Financial Risk Management

Helping Organizations Transform Business with Comprehensive Financial Risk Management Consulting Services

Our specialized Financial Services Risk Management group is comprised of industry specialists with decades of experience serving community banks and bank holding companies, insurance companies, mortgage companies, thrifts, finance companies and broker-dealers. These consulting professionals have an average of 20 years of experience in the areas of accounting advisory, tax, risk management and information technology/cybersecurity services and have served financial institutions up to $30 billion in total assets.

Contact Our Financial Risk Management Team

What Is Financial Risk Management?

Financial Risk Management is a structured, consistent, and continuous risk management process applied across an entire organization that allows you to proactively identify, assess, and mitigate risks required to achieve corporate and strategic financial and non-financial risk objectives.

“Our focus is in helping financial services providers to transform their business by preparing, adapting, and recovering from business disruptions, as well as aligning to their organization’s strategy and performance goals.”
— Brian Murrow, Firm Managing Partner, Risk & Accounting Advisory Services

What is the Financial Risk Management Process?

Cherry Bekaert’s financial risk management consulting services helps financial services institutions improve decision-making, increase accountability, provide clarity on key organizational risks, and enable risk-based performance measurement with improved controls efficiency.

We utilize an integrated and proprietary Enterprise Risk Management (ERM) framework and methodology that can be applied and customized for the financial services industry and includes peer benchmarking, regulatory expectations, and leading practices.

Our integrated approach is both proactive and holistic to manage risk and designed to enhance value by improving risk culture through the identification, assessment, and management of an organization’s risk portfolio in a cost-effective manner.

Technology and Data Enablement

The financial services industry is transforming for a variety of reasons – Regulatory compliance changes, environmental changes, digitally-driven economic climate, changes in the way customers buy and do business. Cherry Bekaert has strategic alliances with several Governance, Risk, and Compliance (GRC) software providers to assist financial services companies with strategy, documentation, vendor selection, and validation and a proprietary roadmap for implementation.

Enterprise Risk Management Services

• ERM Design & Implementation
• Business Continuity Resiliency
• Risk Strategy, Organization and Governance
• Third-Party Risk Management

Internal Audit Staffing

• Internal Audit Co-Sourcing
• Internal Audit Outsourcing
• Staff Augmentation

Internal Audit Industry Solutions

• SEC Filers
• Financial Services (Banks, Mortgage Servicers, Insurance Companies)

Internal Audit Effectiveness

• Internal Audit Strategy & Planning
• Department Design & Set-up
• Internal Audit Transformation
• Quality Assurance Reviews

Regulatory Compliance

• Risk Assessments
• Risk-Based Compliance Monitoring Programs
• Compliance Training
• Pre-Regulatory Compliance Evaluations

Risk Data Analytics and Infrastructure

Operational and Business Resilience

Responsible Innovation: New and Expanded or Modified Products & Services

Fraud Program Design, Implementation, and Gap Assessments

Cybersecurity for Financial Services

Technical Accounting Advisory Services

Technology and Data Enablement

• Digital Risk
• Data Governance / Management / BCBS 239 RDA implementation

Risk Workshops & Training

• Regulatory exam readiness workshops
• Risk Awareness Training Workshops
• Scenario Analysis and Business Resiliency
• Workshops or Table-Top Exercise Planning and Assistance