Parker Fitzgerald a strategic advisor and consulting partner to the world’s leading financial institutions has been confirmed as Consultancy of the Year at the Operational Risk Europe Awards 2017 held in London last night.
This prestigious award recognises Parker Fitzgerald’s approach to managing operational risk using data-driven predictive analytics to proactively manage technology risk and improve operational resilience.
Scott Vincent, Managing Partner, Parker Fitzgerald said; “We are delighted to accept this award in recognition of the breadth of innovative and targeted consulting interventions that address the emerging issues around operational risk and which have delivered tangible value to our clients. Our staff work with clients to really get under the skin of the issues, and I would like to thank them for their hard work that contributed to this award.”
Helping clients, including Global Tier 1 banks, Parker Fitzgerald’s work on technology risk and on the use of data analytics in risk reporting effectively positioned the firm at the leading edge of deploying technology in the identification and mitigation of operational risk. The firm’s approach to operational risk is predicated on the idea that the traditional approaches and methodologies associated with credit and market risk management are not readily applicable in operational risk.
Mr Vincent continued; “There is a growing case for technology risk to be considered as a risk in and of itself and we think cyber will soon follow. In a sense, there is a risk that tech risk and cyber risk under the operational risk umbrella do not get the attention they deserve. We think that tech and cyber risk carry systemic risk to financial stability.”
The judges of Op Risk Europe noted that Parker Fitzgerald have a track record of delivering market leading solutions which, in turn, deliver sustainable value into their client organisations. It is their depth of experience and the ability to get things done in large, complex financial institutions together with their investment in thought leadership which sets them apart.
This award follows on from the recent opening of Parker Fitzgerald’s North America business and the creation of its technology incubator Parker Fitzgerald Solutions, in direct response to client needs across the banking and capital markets sector for a wider range of services and capabilities.
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