Insight

Source Global Research: Perceptions of Risk Firms 2022

According to clients and prospects, KPMG ranked number one in multiple categories

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Fiona Grandi
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Fiona Grandi

Risk Services Leader, KPMG US

Emily Frolick
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Emily Frolick

US Leader, The Trusted Imperative, KPMG US

+1 513-763-2453

KPMG ranks number one in multiple Risk categories including: quality of risk transformation, first choice risk advisory firm to work with, and most authoritative risk advisory firm in the 2022 Source Global Research report, Perceptions of Risk firms.

Source Global Research Risk Client Perceptions has ranked KPMG LLP in the number one position across more than half of the categories.

In this client perceptions report, Source Global Research aims to provide a current snapshot of the consulting market by surveying 300 clients and prospects in the US and comparing the data to their global market sizing and trends data. Survey participants represented a wide range of sectors, with 83% working in companies with over $500M in revenue.

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About the report

Source Global Research received 300 responses from our survey of executives, directors, and senior managers in the US undertaken in May to June 2022, all of whom have been responsible for buying substantial volumes of risk advisory services in the past two years.  All respondents were asked to identify the top three firms they’re familiar with, giving SGR 900 responses about different firms.  They represent a wide range of sectors and business functions, and 80% work in organizations that generate more than $500m in revenue.

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KPMG ranked No. 1 across multiple categories in Source Global Research’s report, Perceptions of Risk Firms in 2022.

KPMG was ranked No. 1 in Source’s annual global survey of end users of consulting services. Source’s customers include every single one of the world’s biggest 20 consulting firms and is the leading provider of research, data, and strategic advice about the global management consulting industry.

Risk Transformation – a breath of fresh air for the CRO agenda

Chief Risk Officers (CROs) are currently operating in a challenging macroeconomic environment that is, among other factors, characterized by geopolitical unrest, escalating climate risks, and the constant pressure of new regulatory requirements. This further emphasizes the need for CROs to implement and maintain a robust and effective risk management function.

CROs and the Risk function are also facing significant cost pressure, which means that the activities of the Risk function need to be organized as efficiently as possible.

In 2021, KPMG conducted its CRO benchmark analysis. More than 50 banks worldwide participated in a risk survey on their organization. The objective was to examine the Risk function’s resource endowment, the allocation of activities, and contribution to their overall efficiency. In addition to the quantitative data collection, further discussions were held with CROs and other key decision-makers. The results have been used to help CROs with advancing their Risk function.

The following whitepaper brings together the key insights from the CRO benchmark analysis presented in nine focus areas.

Risk Transformation – a breath of fresh air for the CRO agenda
Nine focus areas to further enhance the Risk function

Client spotlight | How a financial institution became Trusted in risk management

A global investment bank was seeking to establish new risk functions and run global regulatory transformation engagements as part of a transformation program to establish India as the key change hub. 

As a part of this multi-year strategic initiative for both Change The Bank (CTB) and Run The Bank (RTB) programs, KPMG brought expertise to achieve long term cost and time benefits in the fields of regulatory implementation, capital markets process transformation, and regulatory transformation projects. 

KPMG developed tailored delivery models for the client’s risk functions, informed by industry benchmarked solutions. Peer benchmarking informed the approaches developed to support the transition of the finance, risk, and regulatory reporting activities.

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