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At Corporate Financial Management we are knowledgeable in all areas of public sector consulting including auditing, business/management consulting, and insurance and risk management. Our practice areas include:
- Performance audits – programs, vendors, contractors, and division operations
- Utility auditing support services
- Insurance claims and vendor performance
Representative assignments in this field include:
- Conducted claims audit of third party administrators, identifying deviations from policy and recommending changes in operating procedures improving efficiencies and critical time outcomes.
- Identified medical providers using redundant services which increased medical claims costs.
- Audited regulated utility’s diversity programs for compliance with stated goals; recommended alternatives to improve performance against industry benchmarks.
- Performance assessment
- Functional reviews and benchmarking
- Process improvement
- Strategic and operational planning
- Financial management
In the past we have worked with clients on such projects as:
- Analyzed financial division’s effectiveness across functional areas and developed plan for improving responsiveness and communications.
- Workers’ compensation
- Claims management process reviews
- Risk management program reviews
- Cost of risk analyses
- Broker, agent, reinsurer, and service provider reviews
Examples of our work in this area include the following assignments:
- Conducted enterprise risk assessment, developing risk management policy statement which delineated responsibilities and designated accountability for safety, incident reporting, claims management, and risk financing to specific units within a diverse organization.
- Developed financial reporting template for key insurance variables used by staff in periodic reports.
- Directed the renewal of client’s insurance and reinsurance programs; organized and streamlined underwriting submissions, summarized broker coverage proposals, and recommended most cost effective alternatives to meet internal financial and operational goals.
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