Ropes & Gray Announces New Comprehensive Suite of Risk Assessment and Advisory Services
Ropes & Gray today announced the launch of its Risk Mitigation & Management Model, a comprehensive suite of risk assessment and advisory services that offers an efficient, harmonized approach for mitigating complex risks. By evaluating risk across the entire enterprise, Ropes & Gray’s Risk Mitigation & Management Model enables organizations to identify, monitor, and mitigate or eliminate risks across an organization, with a focus on:
“Sophisticated enterprises encounter an ever-increasing and constantly changing spectrum of risks as they expand lines of business, enter new geographic markets and grow by acquisitions,” said David Chapin, managing partner, Ropes & Gray. “Our approach provides a holistic legal and regulatory assessment of threats across industries and geographies, empowering enterprises to identify unseen trouble spots and mitigate exposure to business critical operations.”
To discover potential risks, Ropes & Gray attorneys from the firm’s global practices interview key stakeholders throughout a company’s operations. The firm analyzes the responses to produce a visualization of risks in key areas, and then makes recommendations that enable management to improve compliance, open communication channels and implement procedures that effectively reduce risk across the organization. This new product expands upon the firm’s critically acclaimed Risk Matrix, recognized as a standout product by Financial Times Innovative Lawyers.
“Risk is hard to measure, and it’s unpredictable and everywhere. Our service is designed to bring order to that chaos and make risk even more manageable,” said Jim Dowden, partner and co-chair of Ropes & Gray’s anti-corruption and international risk practice, who together with multiple-lawyer, cross-practice teams has conducted hundreds of risk assessments for global clients. “The firm’s new risk mitigation and management tools help clients avoid hugely damaging financial and reputational consequences, while also facilitating the implementation and monitoring of best practices.”
The business imperative for assessing risk is made clear in an upcoming report commissioned by Ropes & Gray and produced by Financial Times Remark, “Risky Business: Mitigating Exposure through Comprehensive Risk Management.” The report, to be published on September 18, reveals marked inconsistencies in legal and regulatory readiness; a key finding highlights that 57% of enterprises feel least prepared to deal with regulatory compliance risk.
“The insights identified in our report provide important observations pertaining to legal and regulatory risks across industries and geographies,” said Ryan Rohlfsen, partner in Ropes & Gray’s anti-corruption and international risk practice, who previously served at the U.S. Department of Justice as part of a small group of federal prosecutors responsible for global enforcement of the Foreign Corrupt Practices Act. “Without question, the research identifies opportunities for companies to bolster their risk defenses, particularly as they relate to greater participation in risk management across the entire enterprise. And these findings align perfectly with our comprehensive approach.”