Insurance experts launch new risk & compliance consultancy

24 July 2017 Consultancy.uk

Experts from across the insurance industry have joined forces to launch a new risk and compliance consultancy. Implement Compliance Solutions & Resources was founded earlier this year, to help businesses cope with the changing regulatory and client requirements of Brexit-era Britain.

Being compliant with rules on tax, relationships, safety, along with various EU directives, can be a daunting task for businesses. The rules are often not easy to oversee, with risks from non-compliance potentially leading to fines, or in more severe cases, criminal investigations. As governments crackdown on tax evasion, environmental regulation violations and cybersecurity lapses, changes stemming from Brexit, as well as new rules from the EU – mean that both established and new businesses face a host of risks involving potential litigation.

With businesses facing an increasingly confusing web of red-tape, there is an increasing demand for consulting firms to offer advisory services focusing on assisting organisations in transformation brought about by acquisitions and corporate restructurings, changes in law or regulation or interpretation. Implement Compliance Solutions & Resources (ICSR) was launched earlier in 2017, offering a host of compliance focused advisory services to help groups prepare for a host of new Europe-wide directives, including the Insurance Distribution Directive, which involves among many other changes, the introduction of compulsory training for employees of regulated firms who are involved in distribution and the introduction of EU requirements for managing complaints. In the increasingly uncertain landscape of the UK’s Brexit process, the firm aims to provide clients with compliance expertise, and clarification as to how exactly such laws will affect post-membership business in Britain.

ICSR was launched by 20-year insurance industry veteran Kenneth Underhill, who was formerly a Senior Vice President and General Counsel at Chubb European Group for a period of more than eight years. Earlier in his career he worked at Reynolds Porter Chamberlain, where he was a Partner in its Commercial and Regulatory Group. In his role as Director at ICRS he will focus on advisory, consultancy and resourcing strategy for financial services businesses within the UK.

Insurance experts launch new risk & compliance consultancy

Underhill is joined by John Moffatt, who brings more than 30 years of sector experience to the role. He was most recently the at Senior Compliance Advisor at Atrium Underwriters, and previously worked as the Head of Compliance for the UK and the Rest of World at risk specialists Beazley.

The new firm is focused on various areas of compliance related fields, from governance – such as corporate governance, compliance, legal, risk, audit – to regulatory engagements and interventions – preparing businesses for new consultation papers, thematic reviews, the appointment of a skilled person or other intervention. ICSR will offer services in terms of pure advisory, advisory and implementation, or through internal support mechanism.

Commenting on the launch of ICSR Kenneth Underhill, Director of ICSR said, “Legal and Regulatory requirements within the financial services sector are becoming ever more complex at a time when companies are under increasing pressures impacting their business models and profitability. This is a business for those who seek more than just external advice. It is also for those who want to understand how to implement the advice in a way which matches their control frameworks and business model and may need help doing so. Our business aim is to provide pragmatic advice and support from highly experienced individuals when required at a very competitive price.”

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Robert Park on the launch of his consultancy RWG Enterprises

18 April 2019 Consultancy.uk

Following a lengthy spell as a General Manager at an international materials corporation, Robert Park was keen to rediscover his inner entrepreneur. With the launch of his new consulting firm, RWG Enterprises, Park spoke with Consultancy.uk to outline his hopes for the future of the company, and how he believes his boutique will be able to challenge the market.

Robert Park commenced his career in retail, taking up a string of General Store Manager positions with companies – including Poundstretcher and The Gadget Shop – before making the 2005 move that would lead him to a 13-year stay with Morgan Advanced Materials. First taking up a role as Production Supervisor with the organisation, Park quickly worked his way to the upper echelons of the group. By 2013, he held the role of UK Operations Manager for the company’s UK ceramic core business, Certech UK, before seeing out his final four years at the firm as General Manager, leading the senior management team and strategic direction of the business.

Despite his success with the firm, however, Park found himself getting itchy feet. A change of career seemed increasingly appealing, and by February 2019, the time to take a new path had arrived.

Park explained: “I was losing the ability to to use the entrepreneurial flair that I had enjoyed in the past; the organisation was moving more towards a structured and common approach for doing things, and that made me feel restricted. I also really enjoy the troubleshooting, problem solving side of my role. However, having been in my last post for four years, the troubleshooting and firefighting was long behind me. I realised that I am really energised by tackling difficult issues or turning around things that are clearly struggling.”

New consulting firm RWG Enterprises launches

His criteria for a new career seemed to point conclusively in the direction of management consulting, and while his CV has no formal experience in the sector, Park believes his career to date has provided him with a wealth of transferable skills. During his time with Certech at Morgan Advanced Materials, he became a Senior Manager at the age of just 21, and went on to succeed in a harsh factory environment where six former candidates had previously failed to deliver results.

Later, he became the group’s youngest General Manager in its history, and was involved in the turnaround of numerous departments. He also developed vast experience dealing with a wide range of ‘people’ challenges, including re-organisation, talent development, talent acquisition and leadership development. Along the way, Park noted that he learned to deal with large, blue chip organisations such as Rolls Royce, securing major long-term contracts worth upwards of £25 million.

Now, he hopes to take that know-how and apply it to the diverse world of consulting work. Park elaborated: “I really want to be able to help organisations that feel that there is no hope or have lost faith in the business… Having been there myself I know how helpful it would have been to have someone to refer to in times of crisis… The firm will also focus on leadership development, as I spent a lot of time with the global graduate program during my corporate career… and I was really motivated to see these individuals grow and develop… helping them to find their own way through challenging situations.

New enterprise

Park’s new Derby-based consultancy, RWG Enterprises, will focus on five key operational fronts. As stated, leadership development and business rescue will be two of these areas, as well as manufacturing – where the firm will tackle challenges such as new product introduction. RWG will also offer financial advisory services and strategic business planning offerings.

While Park is understandably guarded about the firm’s initial engagements, he revealed that he has been “speaking at length to a well-known university and business school about providing mentoring and coaching support to students.” In the long-term, the aim is for RWG Enterprises to take on engagements from clients across the industrial spectrum. He added that as “the company is very embryonic”, it would be “foolish” to become too focused on target clients at this stage.

When asked how RWG Enterprises intends to differentiate itself from the rest of the pack, in an ever-more-crowded UK consulting sector, Park is undaunted by the task ahead. He stated, “I think the main differentiator is that we are small... I have operated at a very senior level for many years but I have enjoyed a very diverse background having worked in most functions within my last organisation. I also won’t take on any work or clients that I feel I cannot deliver value for, I am honest and ethical and am really motivated by seeing others become successful… The main thing I am focused on is 'can I add value' and 'can I help?'”