Deloitte announced that ALM Intelligence has ranked it as a global leader in the report, entitled "Strategic Risk Consulting 2018." Naima Hoque Essing, senior analyst, management consulting research at ALM, highlights, "Deloitte effectively incorporates the risk agenda into executive-level decision making by providing tangible and actionable advice on how to respond and prepare for different risk types from adopting proper stewardship around controllable internal risk to creating value from evolving technology, socioeconomic and geopolitical megatrends."

"It's no longer enough to mitigate the downside of risk. Organizations must play to win by both seizing the opportunity that risk creates while also protecting value and safeguarding reputation," said Chuck Saia, CEO of Deloitte Risk and Financial Advisory, Deloitte & Touche LLP. "We are proud to be recognized for our tireless commitment to helping our clients manage risk to drive performance."

The report lays out the opportunities and challenges for strategic risk consulting providers focusing on market trends, client spending trends and forecasts and the provider landscape. It also includes selected companies.

According to ALM, strategic risk consulting is defined as services that "identify and manage risks that could prevent the fulfillment of a company's value proposition."

"As we continue to evaluate new demands on our clients, risk profiles are being shaped in unexpected ways and include all risks that can jeopardize long-term sustainable business success and potentially cause brand and reputation damage. This encourages and requires new thinking around leading practices to manage risk," added Chris Ruggeri, principal with Deloitte Risk and Financial Advisory, Deloitte Transactions and Business Analytics LLP, Strategic Risk & Reputation Management. "By elevating risk management to a strategic conversation, we aim to help our clients create more resilient and confident businesses that are positioned for growth."

Additional findings

• "Deloitte is advancing its perspective away from viewing risk in discrete, named categories to one that views them as a hyper-connected and interrelated web of risk exposures where the traditional ERM approach and its three lines of defense model is largely inadequate. Instead, it advocates an approach focused on providing boards with real time, on demand internal and external risk insights that allows them to provide proper oversight as well as make risk-informed strategic decisions."
• "Deloitte combines its experience in strategy, industry, risk and regulation with advanced analytic capabilities to provide insights that enable the board to explore alternative strategic pathways involving a large number of interdependent macroeconomic and market variables."
• "Deloitte offers numerous proprietary diagnostic and management support tools through a wide variety of delivery models to meet client specific needs."
• "It is adept at collaboratively working with a broad ecosystem of its own, client and third-party solution vendors to aggregate dispersed and disparate data to deliver a unified view of client risk exposures through tailored dashboards that bring relevant insights to specific users."
• "Deloitte seeks to draw out the strategic value of risk management by using it to make decisions that improve customer loyalty, operational resilience, and capital and portfolio planning. It seeks to use risk management to improve leadership confidence in making decisions in a complex and hyper-connected environment by enhancing the awareness and understanding of the explicit strategic, financial and operational impact of risk in the evaluation of new or emerging opportunities or threats."
• "Deloitte's Risk and Financial Advisory practice offers a comprehensive and interrelated suite of services organized around strategy & reputation, operations, financial, regulation and cyber risks that are aimed at creating risk intelligent organizations."
• "Deloitte seeks to elevate and embed risk management into the strategic planning process in two ways. The first is by translating the work of functional risk managers into the strategic and financial language that resonates with the board and senior management. The second is to stay ahead of emerging threats through vigilant monitoring. The [organization] accomplishes both largely by leveraging the client's existing structures and utilizing digital technologies to connect internal and external data sources and present them in a visually impactful way to the board. Depending on client maturity level, it may also involve establishing or strengthening governance frameworks and management systems to drive operational effectiveness, efficiency and sustainability."
• "Deloitte offers numerous proprietary diagnostic and management support tools through a wide variety of service delivery models to meet client specific needs. The [organization] offers a proprietary 24/7 data monitoring and risk-sensing solutions that track a broad range of internal and external data sources and use advanced analytical, pattern recognition, and visualization technologies to alert clients of emerging issues and threats, adding human insights on how they relate to client strategies. Deloitte also offers clients Blab and LRA by Deloitte, services that measure stakeholder perception and customer experience across products, locations, touchpoints and deliver the results to management via live dashboards."
• "The [organization] also advocates crisis preparedness and business continuity planning to prepare and be able to respond appropriately to crisis events."

About Deloitte

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