Fraud Risk Services Brochure


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Today all organizations are subject to fraud risks. Large frauds have led to the downfall of entire organizations, massive investment losses, significant legal costs, incarceration of key individuals, and erosion of confidence in capital markets, Consequently as part of an organization’s governance structure, a fraud risk management program should be in place, including a written policy to convey the expectations of the board of directors and senior management regarding managing fraud risk.

Knowing present corporate focus and need for improved fraud risk governance & management, we’re pleased to launch our Fraud Risk Consulting services in addition to our existing bouquet of Risk advisory, Consulting, Training & Human Capital Services.

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  • Thanks for sharing your presentation.

    When we discuss the advantages of having an impartial third-party whistleblowing hotline (slide 14), we would add that it forms a core component of an organisation's 'adequate procedures' to bring them in line with the UK Bribery Ac and other legal framework where they may operate.

    It is also considered 'best practice' globally by many bodies including the Institute of Business Ethics, in the UK.
    Kind regards
    InTouch MCS
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Fraud Risk Services Brochure

  1. 1. Fraud Management- Risk Consulting Services Riskpro India Ventures (P) Limited New Delhi, Mumbai, Bangalore 1
  2. 2. Who is Riskpro… Why us? ABOUT US MISSION Riskpro is an organisation of member firms around India devoted to client service  Provide integrated risk management excellence. Member firms offer wide range consulting services to mid-large sized of services in the field of risk management. corporate /financial institutions in India Currently it has offices in three major cities  Be the preferred service provider for Mumbai, Delhi and Bangalore and alliances complete Governance, Risk and Compliance in other cities. (GRC) solutions. Managed by experienced professionals with experiences spanning various industries. VALUE PROPOSITION DIFFERENTIATORS You get quality advisory, normally delivered by large consulting firms, at fee levels  Risk Management is our main focus charged by independent & small firms  Over 200 years of cumulative experience High quality deliverables  Hybrid Delivery model Multi-skilled & multi-disciplined organisation.  Ability to take on large and complex projects Timely completion of any task due to delivery capabilities Affordable alternative to large firms  We Hold hands, not shake hands. 2
  3. 3. Our Network Presence New Delhi Agra Ahmedabad Kolkata Mumbai Pune Salem Bangalore 3
  4. 4. Fraud Risk Management- Context Setting Business different Effective risk management elements have risks is a collective effort at a associated which needs to organizational level to be identified and action reduce potential threats plan put in place to mitigate and protect bottom lines of and reduce potential loss business occurrence 4
  5. 5. Fraud Occurrence - Conditions  Financial Pressures  Personal Habits (Gambling, Drug, Alcohol)  Work-related Factors (Overworked, Underpaid, Not Promoted)  Achieve Financial Results (Bonus, Compensation)  Insufficient Working Capital, High Debt Level, Credit Difficulties Pressures Fraud Triangle Opportunities $ Rationalization  Poor Internal Controls  I am only borrowing the money and will pay it back  Low Fraud Awareness  Nobody will get hurt  Treat Fraudster With Leniency  The organization treats me unfairly and owes me  Rapid Turnover of Employee  It’s for a good purpose  Use of Many Banks  It’s only temporary, until operations improve  Weak Subordinate Personnel  Absence of Mandatory Vacations 5
  6. 6. Fraud Risk – Diagnostics Process Identify Key Agree on Expectations and Fraud and Deliverables Integrity Risks Source Fraud and Assess Fraud and Integrity Risk Integrity Risks Evaluate and Improve Fraud and Measure Fraud and Integrity Risk Controls Integrity Risks Provide Change Evaluate Existing Management Reject, Transfer and Fraud and Integrity Retain Risks Risk Controls Communicate Results Design Improved Exceed Fraud and Integrity Risk Controls Build Improved Fraud Risk Diagnostic Process is designed to : Controls Into Client Processes - Prevent/Deter/Detect/Investigate Fraud Risk - Reduce Fraud Risk to an acceptable level - Improve your “ Bottom Line” 6
  7. 7. Fraud Risk - Business Services Spectrum Fraud Risk Services Business Fraud Business Fraud Business Fraud Investigation Service Risk Management Hot Line System  Fraud Investigation Service  Fraud Risk Diagnostic  Whistleblower Service  Anti-Money Laundering  Fraud Risk Prevention Service  Intellectual Property Service  Ethics & Anti-Fraud Program  Corporate Intelligence 7
  8. 8. Our ForensicsServices - Process OverviewServices Forensic & Fraud Investigation Life Cycle Business Legal and Fraud Fraud Risk Background Litigation Corporate Investigation Management Intelligence Ethics & Regulatory Verification Support Compliance IntegrityAssessment  Investigation Analysis Reporting Cyber Crime IT Risk Past Records IT Evidence Vital Vendor Diagnostic Verification Collection Information Monitoring Sarbanes Investigation Oxley & Response Collection Organizational Education Business compliance Culture related to Vendor/Third Verification Interruption Party Program Assessment Forensics Claims  Business Analysis & Employment Vendor/3rd Clause 49 Internal IT  Dealers Party SEBI Reporting Verification Control & Risk IPR Disputes Assessment compliance  Franchisees Analysis Forensics & Reference Verification  Distributors Code of Investigation FCPA(Forei Security & Joint Venture Conduct Process  Suppliers gn Corrupt Privacy Program Partnership Design/ & Service Practice Criminal Disputes IT Governance Act) act Implementati Data Loss Providers Verification (COSO/COBIT) USA 1973 on Prevention  Organization Design & to be acquired Implementation Accounting Address Complex Case Anti-Fraud or merged KYC - Fraud Verification Management Measurement Procall Banks Investigation Training & Education 8
  9. 9. Fraud Management- Risk Consulting Components Loss Prevention Risk Intelligence Business Ethics Background Anti-Corruption Whistle Blowing Screening Fraud Risk Vendor Screening Forensics Services Management Investigative Internal Risk Controls Litigation Services Accounting 9
  10. 10. Loss Prevention Industry Alignment Employee Behavior Banking Automotive Financial Services Telecom Insurance Customer Service Real Estate Infrastructure Employee Theft Waste Pharma/ Retail Bio-tech Poor safety practices Energy Securities Bad accounting procedures 10
  11. 11. Risk Intelligence Industry Alignment Geopolitical Banking Financial Services Automotive Surveys Insurance Telecom Risk Profiling Real Estate Infrastructure Criminal Suspect Pharma/ Retail Profiling Bio-tech Investigations Energy Securities 11
  12. 12. Business Ethics Industry Alignment Banking Due Diligence Financial Services Automotive Telecom Insurance Corporate Social Responsibility Real Estate Infrastructure Ethical Assurance Pharma/ Retail Bio-tech Ethical Investing Business Ethics Energy Securities Training 12
  13. 13. Anti-Corruption Industry Alignment Anti-Corruption Compliance & Banking Investigations Automotive Financial Services Telecom Insurance Policy & Procedure Design & Review Real Estate Infrastructure Investigative Due Diligence & Risk Assessment Investigate Allegations of Corruption Pharma/ Retail Bio-tech Compliance with Accounting & Internal Controls Energy Securities International Presence & Capability 13
  14. 14. Whistle Blowing Industry Alignment Management information source Banking Automotive Financial Services Telecom Proactive approach – Establishing , enabling Insurance timely action Reduction in crime perpetrated against the corporation Real Estate Infrastructure Improved Labor relations Pharma/ Loss recovery due to theft, fraud & crimes Retail Bio-tech Awareness Culture creation Energy Securities Caller Information Advisory 14
  15. 15. Background Screening Industry Alignment Banking Employee screening Financial Services Automotive Telecom Insurance Senior executive screening Real Estate Infrastructure Periodic employee screening Pharma/ Retail Bio-tech Substance abuse testing International background Energy Securities screening 15
  16. 16. Vendor Screening Industry Alignment Family & Business history of promoters Banking Automotive Financial Services Telecom Financial Strength of Promoters or the Insurance Vendor Regulatory Compliance History Real Estate Infrastructure Criminal Records verification Pharma/ Market Reputation Retail Bio-tech Reference Checks with other Clients Energy Securities Vendor Due Diligence 16
  17. 17. Forensics Services Industry Alignment Banking Automotive Disputes support Financial Services Telecom Insurance Forensic accounting Real Estate Infrastructure & Analysis Pharma/ Investigations Bio-tech Retail Technology Solutions Energy Securities 17
  18. 18. Fraud Risk Management Industry Alignment Banking Operational Reviews Automotive Financial Services Telecom Insurance Investigative services Real Estate Infrastructure Project Management Training & Awareness Pharma/ Retail Bio-tech Data Analysis Energy Securities Interim Management 18
  19. 19. Internal Risk Controls Industry Alignment Internal Audit strategic sourcing Banking Automotive Financial Services Telecom Insurance Enterprise Risk Management Regulatory compliances (SOX) Real Estate Infrastructure Contract compliance Pharma/ Corporate Governance Retail Bio-tech Continued Monitoring Energy Securities Integrated Assurance 19
  20. 20. Litigation Services Industry Alignment Banking Bankruptcy Litigation Automotive Financial Services Telecom Insurance Commercial Litigation Real Estate Infrastructure Intellectual Property Insurance Claims Pharma/ Retail Bio-tech GAAP related support Energy Securities Computer Forensics 20
  21. 21. Investigative Accounting Industry Alignment Effective controls for fraud Banking detection Automotive Financial Services Telecom Insurance Financial fraud and embezzlement Real Estate Infrastructure Determination of economic damages Financial modeling Pharma/ Retail Bio-tech Determination of change in net worth Energy Securities Insurance claims fraud 21
  22. 22. Fraud Risk - Analysis & Management Risk Analysis Risk Risk Risk Assessment Management Monitoring Process Identification Control It Level Share or Activity Measurement Transfer It Level Diversify or Prioritization Entity Level Avoid It 22
  23. 23. Our Approach  Protects you from any Monetary or Reputation damage  Ensures that the Code of Conduct is Report understood, followed and not violated Resolve  Enables you to identify risks / control gaps Investigate  Helps you identify any undisclosed production Analyze  Risk Mitigation Riskpro  Process Improvement & Reengineering End to End Solutions  Improved Corporate & IT Governance Integrated Financial  Evaluate & Classify Third Party Risk Solutions  Monitor and verify security controls Reasonably priced quality contracted to business vendors services  Mitigation of vendor service delivery risk High Quality Deliverables with experienced professionals 23
  24. 24. Our Risk Consulting - Value Proposition Based on our understanding of your requirements, we have customized a package of our solution offerings to meet your needs. To detect and prevent fraud Our Solution For you and evaluate Code Of Benefits To You Conduct Compliance on following parameters :  Protects you from any  Fraud Detection Monetary or Reputation Resolve damage  Fraudulent Vendor Investigate Prioritize  Recruiting new dealers, solutions and remedial  Code of conduct suppliers, franchisees or Analyze measures Source Root establishment distributors cause of Problem  Anti-Fraud Measures Understanding Your Supply  Enables you to identify Quantify Loss  Monitoring Compliance and Aut Chain and Suggest risks / control gaps possible Actions horization Obtaining And securing Evidence  Helps you identify any  Workplace Practice To Monitor Your undisclosed production  Background check for Process Solve Compliances employees Issues  Risk Mitigation Confidential  Background check for Interviews with vendors customers Evaluating your need  Prevent default of high value bills 24
  25. 25. Riskpro Clients Our Clients*Any trademarks or logos used throughout this presentation are the property of their respective owners 25
  26. 26. Team Experiences Our Experiences Our team members have worked at world class Companies*Any trademarks or logos used throughout this presentation are the property of their respective owners 26
  27. 27. RESUMES – Our team Credentials  Co-Founder - Riskpro  CA, CPA, MBA-Finance (USA), FRM (GARP) Manoj Jain  Over 10 years international experience – 6 years in Bahrain and 4 years USA  15 years exp in risk management consulting and internal audits, Specialization in Operational Risk, Basel II, Sox and Control design  Worked for Ernst & Young (Bahrain), Arab Investment Company (Bahrain), Navigant Consulting(USA), Kotak Mahindra Bank (India) and Credit Suisse(India)  Sox Compliance project for Fannie Mae, USA ( $900+ Billion Mortgage Company)  Co- Founder - Riskpro  CA (India), MBA (Netherlands), CIA (USA) Rahul Bhan  Over 15 years of extensive internal and external audit experience in India and abroad.  Worked with KPMG United Arab Emirates, PKF South Africa, Ernst and Young Kuwait, Deloitte Netherlands and KPMG India.  Worked with clients in a wide variety of industries and countries including trading, retail and consumer goods, NGO, manufacturing and banking and finance. Major clients include banks, investment companies, manufacturing organizations, aviation etc. 27
  28. 28. RESUMES - Our team Credentials  Co-Founder - Riskpro Casper Abraham  PGD (Electrical & Electronics & Computer Programming)  30 years of experience in Information & Communications Technology (ICT) Solutions for Retail, Garments, Manufacturing, Services Industries.  Has created Companies, Divisions, Products, Brands, Teams & Markets.  Consulting in Business, Technology, Marketing & Sales & Strategic Planning.  Advisory, Training, Workshops & Implementation in Systems Thinking, Systems Modeling & Balanced Scorecard  Worked with TIFR, Mahindra, Ambience, Communico-Graphique & Ionidea Inc, USA,  Sr Vice President – Risk Management  MBA, PDFM,NSE-NCFM, PMP, CSSGB,ISO 9001:2000 I.A,GARP-FBR, ITILV3,CPP-BPM Hemant Seigell  Professional with 17 years of rich experience into diverse Consumer finance/ Lending operations ,Risk Management,BPMS, Consumer Banking, NBFC, Management Consulting & Housing finance in BFSI industry having successfully led key business strategic engagements across multi-product environment in APAC, Australia and US regions.  Worked with GE, ABN AMRO Bank, Citigroup, Accenture, Deutsche Postbank  Highly skilled and expert Trainer in Risk areas across Credit, Fraud, Operational, Corporate Risk management.  Specializes in Fraud Control, AML/KYC Compliance ,QA ,ERM and Regulatory governance. 28
  29. 29. RESUMES - Our team Credentials  Head - Insurance Risk Advisory services , Associate of Indian Institute of Insurance Licensed Category A Insurance surveyor R. Gupta   26 years of experience in Insurance advisory services, Loss adjusting for large corporates,Claims management.  Has assessed more than 4500 high value insurance claims across various industry sectors.  Risk management inspection  Valuations of fixed assets for insurance purpose.  Head - Human Capital Management Nilesh Bhatia  Chartered Accountant, Lead Assessor ISO 9000, Six Sigma Trained, Trained on Situational Leadership, Trained on interviewing skills and Whole Message Model.  Over two decades of international, multi-cultural experience in finance and human resources viz. internal audit, accounting operations, accounting process review & re-designing, risk management, business solutioning, six sigma projects, talent acquisition, talent retention, organization design/redesigning, compensation and appraisal processing, employee and customer satisfaction surveys, knowledge management and finance services.  Worked with Citicorp/MGF, India Glycol, Delphi, American Express India, American Express USA, Fidelity International and Macquarie Global Finance Services India. 29
  30. 30. RESUMES - Our team Credentials  Co-founder- Riskpro B.Com, FCA Rajesh Jhalani   Senior Partner with 48 year old Delhi based Chartered Accountant firm, Mehrotra and Mehrotra  Over 19 years of experience in the field of Audit, Taxation, Company law matters.  Major clients served are NTPC, BHEL, Bank of India, PNB, Airport Authority of India etc.  Specialist Risk Consultant – ERP & IT Compliance  SAP Certified, MBA (Finance), SAP Security trained (from SAP India), SAP GRC Access Gourav Ladha Controls trained (from SAP India)  Over 7 years of experience working in the area of ERP/IT Risk advisory, primarily focusing on SAP, for ‘Fortune 500’ clients in around 8 countries including US, UK, UAE, Hong Kong, etc  Specializes in SAP Risk & Controls Advisory, SAP Business Process Controls Audit, SAP Security & Segregation of Duties Control Audit, ERP Trainings,  Strong Industry experiences ranging from Beverages, Insurance, Energy, FMCG, Pharmaceutical, Retail, Telecommunication to IT Services  Worked for risk advisory teams of reputed organizations like Ernst & Young, EXL Services 30
  31. 31. RESUMES - PARTNERSHIPS Credentials Consultant – Information Security & IT Governance  LLB, CA, CISA, CWA, CS, CFE and others Anjay Agarwal  Over 15 years of experience in the field of Audit, Taxation, Investigations.  Specializing in the field of Systems Audit, Cybrex Audit, Computer Crime Investigations, IS Forensics  International Committee Member of Governmental and Regulatory Agencies Board and Academic Relations Committee of ISACA, USA  Consultant – Quality Management  Founder of PMG, a TQM Consulting Co in Delhi Piyush Kumar  Mechanical Engineer  20+years experience in TQM concepts.  Strong skill set in various productivity & quality improvement projects including Six Sigma offerings  Past experiences include reputed organizations like Andersen Consulting, Eicher Consulting & Nathan & Nathan consultants 31
  32. 32. RESUMES - PARTNERSHIPS  Specialist Risk Consultant – Business ContinuityAndrew Hiles  Founder and 15-year Chairman of Survive, the first international user group for Business Continuity professionals  Founding director and first Fellow of the Business Continuity Institute  Over 25 years international consulting expertise in Risk, Crisis, Emergency, Incident, and Business Continuity and ICT Disaster Recovery Management  Multi-sector experience including Banking, Insurance, Finance, Oil, Gas, Energy, Manufacturing, Retail, Hi-Tech & Telecom  Western Press Award for services to business, 1994; BCI/CIR nomination for lifetime achievement in BC, 1999, London; inducted into BC Hall of Fame by CPM magazine, 2004, Washington DC.  Specialist Risk Consultant – Enterprise Risk ManagementChris E. Mandel  Highly skilled risk and insurance professional with 25 years of experience designing, developing and implementing large, global corporate risk management programs for Fortune 500 firms.  Principal Consultant and Founder - Excellence in Risk Management, LLC. (Texas, USA) Co- founder and EVP, Professional Services, rPM3 Solutions, LLC (Maryland, USA).  Past experiences include Head of Global Risk Management for USAA, PepsiCo/Tricon Global and American National Red Cross  Additional risk and insurance experience at Verizon Corp,. Marsh USA and Liberty Mutual Insurance Co.  2004 Risk Manager of the Year – 2007 recipient of the Alexander Hamilton Award for “Excellence in ERM” (at USAA) – former President, Risk and Insurance Management Society, Inc. 32
  33. 33. Key Contacts Corporate Mumbai Delhi Bangalore Riskpro India Manoj Jain Rahul Bhan Casper Abraham Ventures (P) Limited Director Director Director M- 98337 67114 M- 99680 05042 M- 98450 61870 Sivaramakrishnan Hemant Seigell Principal – Banking & FS SVP – Risk Management C 561, Defence colony M- 98690 19311 M- 99536 97905 New Delhi 110024 Ahmedabad Pune Kolkata Gurgaon Maulik Manakiwala M.L. Jain Kashi Banerjee Nilesh Bhatia Associate Firm Principal – Strategy Risk EVP – Risk Management Head – Human Capital Mgt. M - 91 9825640046 M- 9822011987 M- 98304 75375 M- 98182 93434 Gourav Ladha Sap Risk Advisory M- 97129 52955 Salem Ghaziabad Agra Chandrasekeran R Gupta Alok Kumar Agarwal Recruitment franchisee Head – Insurance Risk Associate Firm M - 91 9443599132 M- 98101 07387 M- 99971 65253Copyright- ©© 2012 RiskPro ,India .All rights reserved. Copyright- 2012 RiskPro ,India .All rights reserved. 33