Managing Risk is in embedded THROUGHOUT our services
Strategic Risk - It's Today's Reality
Today's reality is that change is the new constant. Managing risk effectively has always been a touchstone of the most successful companies. But in today’s risk-filled business environment, it can be hard for executives to have confidence that their plans and strategies will play out as expected. A big reason is that strategic risks – those that either affect or are created by business strategy decisions – can strike more quickly than ever before. Companies that fall behind on the innovation curve may quickly fall prey to innovation’s evil twin – disruption. That is just one of the reasons managing strategic risk has become a high priority for many executives.
Business leaders are faced with many challenges. With multiple stakeholders across many lines of business, the challenge to meet every demand and request cannot be viewed lightly. These leaders cannot address this constant change with traditional tools and techniques. That is where Paracon's advanced analytics and knowledge automation solutions provide you the roadmap to success. Deployment of analytics throughout the operational lifecycle is important to the ongoing success of the organization. Expertool allows the C-suite to understand the key options and trade-offs present in the current environment and provides the ability to simulate the future state before any changes. It's not about just selecting a tool but also the robust forward thinking methodology that Paracon deploys.
Risk Sensing and Enterprise risk management
Most companies want to get ahead of known and unknown risks. Traditional risk management programs can often be reactive, slow and biased resulting in many risks going unmonitored and unmitigated until it is too late. Powered by EXPERTOOL, Paracon has developed a line of sight into emerging risks and opportunities. Our solution has the capability to capture management’s mindset from internal documentation and data. It is optimized for modeling abstract, complex and systemic scenarios which enables discovery of unknown or not clearly defined issues and requirements. That's unique and eye opening for our clients.
Bringing non-traditional solutions to the Internal Audit profession.
The profession of Internal Audit is continually evolving to meet the demands of various stakeholders. There is always the pressure of doing more with less. At Paracon Group, we believe that this is a great opportunity to assess where Internal Audit can bring the most value. We provide a wide range of services for your organization's internal audit group from staffing and expertise through advanced analytics and knowledge automation.
Our clients who have made the progressive move using Paracon's services have won innovation awards at major organizations, provided forensic expertise where the large consultancies and Big 4 couldn't and even positioned themselves and their group to be called upon for major corporate strategic initiatives in their organization. Isn't that where you want to be? Contact us if you want to learn more about how your internal audit group can evolve.
Internal Audit Transformation
By utilizing our Knowledge Engineering solutions, Paracon can help you optimize a number of key drivers of cost and inefficiency. Our Program & Planning Optimization is structured to assist both the most senior management and supervisory staff in performing their planning and risk management activities. Task Consolidation and Analytics Automation will finally allow your team to dig deep within your data to uncover the hidden relationships and issues that cannot be found with more traditional audit procedures or even those well known analytic tools.
Holistic Audit, Compliance and Modeling
Paracon's ability to break down information silos and bridge the chasm between structured, unstructured and financial data is unique in the marketplace. Expertool will allow you to see across the information highway and holistically bring a different view to your audit and compliance processes.
A Different Way to Think About Compliance
Paracon can help companies with their SOX or other compliance needs as well as guide Audit Committees and senior management with establishing and evaluating appropriate corporate governance. Many of our clients have gone down the traditional audit routes only to find little to no savings. Our ability to identify synergies within the data to reduce the regulatory testing burden faced by many organization is without equal. We find what others can’t.
Reliance on business partners for compliance leaves your business vulnerable and your profits at risk. Our solutions prove that our tagline - A partner by your side - is not merely words but actionable. At Paracon we believe that a business partner should provide iterative solutions where every member works on the team creating a holistic risk and compliance framework while connection real ROI to the project. Expertool allows us to dive deep to see the intersection of people, process and technology and uncover problems where others might miss them.
A unique solution to architect and maintain effective project management programs. We know you can't predict the future, but we will help you navigate it.
It's not about the typical project management software because nearly all project management tasks are performed by the knowledge experts. Our solution is to capture and synthesize project plans, risk guidance and most importantly the expertise from the project participants into our knowledge engineering platform. Once captured, we produce the results to determine the significant risk parameters and paths. These applied results are now part of a project expertise application that gives you controls over requirements and activities tailored to your organization and implementation methods.
Model Risk Validation
Organizations across industries have been using models in key business decision making, for risk management, and for financial and accounting purposes. The use and complexity of these models continues to increase with the ever-changing market and business conditions, resulting in increased model risk.
Financial services firms use complex models to manage and hedge financial portfolios. Large corporate treasuries use complex models to manage their debt, derivative, and foreign currency positions. Middle market companies use critically important, and sometimes home-grown, models to forecast cash and funding needs. The use of models irrespective of the size and complexity of the model can introduce a new problem – model risk. As companies have learned, without periodic validation and proper oversight, the tools used to measure risk may themselves become an unintended source of risk.
Policy and Procedure Rationalization and Support
With operational and regulatory landscape changes, the need to understand and rationalize the inter-connectivity of all of these expertise bases is increasing important. Corporate Governance and the recent changes in the COSO requirements also add to the uncertainty that organizations face today.
Paracon's solution provides you the ability to
- Identify gaps in policies and procedures
- Fill high priority gaps
- Deliver SME tools to streamline and, where feasible, automate ongoing internal activities to:
- Rationalize content across policy domains
- Improve quality and usability of procedures
- Ensure consistent application of core competencies that drive competitive advantage
Improve Decision Quality
- Improve Decision Making
- Understanding the business climate
- Quantifying the business value of good spending decisions
- Understanding the decision issues facing executives
SOX Co-Sourcing or Outsourcing
Disaster Recovery Assessment
Accounting Policies and Assessment
Recruitment & Placement Services