Joseph Tarantino, President & CEO
The future is uncertain, unpredictable, and unsettling, more than ever.
At Protiviti, the folks beg to differ. They believe they can face the future with confidence and empower their customers with the same vision. Keeping up with the technology advance, evolving business models, ad ever-changing regulations and economic situations, the company is drawing on a world that is more connected than ever, turning risks into opportunities and leading organisations with the right perspective and expertise.
At the core, Protiviti is global internal audit, risk, business and consulting firm that helps organisations navigate in a world with a sea of changes. It stands to reason that 70 percent of the Fortune 100 companies have turned to Protiviti to define those changes on the horizon into opportunities for their businesses. Backed by innovative thinkers who have deep expertise in technology, finance, digital transformation, business process, managed solutions, internal audit, transactions, and risk and compliance, Protiviti has evolved into a global consulting firm that enables organisations to spring into action and seize the opportunities of this rapidly transforming world.
In doing so, Protiviti is well-positioned as a consulting firm that is aligned with your way of thinking. Powered by global collaboration and shaped to match clients' needs everywhere, Protiviti specialises in risk management and compliance and focuses on enabling future innovation. As a solid risk management and compliance consulting partner, the company ensures that clients can identify and
mitigate challenges and risks today and tomorrow. In doing so, Protiviti brings in a unique approach and unparalleled collaboration with organisations globally to help clients across diverse industries optimise their resources and design risk management and compliance programs. Protiviti ensures that these programs are specially devised to align with clients’ needs and are significantly efficient and tech-enabled to eliminate risk in all facets of operations. “It’s difficult to imagine a more critical time for the organisations to focus on sound corporate governance and culture as the global business environment continues to be challenged by the pandemic, economic volatility and racial and social justice issues. Strong governance practices can serve to help boards provide oversight and mitigate their business and financial risks and ensure their operational resilience,” says Joseph Tarantino, president and CEO, Protiviti.
To begin with, the expert risk management and compliance consultants at Protiviti equips organisations with agile risk management by aligning and integrating key risk and performance indicators to business objectives. These consults work in close collaboration with the clients’ teams to build a culture that allows factoring in risk across all phases of product development. Followed by the consulting for optimising use of resources and enabling innovation, the team provides organisations with proactive risk management and compliance solutions powered by technology and data analytics.
When it comes anti-money laundering (AML) compliance, Protiviti steps in to assess, design, enhance, and maintain relevant AML and financial crime compliance programs that facilitate meeting stringent regulatory expectations. Credit risk and review form the soul of the offering, allowing organisations to manage and cover various risks pertaining credit and liquidity.
Over a year into the COVID-19 pandemic, people still struggle to understand their personal risk of contracting or transmitting the virus in a given place and time
This is done through thorough assessment, followed by designing, and implementing efficient and effective credit risk operations and capabilities that permeate the entire credit lifecycle. In essence, Protiviti also fosters a “Lead with a risk-informed approach” that measures the impact of risk on strategy and is integrated with business planning and execution.
Next in the line of solutions is the operational risk management. Protiviti stands on the belief that risk and operational excellence are two sides of the same coin. Evidently, addressing both the aspects simultaneously with a strategic approach brings in agility and optimal performance. The Protiviti consultants design and manage an operational risk program focused on driving customer satisfaction, growth, and effective risk management. From the compliance risk management and remediation perspective, the company stays abreast of the ever-changing regulations and accordingly develops, implements and maintains effective regulatory compliance programs. Lastly, Protiviti also specialises in model risk consulting, which involves empowering clients with highly customised quantitative models, refinement and calibration of existing models, and designing stress testing and scenario analysis programs to supplement existing analytics. These model risk advisory services allows leaders to make informed business decisions, fortify business strategies and accomplish regulatory compliance.
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The benefits that Protiviti brings to the table can be best explained through a customer success story that involved a global healthcare organisation. The client invested in Protiviti’s expertise to improve compliance program effectiveness and request interim leadership and staffing. Protiviti rose to the challenge and elevated the maturity of the global compliance function through targeted improvements to people, processes and technology. Protiviti identified high-priority improvement recommendations to improve credit and risk management. The company also introduced various strategic, structural and procedural, talent management and training, and technology improvements. Within a year, the client experienced numerous tangible benefits, including improvements in the monitoring of compliance by identifying and eliminating gaps in adherence to relevant rules and regulations, enabling seamless communication protocols that strengthened the relationship between the compliance and legal functions, and more. The results were impressive as the audit conducted by an external regulatory agency was completed quickly, without requiring a single corrective action.
“When our organisation needed interim compliance department leadership, the first thought of both management and the board’s audit and compliance committee members was of our partner, Protiviti. Protiviti was not only able to quickly evaluate the scope and effectiveness of our compliance department’s oversight, but was also able to very quickly fill identified gaps with appropriately experienced compliance personnel. The best practices and methodical approach to compliance risk identification and management implemented by Protiviti have continued to be a hallmark of our program, long after the end of the engagement,” says the Chief Administrative Officer at the healthcare organisation.
Scripting similar success stories, Protiviti has empowered numerous organisations with a clear understanding of what rises to the level of a compliance priority. With over 7,000 staff members and a vast network of 85 member firms across 25 countries, Protiviti continues to redefine consulting with agile collaboration. In a world that’s evolving like never before, Protiviti is an indispensable consulting partner that delivers with greater impact.