Financial institutions have always faced tremendous risks that are constantly changing and can have devastating affects if not properly managed. Today’s financial services institution faces even greater challenges as they deal with historic regulatory reform, increased oversight, and negative public perceptions caused by highly publicized corporate scandals and failures. Firms that vary in size, complexity and resource availability are struggling to keep up with these new and existing challenges and have turned to Allegiance Advisory Group (AAG) for innovative and cost effective solutions.

AAG’s Risk Advisory & Solutions (RA&S) practice offers services to help firms understand and manage its risks; comply with applicable rules and regulations;independently assess a company, business line or process; and transform ideas into executable tasks and results. By using proven methodologies and tools, and leveraging technologies with our clients’ existing software and infrastructure, RA&S delivers custom solutions that meet its clients’ needs and cost expectations.

RA&S provides co-source or outsource solutions in the following practice areas:

Risk Management Solutions:

RA&S leverages proven methodologies, proprietary application and custom programming capabilities to develop risk management programs that help clients efficiently identify, assess, mitigate and monitor risk. RA&S can support its clients in each or all phases of the risk management cycle depicted to the right and further illustrated in the subsequent paragraph.

Engagements begin with thorough planning which includes an understanding of the client’s need(s) and clear definition of the scope of the project. Next, risks are identified through industry experts and RA&S’s comprehensive risk inventory. Each risk is rated using a multifactor model with flexibility to add or remove factors based on the client’s preference and needs. Subsequent to understanding the risks that an organization must manage, mitigating controls are identified and assessed to reasonably ensure that risks are reduced to acceptable levels. Finally, RA&S designs and implements solutions to remediate any issues identified, and efficiently and effectively oversee risks and controls over time.

Compliance Solutions:

RA&S considers compliance risk management to be a subset of enterprise risk management. As such, compliance programs are designed and implemented leveraging the same proven methodologies, proprietary application and custom programming that RA&S uses to develop risk management programs.

RA&S begins an engagement by understanding the client’s business in order to identify applicable rules and regulations, or compliance risks. Each compliance risk is rated using a multifactor model with flexibility to add or remove factors based on the client’s preference and needs. Subsequent to understanding the rules and regulations that an organization must comply with, mitigating controls are identified and assessed to reasonably ensure that compliance risks are reduced to acceptable levels. Finally, RA&S designs and implements solutions to remediate any issues identified, and efficiently and effectively oversee risks and controls over time.

Internal Audit:

RA&S provides independent assessments of companies, business lines, or processes for senior management, the Board of Directors, the Audit Committee, or other key stakeholders in the form of internal audits that adhere to standards by the Institute of Internal Auditors.

RA&S provides co-source or outsource internal audit solutions that vary based on the client’s preference, resource availability, or complexity. As such, audits are risk-based and tailored to meet the specific needs of our clients.