Number 15, December 2023
McKinsey on Risk & Resilience, Number 15, December 2023
Across the globe, organizations face a barrage of financial and nonfinancial risks. Leaders must continue to adapt to these risks, identifying, planning, managing, and responding to them in ways that will ensure the health, success, and continued growth of the organization and its constituents.
Organizations must strengthen their risk management capabilities, understand their risk appetite, and identify risks before they happen. This vigilance requires agility at the enterprise and operational levels.
For the past eight years, McKinsey on Risk & Resilience has been a cornerstone of best practices in risk management. Published in 2016, our first issue covered many of the same challenges organizations face today. Yet here we are, with organizations demonstrating unmatched resilience in a world filled with more frequent and ever-evolving risks.
Articles in this issue
Article
Black swans, gray rhinos, and silver linings: Anticipating geopolitical risks (and openings)
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The need for board-level strategic conversations on geopolitical risk is urgent.
Article
What every CEO should know about generative AI
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Generative AI is evolving at record speed while CEOs are still learning the technology’s business value and risks. Here, we offer some of the generative AI essentials.
Article
The data dividend: Fueling generative AI
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Data leaders should consider seven actions to enable companies to scale their generative AI ambitions.
Article
How a defined risk appetite can improve nonfinancial risk management
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Costly and disruptive, nonfinancial risks are an ever-present concern in the financial services industry. A defined risk appetite strategy can mitigate the problem.
Article
How agile operating models benefit risk and compliance functions
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After bringing agile operating models to customer-facing, frontline business units, financial institutions are also seeing the benefits of agile for risk and compliance functions.
Article
Product security: Navigating regulations and customer expectations
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Following five success factors can help create a winning strategy for embedding security into the new-product life cycle.
Article
Moving from crisis to reform: Examining the state of counterparty credit risk
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Counterparty-credit-risk management is becoming more challenging and complex, reflecting a disrupted global economic, political, and regulatory environment, together with historically high levels of volatility.
Article
Green growth: Unlocking sustainability opportunities for retail banks
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A recent McKinsey survey shows broad, unmet consumer demand for climate-linked financial products—but will financial institutions provide the education consumers require and the differentiated offerings needed to win this space?
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