Our Expertise

Our comprehensive risk and internal audit solutions will:

• Train board directors, executives and employees on compliance issues
• Establish a risk management culture that adapts quickly to changes in the risk profile or regulations
• Reveal hidden weaknesses in internal controls or policy
• Create a robust reporting structure to monitor compliance and detect potential problems early
•  Assess internal controls to provide "heat maps" of vulnerability
• Prepare for regulatory compliance: Sarbanes Oxley Act 404, FDICIA reporting, Gramm-Leach- Bliley Act and Basel II
• Advise on Basel II requirements
• Provide SAS 70 services
• Perform IT audits, governance and security
• Provide Business Continuity Plans (BCP)
• Advise on Internal Audit Services
• Perform internal audit review and advisory services
• Serve as your “outsourced” internal audit function
• Perform Quality Assurance Reviews (QAR) as required by the IIA every 5 years
• Provide Gap analysis and advice on industry best practices

• Offer Audit Committee advisory services

 

ERM Consulting Case Studies
“The FDIC Compliance Examination Process”

“Sarbanes-Oxley 404 Compliance”

Risk Consulting Services

As regulatory oversight proliferates and public and shareholder scrutiny intensifies, the task of enterprise risk management has become increasingly complex. Many leaders of small to mid-sized businesses face the same problem: even if they knew exactly what to do to better manage risk, they lack the resources and people to get it done.  Our consultants have extensive experience working with insurance companies, banks, public companies, private companies and non-profit companies.  

When your compliance and risk management needs outpace your internal capabilities, Global Atlantic partners can bridge the gap by providing people and know-how to help you identify, monitor and control risks. We can help you to:

Enhance Corporate Governance
A strong Corporate Governance framework will help your organization reduce risks, identify gaps and take measures to close them to deliver improved corporate performance.  It is critical for senior management to set the “tone at the top” and demonstrates the commitment of the organization.  The rating agencies, such as Fitch, are evaluating Corporate Governance based upon Board independence and effectiveness, the integrity of the audit process and performance based management compensation.  By implementing solutions to strengthen overall corporate governance procedures, you will be able to retain talented employees of the company at all levels and reduce your cost of capital to achieve the greatest value to your stakeholders.

Ensure Regulatory Compliance
The key to regulatory compliance is knowledge and tools. Our risk management consultants are impressively knowledgeable and have decades of personal experience managing compliance issues. We can also provide an extraordinary software tool called Methodware that can assist in the constant monitoring of risk indicators.

Create formal Enterprise Risk Management processes

A sound risk management process provides early warning so you can act to avoid potential risk. We utilize the COSO Internal Control-Integrated Framework.  Our process involves four primary tasks:

Conduct a risk management audit - Our team of experienced financial consultants thoroughly analyzes your organization's risk structure. We identify potential risks to generate a clear and thorough understanding of a product or service and its legal, financial, fiscal and operational implications.

Develop a risk management concept and Key Risk Indicators - After identifying your potential risks, we develop a risk management concept tailored to your organization's needs, identify Key Risk Indicators and set up control procedures.

Implement a risk management structure - Our executive team implements the risk management structure in your organization and works side by side with you toward its effective completion. We continue to support you through the initial restructuring and assist you in ironing out any transitional issues that may arise.

Train risk management "champions" - Finally, after ensuring that you are completely satisfied with you risk management structure, we train your managers to be risk management experts and help to set up clearly defined cascading requirements to avoid overload.

Perform Internal Audit Services
Internal Audit’s function is to be a proactive and constructive service to management independently reviewing operations and evaluating the effectiveness of controls.  Internal audit has become a “continuous process”.  Our services run the full spectrum of either helping Internal Audit Directors assemble specific skills by working with GAP consultants to meet the requirements of their internal audit plan or outsourcing the company’s internal audit function to GAP to utilize our internal audit methodology completely or in conjunction with your existing methodology as the framework to build, execute and track a risk based internal audit plan.

Manage Technology Risks
Technology is imbedded in every organization and requires proper risk controls to retain and manage company information.  Sound IT governance practices will help you to do a better job of maximizing the return on your technology investments.

Helpful resources

Here are several important and helpful links to enterprise risk management resources.

The Committee of Sponsoring Organizations of the Treadway Commission

Voluntary private sector organization dedicated to improving the quality of financial reporting. Publications include Internal Control - Integrated Framework and Enterprise Risk Management - Integrated Framework, used by many companies for compliance with Section 404 of the Sarbanes-Oxley Act of 2002.
www.coso.org

Institute of Internal Auditors

Global voice and advocate for the internal audit profession.
www.theiia.org

Public Company Accounting Oversight Board

Private-sector, non-profit corporation, created by the Sarbanes-Oxley Act of 2002 to oversee the auditors of public companies.
www.pcaobus.org

SEC rules and requirements to implement Sarbanes-Oxley

www.sec.gov/rules/final/33-8238.htm

SEC rules and requirements to implement Sarbanes-Oxley

www.sec.gov/rules/final/33-8238.htm

National Association of Insurance Commissioners
Provides assistance to state insurance regulators to protect the public interest and promote competitive markets.
www.naic.org

Massachusetts Division of Insurance
State insurance agency with the responsibility of monitoring the solvency of its licensees to promote a healthy marketplace for consumers.
www.mass.gov

Insurance Accounting and Systems Association
Non-profit educational insurance trade association.
www.iasa.org

Massachusetts Society of CPA’s
State’s premier professional organization of CPA’s and accounting professionals.
www.mscpaonline.org

Society of Financial Services Professionals
Society members have earned the required professional credentials in the financial services industry. 
www.financialpro.org