New Podcast: Risk Assessments – Keeping Your Firm Focused
Our March 25th episode of Oyster Stew features Oyster CEO Buddy Doyle and Polly Cordle, Managing Director of Oyster Solutions Software, discussing the importance of risk assessments, especially in today’s volatile financial situation. Included are best practices for creating and maintaining risk assessments, regulatory reporting around risk, and how Oyster Solutions Software makes maintaining and reporting risk assessments easy.
Understanding the risk of your organization is the key prioritizing your controls. A comprehensive risk assessment will help determine how and when to implement the processes that prevent or detect risk. The current regulatory environment places significant emphasis on customizing certain aspects of your compliance program based on the risks associated with your business model. For example, FINRA has given guidance that Risk-based Exams are the expected protocol for their member organizations. A formal risk assessment allows for the compliance and supervision efforts to be more targeted to the higher-risk issues, protecting the firm as well as the investors.
Oyster’s depth and breadth of industry experience provides significant insight when assessing risk. Oyster consultants combine their knowledge to provide a unique point of view of operations, trading, technology, finance and regulation. In addition to identifying and ranking the risks associated with the types of business at your firm, Oyster will provide recommendations for policy and procedural enhancements to achieve industry best practices for efficiently controlling those risks.
For more information about Risk Assessments or how Oyster can help your firm, call (804) 965-5400 or click here to request a complimentary consultation.