Tuesday Tips: Identify the Risks
Tuesday Tips
At Essential Edge, we see compliance as essential to the securities business — empowering clients to confidently separate strong opportunities from potential challenges.
To give you an overview of our process, we’ve created this 6-part series identifying each of the steps we take to help you ensure that your firm remains compliant, while doing the best business possible. Let’s start off with Identifying the risks.
Step 1: Identify the Risks
Knowledge is power — especially when it comes to risk!
The first step in a strong risk assessment process is simply knowing what you’re up against. At Essential Edge, we help financial services firms shine a light on potential risks before they become real problems with an eye on the following.
✅ Regular workplace & project site inspections
✅ Reviewing past incidents & reports
✅ Consulting employees and key stakeholders
✅ Examining existing systems and controls
✅ Factoring in external conditions like regulations and the economy
Whether it’s physical, investment, operational, or business risks — you can’t manage what you haven’t identified.
What’s one risk your organization uncovered that surprised you? Drop it in the comments — let’s learn from each other!
Ian Lumsden brings more than 30 years of industry experience to his role as a Branch Examiner at Essential Edge Compliance Outsourcing Services. To learn more about our services and our team, please visit us at www.eeoutsourcing.com.
