What is Risk Analytics and Why Is It Important?
Contributor: Sam Halaby, Risk Data & Analytics Lead, Risk & Accounting Advisory Services
We are launching a new series in our Risk & Accounting Advisory podcast, called Risk In Review, where we cover risk topics in a five-question format. Episodes will include topics like Sarbanes-Oxley compliance, IT, Enterprise Risk Management, Financial Services Consulting and more.
We begin this episode’s conversation by defining what is risk analytics, before tackling how organizations can increase value to certain departmental functions and discover its importance in driving better decision making, monitoring internal controls, gaining insights into transaction behavior, and increasing test coverage.
We also explore costs associated with integrating risk analytics into business processes, as well as drawing alignment with available resources, tools, and skillsets to help achieve results.
Finally, this Risk In Review podcast covers a success story that explains how good risk analytics shapes a company, providing strategies for more streamlined operations and powerful, timely decision-making.
Cherry Bekaert’s Risk Advisory practice is focused on helping our clients protect value, power performance, and build resilience with mature internal controls. We do this by leveraging technology to mitigate financial, operational, and compliance risks using purpose-built risk management solutions that cost effectively diagnose, mitigate, and monitor risk.