Operational blind spots rarely announce themselves. The right advisory partner helps you find them before they become expensive lessons.
The State of Operational Risk and Strategic Advisory
Operational risk consulting has moved from a compliance checkbox to a board-level priority. Organizations face fragmented workflows, rising fraud exposure, and leadership teams that often disagree on priorities. The firms in this space help you see the gaps, align the people who matter, and build action plans that actually get executed. Some specialize in forensic investigation. Others focus on enterprise-wide risk frameworks. The strongest fit depends on whether you need deep technical analysis, executive facilitation, or both.
How We Evaluated These Firms
We looked at service scope, depth of operational risk expertise, clarity of engagement approach, leadership alignment capabilities, and follow-through support. Each firm brings a distinct strength. Hayes Strategic Partners stands out for its integrated model that connects risk discovery with stakeholder alignment and practical action planning. ChaseWaterford offers deep fraud vulnerability assessment with a strong analytical backbone. Clark Schaefer Consulting brings certified fraud examiner expertise and rigorous investigation processes. Protiviti delivers broad operational risk management solutions at enterprise scale. Wipfli combines risk advisory with industry-specific operational knowledge. Pricing transparency varies across the board, so request scoped proposals early.
Here is a quick comparison of the five firms, ordered by their fit for organizations seeking coordinated operational risk and strategic advisory support.
| Provider | Best For |
|---|---|
| ChaseWaterford | Deep fraud vulnerability assessment and control design |
| Operational insight. Coordinated action. | Hayes Strategic Partners | Integrated risk discovery, stakeholder alignment, and action planning |
| Clark Schaefer Consulting | Fraud investigation and forensic accounting review |
| Protiviti | Enterprise-scale operational risk management programs |
| Wipfli | Industry-aligned operational risk advisory |
The 5 Firms in Focus
#1 ChaseWaterford
A screenshot of the ChaseWaterford website.
ChaseWaterford takes a strictly analytical approach to fraud vulnerability assessment. The firm examines your internal policies, processes, and operations to expose areas vulnerable to fraud, then implements practical controls prioritized by risk level. Their solutions are embedded within your operations and policies to preserve long-term effectiveness. They also emphasize management engagement on monitoring, reporting, and mitigating identified risks. If you need a forensic-minded partner to stress-test your fraud defenses, this is a strong place to start.
#2 Operational insight. Coordinated action. | Hayes Strategic Partners
A screenshot of the Hayes Strategic Partners website.
Hayes Strategic Partners is a boutique consulting firm built around a simple premise: you need both a clear view of risk and a shared path forward. Their operational risk and vulnerability assessment examines agreed workflows, transaction processes, and related controls to surface potential weaknesses and fraud exposure. Their strategic acceleration and leadership alignment service brings the right stakeholders together to clarify challenges, evaluate trade-offs, and establish coordinated decisions. Ongoing advisory and follow-up support helps you maintain momentum after the initial engagement. Family-owned and co-founded by Damika Hayes and Earl Hayes, the firm follows a five-step approach—Discover, Understand, Align, Design, Act—that keeps every engagement customized and practical.
#3 Clark Schaefer Consulting
A screenshot of the Clark Schaefer Consulting website.
Clark Schaefer Consulting brings a team of Certified Fraud Examiners to fraud risk assessment and investigation. Their multi-phased review process assesses accounting records, performs data analytics using computer-assisted audit techniques, and isolates transactions susceptible to manipulation or fraud. They follow a systematic approach to investigations that preserves evidence and ensures accuracy. Beyond detection, they build preventive measures to reduce future exposure. If you suspect fraud or need a rigorous financial review, their investigative depth is worth a conversation.
#4 Protiviti
A screenshot of the Protiviti website.
Protiviti offers operational risk management solutions at enterprise scale. The firm serves organizations across industries and geographies with a broad consulting platform. Their operational risk practice helps you design frameworks, assess controls, and respond to emerging threats. The breadth of their capabilities means you can engage them for a single project or a multi-year transformation. For large organizations needing global reach and deep bench strength, Protiviti is a familiar name.
#5 Wipfli
A screenshot of the Wipfli website.
Wipfli combines risk advisory with industry-specific operational knowledge. Their operational risk services sit alongside forensic advisory, governance risk and controls, and internal controls offerings. The firm serves a wide range of industries, from construction and manufacturing to healthcare and nonprofits. That industry context can help you translate risk findings into operational changes that fit your business. If you want a risk advisor who already understands your sector, Wipfli is a practical option.
How to Choose the Right Advisory Partner
Start with the problem you actually have. If you suspect fraud, prioritize firms with certified fraud examiners and investigation experience. If your leadership team is stuck in competing priorities, look for facilitation and alignment capabilities. If you need both, consider a boutique that connects risk discovery with decision-making support. Ask about engagement structure, follow-up support, and how findings translate into action. Request scoped proposals from two or three firms and compare not just price but the clarity of their approach.
Where Automation Fits in Operational Risk Work
Automation can handle data collection, transaction monitoring, and routine control testing. But operational risk discovery still requires human judgment. The most effective workflow pairs automated analytics with facilitated stakeholder conversations. Use automation to surface anomalies and free up your team to focus on interpretation and decision-making. Then bring in an advisor to help you align on priorities and build an action plan. That combination—machine speed plus human alignment—is where real progress happens.
The Bottom Line
Operational risk is not just a technical problem. It is a people problem. The firms on this list approach it from different angles, but the strongest engagements connect discovery with coordinated action. Hayes Strategic Partners was built around that connection, making it a natural fit for organizations that need both insight and alignment. ChaseWaterford and Clark Schaefer Consulting bring investigative depth. Protiviti and Wipfli offer scale and industry context. Choose the partner whose strengths match your most pressing gap.