Ernst & Young LLP Named Top Consulting Firm for Financial Services Organizations by Operational Risk & Regulation for Third Straight Year

NEW YORK, Jan. 13, 2012 /PRNewswire/ -- Ernst & Young LLP announced today that it has been named the overall winner of Operational Risk & Regulation's annual consultancy rankings for the third consecutive year, and placed first in seven of the 13 risk and regulatory consultant service categories. The first place category rankings included:

• Anti-Money Laundering
• Basel II/III
• Corporate Governance
• Enterprise-wide Compliance and Risk Management Strategy
• Fraud/Financial Crime Prevention
• Regulation Strategy
• Treating Customers Fairly

"This industry recognition is a reflection of Ernst & Young's deep, global bench of financial services consultants who continue to put the client at the center of everything they do," said Hank Prybylski, Americas Financial Services Advisory Leader and Global Financial Services Risk Management Leader, Ernst & Young LLP. "As the complexities and uncertainties of today's economic environment evolve, we will continue to invest in our ability to provide a comprehensive understanding of the key risk, regulatory, operational and technology issues affecting the asset management, banking and capital markets, and insurance industries. In doing so, we will remain on the forefront, ready to assist our clients in managing and growing their businesses."

Prybylski noted that, while regulatory compliance and risk management will remain one of the highest priorities for all financial services organizations, the industry's global footprint presents new challenges for senior executives to navigate. Financial firms that are better able to understand these intricacies and adapt business models will have a significant competitive advantage in the marketplace.

"Despite the regulatory uncertainty that continues worldwide, we have witnessed a shift in clients' needs as they adjust from a defensive response and compliance footing to a more strategic position, with an understanding of how required investments in operations will help better run the business," Prybylski added. "It's a direction that creates new requirements for consultants. These include not only the skills to help with technical compliance, but the ability to provide insight into evolving regulations, the impact on operations and data and IT demands. We believe that our talent and services uniquely position us to properly assist in developing the business intelligence needed to adapt to the demands of today's financial services markets."   

To view the full Operational Risk & Regulations consultancy rankings, please visit: http://www.ey.com/US/en/Industries/Financial-Services

Ernst & Young is a leader in serving the global financial services marketplace

Nearly 35,000 Ernst & Young financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients. In the Americas, Ernst & Young is the only public accounting organization with a separate business unit dedicated to the financial services marketplace. Created in 2000, the Americas Financial Services Office practices today include more than 4,000 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.

Ernst & Young professionals in our financial services practices worldwide align with key global industry groups, including Ernst & Young's Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners cover many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.

With a global presence and industry-focused advice, Ernst & Young's financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology, to financial services companies worldwide.

It's how Ernst & Young makes a difference.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by Ernst & Young LLP, a US client-serving member firm of Ernst & Young Global Limited.

For more information, please visit www.ey.com.

SOURCE Ernst & Young LLP