board and Senior Management Committees
- Organizational Recommendations
- Advice on Risk Management Strategies
- Setting Risk and Performance Evaluation Criteria
- Standardizing Methodologies to Measure Risk Management Effectiveness
- Identification of Major Risk Drivers
- Analysis and Recommendations for Performance Metrics
- Analysis and Review of the Appropriate Regulatory Requirements
- Guidance on Implementing Management Reporting
- Development of Appropriate Risk Management Policies and Procedures
- Recommendation for a Risk Management Decision and Evaluation Structure
- Providing Workshops on Practical Aspects of Risk Management Implementation
DFRC RISK CONSULTING COVERAGE
Our risk consulting practice covers a broad spectrum of area such as:
- Risk Management Audit Services
- Risk Policy Development and Review
- Governance, Risk and Compliance (GRC)
- Enterprise Risk Management (ERM) Services
- Business Continuity Management Services
- Accounting Process Controls Assessments
- Entity Level Control Assessments
- Regulatory & Compliance Support
- Internal Audit Assessments
- Audit Committee Corporate Governance Assessments
- Credit Risk Consulting
- Credit Valuation Adjustment (CVA) Consulting
- Collateral Management Consulting
- Basel Regulations Consulting
- Market Risk and Pricing Consulting
- Liquidity Risk and Funding Consulting
- Operational Risk Consulting
