Risk Management

Clients, regulators, and the board of directors are laser focused on risk management and operational controls.  Formal enterprise risk management is an essential oversight function for all firms in the financial services sector. Typically, larger firms have more structured risk management and control protocols; however, smaller firms tend to have less formal risk and control verification programs. Smaller firms can benefit from implementing formal risk management and control validation programs.

For smaller firms, The CFOR Risk Assessment Service can help formalize your risk management program by documenting current risks, inherent risks, remediating controls, and residual risks to provide management a clear view of the overall operations risk profile. Additionally, CFOR can establish a formal annual review and reporting protocol for risk management.  For larger firms, CFOR can partner with your enterprise risk team as a force multiplier to assist in the execution of your firms’ risk protocol. 

For smaller firms, The CFOR Control Assessment Service can establish a formal control environment. CFOR will inventory current controls, document objectives, verify evidence of the controls, assess effectiveness, and make recommendations to enhance controls. Additionally, CFOR can establish a formal annual control review and reporting protocol. For larger firms, CFOR can partner with your operations and internal audit teams as a force multiplier to assist in the verification of your firms’ control environment.