NEW YORK, Nov. 9, 2015 /PRNewswire/ -- EY announced today that it was named "Consultancy of the Year" by Operational Risk & Regulation magazine for its excellence in operational risk management, regulation and risk management services. This is the fifth time EY has received this recognition.
"Understanding operational risk is critical for our clients. We are here to help them add value by looking across the firm, front-to-back office to identify hand-off points and dependencies to identify potential weaknesses," said Dan McKinney, Partner, Ernst & Young LLP and Operational Risk solution leader. "With regulation in this area increasing, our global teams are helping clients roll out supportive, internal frameworks and then use the data collected from those frameworks to drive better risk management decisions."
McKinney also noted that with regulatory scrutiny increasing, the operational risk agenda has gained prominence and expanded greatly. Ernst & Young LLP's risk practice, including the firm's Operational Risk Management (ORM) team, provides operational and related risk services to financial institutions as they continue to develop enhance and implement all aspects of their risk agenda.
"We are honored by this recognition of our risk management services and innovative thinking," said Peter Davis, Principal and Financial Services Risk Leader, Ernst & Young LLP. "Supporting our clients' enhanced risk management practices and improving performance continues to be a core EY focus."
The firm's ORM team includes risk, business, analytics, regulatory, technology and data professionals. By combining the team member skill-sets, the firm is better able to integrate risk management services and address changing regulatory requirements quickly and efficiently for clients.
The EY approach supplements core operational risk issues with enterprise-wide risk initiatives, including conduct risk, risk culture, risk governance, controls, vendor risk, cybersecurity as well as governance, risk and controls (GRC) enablement.
The Operational Risk & Regulation Awards aim to recognize companies and individuals that have demonstrated innovative thinking and provided useful solutions to the operational risk challenges faced by the financial industry in addition to excellence in operational risk management across the financial sector.
The complete award results can be found online and in the November 2015 print issue of Operational Risk & Regulation magazine.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the 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. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.