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West Monroe Recognized in Forrester's Risk Consulting Landscape

West Monroe, an AI-native global consulting firm, has recently been acknowledged as a Notable Provider in the Risk Consulting Services Landscape report for Q3 2026 by Forrester Research. This recognition underscores West Monroe’s pioneering approach to integrating risk expertise across various business functions, positioning itself as a leader in the management of organizational risk.

According to the report, which evaluates the risk consulting services market, West Monroe's primary focus spans financial services and insurance, healthcare, and utilities. By analyzing providers based on their size, geographic reach, industry specializations, and business scenarios, Forrester provides a valuable resource for leaders seeking effective risk consultancy options.

The transformation of risk management is significantly shaped by the advancements in artificial intelligence (AI). Today, organizations are changing how they identify and monitor risks, design controls, and make strategic decisions. Concurrently, there is an uptick in regulatory changes and technological advancements, creating heightened expectations for risk functions to not only keep pace but also deliver tangible business value.

Dan Belmont, Managing Partner of Client Strategy at West Monroe, elaborated on the firm’s unique perspective, stating, "Managing risk effectively requires more than simply having expertise in risk. The challenges our clients encounter are rarely confined to a single function; they intersect various areas of business, technology, operations, and regulation. Thus, integrating these perspectives empowers organizations to transition from mere risk identification to actionable solutions that are contextually relevant to their respective industries."

Distinctive in its operations, West Monroe incorporates risk expertise within its industry and functional teams rather than treating risk as an isolated practice. This industry-led model merges sector-specific knowledge with capabilities in business, technology, regulatory aspects, and operations, applying a unified enterprise risk methodology while customizing solutions to suit each sector’s unique challenges and regulatory requirements.

The firm has taken significant strides in multiple areas:

Financial Services and Insurance

Among the notable transformations, West Monroe addresses issues like regulatory compliance, financial crime risks, and enterprise risk management. For a prominent regional commercial bank, they revamped Know Your Customer (KYC) practices, successfully reducing unnecessary client interactions by 43% while enhancing identification for over 50 high-risk client categories.

Healthcare

In the healthcare sector, the firm focuses on data privacy risks and operational resilience. Recent initiatives for a private equity-backed healthcare provider resulted in bolstering cyber resilience across more than 2,000 endpoints within a mere 12-week timeframe, securing over 1,000 workstations and eliminating over 90 unauthorized applications.

Utilities

For utility companies, West Monroe's expertise includes regulatory risk management and infrastructure modernization. A notable project for a national utility involved implementing automated isolation procedures, improving the response time to cyberattacks by 90% across more than 60 critical processes.

West Monroe’s methodology also emphasizes the crucial connection between risk strategy and its application. The consultancy extends its services to facilitate clients in moving from risk identification to actionable frameworks—designing controls, implementing relevant technology, transforming operating models, and integrating risk into major initiatives. Its work spans various critical areas, such as:

• - Risk Advisory: Crafting enterprise risk frameworks, interpreting regulations, and conducting risk assessments.
• - Risk Transformation: Operationalizing regulatory remediation, designing controls, and deploying platforms for governance, risk, and compliance (GRC).
• - Embedded Risk: Supporting mergers and acquisitions (M&A) readiness, fortifying cybersecurity resilience, and modernizing operations through integrated risk controls.

This practical orientation reflects a notable trend within the risk consultancy market. As highlighted in Forrester's report, clients increasingly desire organizations to help implement recommendations rather than solely assess results and outcomes, leading to intensified demand for firms with robust technology and implementation capabilities.

For further insights into West Monroe's integrated approach to risk and compliance, visit their website at westmonroe.com.

It’s important to note that Forrester does not endorse any specific company, product, or service within its research publications and urges clients to make informed decisions based on comprehensive evaluations. As the landscape of risk consulting continues to evolve, West Monroe’s commitment to innovation and execution exemplifies its leading position in the industry.