The need to focus, prepare and react to risks and regulations remains high
PwC rated as a Vanguard Leader by ALM Intelligence
ALM Intelligence*, the leading consulting research and advisory firm, rates PwC as a Vanguard Leader in their new report ‘Financial Risk & Controls Advisory 2016.'
According to ALM the finance office is not the lonely, secluded place it used to be. Its control systems are now linked to control processes and mechanisms throughout the client organisation, including financial risk. The narrow confines of risk in contracts, liquidity, credit and debt exposure, currency exchange, inflation, interest rates, regulatory enforcement, securitisation, general market volatility, and structured finance has become intertwined with broader enterprise risk. Internal auditors are being pushed into other areas of client organisations, and Financial Risk & Controls (FR&C) professionals are being asked to contribute to companywide issues such as cybersecurity.
The competitive edge in the Financial Risk Advisory (FRA) space goes to firms that not only have mastered financial risks, but are also able to integrate them into a broader enterprise risk framework, while additionally anchoring them in increasingly narrow fields of domain expertise.
The report highlights that “PwC has long enjoyed a very strong standing on both sides of the FR&C aisle, and has strengthened those capabilities in FRA with its already solid risk assurance practice and its Diamond-legacy analytics capabilities. After some years of large acquisitions across analytics, operations, and strategy consulting, they have successfully digested and integrated those new capabilities into an important service offering in FRA that is focused on risk resiliency.”
The report goes onto say that in this Vanguard, the firms that bring together solid offerings in compliance, risk, specialty areas such as IA, and in external capabilities such as process, analytics, and perhaps less recognised talent and change management appear to be the winners.
“PwC is in the lead in this Vanguard for all the reasons listed above, and because of its strong service focus on internal auditing (including strong thought leadership in that area). PwC’s adherence to the risk resilience approach and its strong analytics capabilities make the firm a key player on the controls side, and one uniquely positioned to help clients elevate the controls discussion to broader risk and compliance strategy.”
*ALM Intelligence, formerly Kennedy Consulting Research & Advisory.
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