The success of the risk function – or any function, for that matter – does not solely depend on the skillsets and roles of individual risk managers. A function’s success also depends on how the company as a whole operates. A recent survey, for instance, found that innovations by one unit often fail to be adopted across the wider company due to issues with how different parts ... Continue Reading »
Board Room
How Chief Human Resources Officers Can Be Your C-Suite’s Innovation Drivers
Patty Sung, Senior Principal and Innovation Leader in Mercer’s Global Digital Innovation Hub Contact Innovation is top of mind for most C-suite executives and directors of companies — and for good reason. According to a study by Credit Suisse, the average life span of an S&P 500 company is now less than 20 years, compared to 60 years in the 1950s. Additionally, Mer ... Continue Reading »
How to Line Up Your Cyber Defense
Given the reality of the cyber threat landscape, you need to determine the tools you need to mitigate and respond to inevitable cyber attacks. Unfortunately, while both the aggressiveness and sophistication of cyber attacks have accelerated, defensive capabilities have been relatively slow to evolve and respond (1). ... Continue Reading »
Bankability through the Lens of Transparency
The decade following the Global Financial Crisis (GFC) was a volatile one for Latin America. After several prosperous years of riding the global commodities boom, the Latin American region experienced a serious economic slowdown. The region was deeply affected by the decline in international trade, the end of the commodity super-cycle, and unstable global financial conditions. ... Continue Reading »
Economic and Governance Risks to the MENA Region
Exogenous factors, such as geo-economic division, climate change and technological threats all pose a particular risk to MENA, but so, too, do hazards that are more regional in nature. According to respondents in the Middle East and North Africa to the World Economic Forum’s Executive Opinion Survey, the top two risks across the region for doing business are “energy price sho ... Continue Reading »
Boardrooms Are Stuck in the 20th Century; Here’s How We Change That
Michelle Daisley, Partner, Oliver Wyman's Financial Services Practice and Margarita Economides, Engagement Manager, Oliver Wyman's Financial Services Practice Contact Is it possible to govern an organization fit for the third decade of the twenty-first century using a board model from the early twentieth century? The pressures on boards and governance models to change ... Continue Reading »
Global Technological Threats
Technology plays a profound role in shaping the global risks landscape in the near and longer term. Concerns about data fraud and cyberattacks were prominent again in the World Economic Forum's Global Risks Perception Survey, with 82 percent of respondents expecting cyberattacks in the form of theft of data or money and 80 percent expecting it in the form of disruptions of ... Continue Reading »
As We Enter the Era of the Ecosystem Economy, Are We Prepared for the Risks?
Leslie Chacko, Managing Director of Digital, Technology and Innovation at Marsh & McLennan Solutions Contact We are entering the era of the ecosystem economy, in which complex networks of companies across industries collaborate to provide seamless experiences for customers. The economic opportunity of operating in an ecosystem is sizable and unprecedented - but so are ... Continue Reading »
Avoiding the cliff edge of no-deal Brexit; MMC Young Professionals’ Global Forum 2019
The United Kingdom's Prudential Regulatory Authority (PRA) has "done as much as it can do to de-risk a no-deal [Brexit] cliff edge," according to Mr. Sam Woods, deputy governor for prudential regulation and chief executive officer of the PRA, Bank of England. ... Continue Reading »
Artificial Intelligence will help automate bespoke policies, says Lloyd’s Maynard; MMC Young Professionals’ Global Forum 2019
Artificial Intelligence (AI) offers the potential to automate how the insurance market delivers truly bespoke insurance products, according to Trevor Maynard, Head of Innovation at Lloyd's. Speaking at the MMC Rising Professionals' Global Forum in London, Dr. Maynard said: "AI raises some really interesting possibilities in terms of automating how we deliver bespoke ... Continue Reading »
