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RISK MANAGEMENT SERVICES

WHAT IS RISK MANAGEMENT?

According to Wikipedia, Risk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These risks stem from a variety of sources including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.

A successful risk management program helps an organization consider the full range of risks it faces. Risk management also examines the relationship between risks and the cascading impact they could have on an organization’s strategic goals.

 

WHY IS RISK MANAGEMENT IMPORTANT?

Risk management has perhaps never been more important than it is now. The risks modern organizations face has grown more complex, fueled by the rapid pace of globalization. New risks are constantly emerging, often related to and generated by the now-pervasive use of digital technology. Climate change has been dubbed a “threat multiplier” by risk experts.

A recent external risk that manifested itself as a supply chain issue at many companies — the coronavirus pandemic, quickly evolved into an existential threat, affecting the health and safety of their employees, the means of doing business, the ability to interact with customers and corporate reputations.

Businesses made rapid adjustments to the threats posed by the pandemic. But, going forward they are grappling with novel risks, including how or whether to bring employees back to the office and what should be done to make their supply chains less vulnerable to crises.

Every organization should ensure that appropriate measures are put in place so that once it get hit by an uncertainty, the risk management services would cushion the effect.

 

WHO WE ARE?

Business Cardinal member firms offer a broad ranging financial risk management service. We help international banks, insurance companies, asset managers and corporate and public clients identify, assess, manage, report and limit the risks they face.

Financial institutions are finding themselves in a fundamentally altered risk and regulatory environment, trying to navigate a new competitive landscape with evolving business models. As a leading provider of integrated risk management and regulatory services, we can help you tackle the numerous challenges of risk management.

Global concerns about financial risk have been increasing. In this climate, enterprises of all kinds and sizes want robust financial risk management frameworks that satisfy compliance demands, contribute to better decision making and enhance performance.

Business Cardinal’s Financial Risk Management professionals work with financial institutions and other corporate clients to attain these objectives.

In our member firms’ work with clients we highlight concerns and help improve processes, governance and strategy across a range of matters, including:

  • Credit risk measurement and management
  • Operational risk measurement and management
  • Market and liquidity risks
  • Economic capital management
  • Capital adequacy & regulatory services
  • Actuarial services & financial statement support
  • Commodity & energy risk management
  • Financial instruments accounting
  • Insurance risk assessment
  • Basel and solvency transformation
  • Quantitative evaluation and management of portfolio risks
  • Financial engineering
  • Risk management in transactions
  • Finance and treasury management and transformation
  • Asset management advisory

AREAS OF RISKS EXPERTISE WE CAN AID YOU IN

Our key areas of expertise are:

  • Enterprise Risk Management and Risk Culture:

We help clients develop risk-management capabilities to support their strategic priorities, so they can protect the value of the company while growing the business profitably. Our integrated perspective on enterprise-wide risk enables us to support not only the chief risk officer (CRO) or CFO but the entire management team, including the CEO and other business leaders.

 

  • Credit Risk:

 We help financial institutions manage risk along the entire credit value chain, addressing challenges and opportunities related to origination and underwriting, credit-portfolio management, loss mitigation, credit modeling, and advanced analytics. In the last three years, we have completed more than 400 projects that maximized value and mitigated losses in our clients’ credit portfolios.

The Credit Risk team provides leading services focused on assisting in credit risk identification, measurement, management and reporting

  • Risk and Regulation:

We work with banks, insurers, regulators, and governments to quantify and address the operational and strategic impact of regulatory changes as well as to prepare for the implementation of new regulation

  • Market and Trading Risk:

We help companies create and preserve value by providing advice and analytics on managing market-risk exposures, selecting hedging strategies, and capturing market and trading opportunities.

 

  • Enterprise risk

The Enterprise Risk Consulting Services team assists with the creation, enhancement, implementation and review of integrated frameworks for the identification, measurement, mitigation and monitoring of risks from all sources.

 

  • Liquidity risk

The Treasury and Liquidity Risk group provides strategic recommendations to identify, measure and manage liquidity risk, helping organizations to comply with regulatory expectations and enhance their position in an evolving competitive landscape.

  • Operational risk

The Operations Risk Consulting Services team assists with the creation, enhancement, implementation and review of operational risk frameworks.

  • Compliance risk

The Regulatory Compliance team assists with the design of effective, flexible and robust compliance programs to address unique business, regulatory, risk tolerance, technology and operational model requirements.

In addition, our Financial Crimes Compliance professionals design, implement and operate Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Office of Foreign Assets Control (OFAC) sanctions functions. We offer market-leading innovation combined with extensive technical experience to help drive efficiency without sacrificing quality or sound risk management.

  • Capital management

The Capital Management team offers services to help you anticipate and adapt to regulatory changes and assess their impacts on your business models and capital needs.

  • Market risk

The Traded Products & Capital Markets Market Risk team’s areas of focus include financial risk identification, measurement, mitigation, monitoring and reporting of exposures to interest rate, commodity, equity and foreign exchange movements.

  • Structured finance

The Structured Finance Consulting Services team participates in the domestic and global structured finance market and assists in the execution of structured finance deals from beginning to end.

  • Quantitative services

The Quantitative Consulting Services team applies quantitative techniques to help institutions develop and validate risk measurement and valuation methodologies

If you are experiencing these problems, then your risk management processes, tools and systems are likely not up to the task of being useful and helpful. Clients we work with on these problems come to recognize that:

  1. Risk management is more than “issues tracking”
  2. Risk management is a key project management process and must be integrated into the planning and execution of the project
  3. Risk management, like project management can be continuously improved to bring substantial benefits to the organization and the customer, but it takes management commitment to make it happen and to instill it in projects so that all may benefit from it

Clients who address risk management as an integral way of doing business see gains in these areas:

  1. Improved investment decision making and project selection
  2. Better cost, schedule, and performance estimates
  3. Improved customer relations and reputation
  4. Improve team communications and morale

WHAT WE DO?

We bring deep risk management expertise and breakthrough impact to the world’s leading financial institutions and government agencies.

Globally and locally in Nigeria, our team of partners and consultants is dedicated to creating impact for our clients and helping them to confront their biggest challenges, both today and for the future. We support clients in developing strategies, governance, methodologies, processes, change management initiatives and infrastructure to measure and manage the risks they face.

We offer the following risk management services:

  • RISK STRATEGY, ORGANIZATION AND GOVERNANCE

We support strategic priorities and emerging risk agendas, including the development of governance processes and controls needed to manage risk effectively.

 

  • OPERATIONAL AND CYBER RESILIENCE

We ensure our clients place resilience at the center of building their business and help clients prevent, respond to, recover, and learn from operational and technological disruptions.

 

  • DIGITAL RISK

We help clients keep pace with digitalization and develop and implement innovative methodologies for quantifying and mitigating the risks they face.

  • REGULATORY COMPLIANCE

We work with Chief Compliance Officers and other senior Compliance executives of leading corporations to deliver results in strategy and target operating model definition, organizational transformation and project execution.

  • ANTI-FINANCIAL CRIME COMPLIANCE

We help clients develop comprehensive and effective anti-financial crime programs, designing controls to manage the reputational and conduct-related risk exposures.

 

  • RISK DATA AND INFRASTRUCTURE

We overhaul data collection, risk infrastructure and processes to ensure our clients have well-governed data available in real-time, and fit-for-purpose risk systems architecture.

 

  • EMERGING RISK IDENTIFICATION AND QUANTIFICATION, (INCLUDING CLIMATE FINANCE)

We anticipate and identify emerging risks and respond to shifts in the economic cycle. Our team develops data and analytics strategies to provide firms with insights into risk exposures, including climate-related risks and opportunities.

 

  • HEALTH CHECK

Undertaking a high-level gap analysis of your current capital and enterprise risk management arrangements against regulatory expectations and industry best practice.

  • REVIEW AND RECOMMEND

Undertaking independent bespoke reviews of your current arrangements against regulatory expectations and industry best practice to identify opportunities for improvements to processes, procedures and controls.

  • POLICIES AND FRAMEWORK

Reviewing or documenting policies, procedures and controls.

  • COMPLIANCE MONITORING AND INTERNAL AUDIT

Designing, implementing and/or reviewing internal monitoring arrangements in relation to capital and enterprise risk managemen

  • 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 MODELING

Building and validating financial risk models and their governance.

  • RECOVERY AND RESOLUTION

Reviewing the firm’s recovery and resolution plans and assisting with approach and analysis.

  • CONSOLIDATED SUPERVISION

Advising on the structure of consolidation groups and the regulatory implications.

 

Other risk management services include:

  • On-site surveys and other risk assessments with accompanying loss prevention reports.
  • Annual loss prevention summaries with benchmarking evaluations.
  • Management briefings on risk management findings.
  • Risk management involvement in large claims handling, and loss reports for major property claims.
  • Risk management project reviews.
  • Providing training for our clients.
  • Professional advice and consultative services on a daily basis.
  • Information sharing as regards learning from losses, industry loss drivers, emerging risks and loss prevention solutions.

 

WHY YOU SHOULD HIRE US?

Our clients continue to prepare for and implement a range of new regulatory requirements, whilst having to navigate the uncertain macro-economic environment and structural change affecting the industry. You should hire Business Cardinal for your risk management services because:

  • We work with the full spectrum of financial service firms, from start-ups and challenger banks, through to some of the largest global financial institutions in the world.
  • We partner with clients to drive change agendas and support them in meeting the range of new rules imposed by national and international regulators.
  • We also provide independent assurance that firms are regulatory compliant or are adequately prepared for upcoming change.
  • Our team comprises experienced industry practitioners, offering a wealth of expertise
  • We support not only financial services firms, but are also increasingly seeing demand for state-of-the-art treasury and risk management practices from corporate clients
  • Over 50 Financial Risk Management professionals strategically positioned in Nigeria at our disposal
  • A network with offices in over 7 cities in Nigeria
  • Access to the resources of one of the world’s leading professional advisory organizations.

CLIENTS SERVED

We have provided the best practices and risk management services to the following clients

  • Start-ups
  • Non-profit organizations
  • Family owned businesses
  • Public/government organizations
  • Private businesses

INDUSTRY SERVED

  • Manufacturers
  • Service Providers
  • ICT
  • Mining
  • Oil & Gas
  • Government agencies
  • Health Care
  • Finance & Insurance
  • Real Estate
  • Professional & Technical Services
  • Utilities
  • Entertainment
  • Market
  • Construction
  • Power
  • Agriculture
  • Transport
  • Trade: Import & Exports

 

Many of our clients are large multinational organizations demanding high quality standards from their risk management operations and insurance partners.

Business Cardinal has extensive knowledge and experience of handling large and complex risks. This enables us to support your day-to-day risk management work and help you meet your business goals and requirements.

We have set high standards for ourselves in regard to providing highly competent risk management teams and risk management services for the benefit of our clients. We are able to serve you globally and locally. You have access to the full range of our risk management services, regardless of where your business is located

If you would love to engage us for this service, please call us on 08023200801 or request us to send you a proposal by email to hello@businesscardinal.com or complete our customer enquiry form for more details.

 

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