Failure to identify and manage risk has been the root cause of the major failures of financial firms and, indeed, sectors of the financial services markets. That is why it is high on the regulator’s agenda and why stress testing is so frequently applied to different scenarios.

Whilst it might be thought that the larger the business, the greater the risk, this is not automatically the case, and every firm must be aware of its risks.  As a result, every aspect of a firm’s business demands root and branch analysis of the risks occasioned by that business, ranging from internal failure of personnel and systems to counterparty failure to systemic market failures.

Senior management has responsibility for the identification and management of risk. All business decisions need to be supported by risk analysis.

Risk cannot be completely avoided, but senior management must understand the risks, establish the level that the firm is prepared to undertake and ensure that it has the resources to handle them.

How can CCL help?

With many years practitioner experience, CCL can:

  • provide an objective assessment of your Firm’s risks
  • advise on the risks that your Firm faces and their potential impact on your business
  • work with your on a Risk Mitigation Programme (RMP)
  • work with you to develop your Risk Map
  • review and, where necessary, create Risk management policies and procedures in line with your business activities 

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.