Genpact, Oliver Wyman collaborate to expand portfolio of risk management solutions
New collaboration to deliver integrated risk management consulting and business process management services for financial services sector
NEW YORK, April 24, 2014 – Genpact Limited (NYSE: G), a global leader in transforming and running business processes and operations, and Oliver Wyman, a leading global management consulting firm, today announced a collaboration to design and deliver new risk management solutions to the financial services industry. This collaboration will further expand the suite of offerings that each firm currently provides to this sector.
With a growing importance being placed on not only well-designed, but also well-executed risk management solutions in the financial services sector, this collaboration aims to link the elements of risk management strategy, process design, and process delivery into a comprehensive client solution.
While both firms will continue to independently serve the financial sector with their full suite of risk management offerings, the objective of this collaboration is to provide selected clients with a more integrated and cost effective risk management solution to cope with many of the economic and regulatory challenges the financial services industry is currently facing. This collaboration is intended to provide clients with a comprehensive end-to-end solution that combines the highest quality risk strategy and methodological thinking with world-class operational execution to address issues around risk data governance,data management, model development, risk monitoring, and risk reporting to management and regulators in a consistent and high quality way.
This collaboration is intended to deliver the best of both firms. Oliver Wyman, with its extensive risk management strategy and implementation expertise, will focus on designing and customizing solutions that meet client and regulator needs, while Genpact, a leader in Business Process Management (BPM) and risk analytics solutions, will focus on the cost effective delivery and operation of those solutions.The joint offering will provide:
- Greater speed of execution as clients move from design, to implementation, to ongoing operations
- Reduced execution risk through the early engagement of BPM services
- Better knowledge transfer and collaboration between the solution design and delivery teams
- Increased flexibility for clients to scale projects up and down in response to internal and regulatory demands
- Better access to talent across the globe
Genpact provides an integrated end-to-end approach for market and credit risk management, transaction monitoring, and operational risk solutions. Genpact’s Banking and Financial Services solutions combine process expertise based on Genpact’s Smart Enterprise Processes (SEPSM) framework with technology solutions, consulting and analytical insights.
Oliver Wyman has been a pioneer in designing, developing, and delivering financial services risk management advice and solutions for over 25 years. Its 3,000+ professionals based in 25 countries around the world help clients optimize their businesses, improve their operations and risk profile, and upgrade their organizational performance to seize the most attractive business opportunities.
Sasha Sanyal, Senior Vice President, Strategy and Partnerships, at Genpact: “Risk is one of the critical areas identified as part of our blueprint for growth. We are very excited to be working with Oliver Wyman, an established leader in this domain. A combination of their strategy and domain capabilities coupled with our risk analytics and execution capabilities will create a value proposition for our clients which will be tough to replicate”.
Nick Studer, Managing Partner of Oliver Wyman’s Financial Services Practice: “This is an exciting collaboration for us. Genpact has been a leader in combining the power of technology, analytics, and business process redesign, and we are delighted to collaborate with them to shape the next generation service offering in the design and implementation of risk management solutions”.
Genpact Limited (NYSE: G) is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – 64,000+ employees in 24 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. Follow Genpact on Twitter, Facebook, and LinkedIn.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 50+ cities across 25 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm's 3,000 professionals help clients optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. Follow Genpact on www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
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For more information:
Jay Thorne (For Genpact PR)
+ 1 212-880-5251
Joanna Timmermann (For Genpact Europe)
Jung Kim (Oliver Wyman Americas PR)
Arina Shen (Oliver Wyman APR PR)
Shahla Haque (Oliver Wyman EMEA PR)
+44 (0)207 852 7381