Risk Consulting

Essentially, a risk advisor learns about the pressures, risks and opportunities surrounding your specific business and the wider market. Everything from political risk to financial crime is analyzed in the right perspective, showing how it may affect what you do. Research and analysis of critical data is a major element of risk advisory services, but so is deep industry knowledge, as well as the ability to collect and draw insights from complex information. It is essential for organizations hoping to anticipate and mitigate risk and develop risk management strategies in the face of turbulence. You can plan ahead for risk.

The best risk consultants are a trusted advisor, helping you develop risk strategy unique to your industry and specific business goals. We leverage proven methodologies and models built on what we’ve been learning for many decades. Therefore, you have a confident response to the rich, ever-changing variables that affect business around the globe. It’s not just about managing and recuperating the cost of risks, but preventing them from ever happening – and turning them to your advantage to advance profit, capital, and innovation opportunities.

With our assistance, you’re able to:

• Make smarter decisions: Our risk consultants have a deep understanding of the type of risks you may encounter, such as the industry or political risk, based on a significant amount of trend and data analysis. In addition, we are embedded within regions ourselves for even sharper insights. We’ve developed extensive risk mitigation and management strategies, helping our clients plan for unforeseen events.
• Effectively communicate risk goals and strategies: Getting everyone on the same page is crucial for risk management to launch and thrive. We can help you facilitate an ongoing conversation between key stakeholders, so you have buy-in and a shared realistic understanding of the outcomes you are working towards.
• Increase productivity: Many risk departments are being forced to do more with less. Risk consultants can extend your team, scaling up or down with business needs. We also allow you to tap into a pool of highly specialists that may be needed for a specific situation or challenge.
• Improve operations: We can work with you to build proactive business risk management processes and practices, thereby reducing and preventing the chance of business interruption. We conduct a full audit of risk management processes, assessing gaps and streamlining changes. This can reduce compliance risk that could result in fines or criminal charges.

Typically, we look at an enormous range of risk – from enterprise risk management to specialist financial, manufacturing, supply, software, and environmental concerns. Thanks to our size and global reach, Marsh has wide ranging solutions to counter risk at every turn. Yet some of our more persistent areas of attention include:

• Property engineering and loss control
• Valuation services
• Property risk modeling
• Risk quality assessment
• Risk management and claims advocacy
• Casualty risk
• Workforce solutions
• Employee management
• Workers compensation
• Regulation and compliance issues
• Health and safety consulting
• Ergonomics
• Loss prevention and mitigation
• Cybersecurity
• Enterprise risk management
• ESG risk management
• Supply chain
• Business continuity management
• Crisis management
• Claims management
• Captives management

With risk consulting services, you can have peace of mind that your approach to evaluating and managing risk is built upon best practices and proven methodologies – and by specialists who understand your industry and challenges. A risk advisor can make it easier for you to dive further into your risks and use these insights to your advantage. Here are a few of the many potential benefits of risk consulting:

• Make informed decisions: A risk consultant understands the types of risks that can impact your business, studies the latest risk trends and data affecting your industry, and has experience developing mitigation and management strategies and plans. This knowledge puts you in a better position to plan for unforeseen events and advise your business on optimal risk management strategies.
• Effectively communicate risk goals and strategies: Risk management and mitigation starts with conversing about the problem and potential solution. Hiring a risk advisor means getting involved in an ongoing conversation that puts your entire team on the same page and makes it easier to work together to form a solution.
• Increase productivity: Many risk departments are being forced to do more with less. Risk consultants can act as an extension of your team and give you the ability to scale up or down based on your business needs.
• Improve operations: Risk consultants can audit your existing risk management processes, identify inefficiencies, and create plans to streamline them.

Other benefits include meeting compliance requirements, making operational improvements, and more.