- 5 December 2018
In 2017 we completed a study on The Future of Operational Risk with McKinsey. The study, based on open interviews with 15 Chief Risk Officers (CROs), recorded a number of emerging themes that subsequent industry trends have confirmed.
The strongest emerging theme was the challenges involved in managing change risk. So, we're partnering with McKinsey again to carry out research to better understand the risks associated with change, and how they can be managed.
About the study
Financial services firms are actively seeking to change, even to transform themselves. Many risk functions are alive to the challenge and want to help manage the risk effectively without being seen as a block on critical business development. We know that CROs are thinking about this a lot. In this study, we want to explore how they see the problem, how happy (or not) they are with the current situation, and what ideas/actions they are exploring to improve.
We believe that this is a critical area of improvement for many financial institutions and that sharing experiences and thoughts can help advance the industry. The study will be based on interviews with 15-20 CROs from major financial institutions, and the final report will be published publicly.
Where are we now?
We are nearing the end of the interviews with CROs. We will then write up the study and publish it in early 2019.