What are Professional and Advisory Services?
Professional services firms exist in many different industries. They include lawyers, technology experts, process experts, advertising professionals, architects, accountants, financial advisers, engineers, and consultants. In truth, they can be any organization or profession that offers highly customized, knowledge-based services to clients.
CastleHill Managed Risk Solutions has deep experience in Enterprise Risk Management (ERM), both from a business and technology perspective. We are experts in creating, improving and executing ERM systems (in multiple business areas) that generate real value for our clients.
How do Professional and Advisory Services benefit me?
Adopting Professional and Advisory Services is highly regarded as an efficient way to stay up to date on technology, have access to specialized skills and backgrounds, enjoy significant continuity of resources, and address a range of issues related to cost, quality of service and risk.
What industry verticals and risk management domains are you most aligned to?
We are primarily focused on financial services, insurance, healthcare, pharma, higher education and media delivery. Because “enterprise risk” implies all risk areas in an organization, it’s easier to break down the domain answer by saying internal & external / business & technology. However, because that’s not a helpful description, a few examples would be unified systems that include the following components:
Third-party (vendor) risk management (TPRM), regulation and standards management, document management, incident management, issue management, policy and procedure management, risk assessment and control structures, enterprise integration, risk reporting and business intelligence.
Do you respond to RFPs?
Yes, when we feel the project description is a good fit for our areas of expertise.
Do Professional and Advisory Services teams work onsite or remotely?
The answer is both, depending on the nature of the work being performed. The majority of our consultants work remotely with several onsite visits as the work demands. However, we also have engagements where a small team may be onsite more than 80% of the time.
How are your professional and advisory services teams structured? Is it a senior resource with junior resources learning and performing under the group manager?
No. All CastleHill consultants have an average of 13 years professional experience, and act as Subject Matter Experts in two or more specialized domains. We do not hire junior resources** (on Professional and Advisory Services teams) due to the need for fast, accurate delivery of targeted solutions. Many companies (the “Big 4” for example) necessarily need to hire junior resources in order to moderate blended hourly rates, thus diminishing the impact of costs associated with (very expensive) principal and senior level consultants. Although this is generally accepted in the industry, because CastleHill rates are already cost effective across the board, we do not have a need to dilute our invoices. So, no junior resources.
**CastleHill is a big believer in mentoring and professional development. We do have excellent interns and junior resources aligned to GRC as a Service as well as some managed services and implementation/integration functions. Some of our best people have developed through those service offerings!