Global economic slowdown, regulatory obligations, pandemics and other critical risks are increasingly complex and connected across a global business network – impacting both financial institutions and their clients alike. Financial institutions are under pressure to demonstrate operational resilience. Digital adoption by both clients and employees has radically changed their interaction with banks, potentially increasing the risk profile in areas such as fraud, conduct and cyber.
Firms across the financial sector must continually evolve in response to these risks and commercial pressures, which will inevitably influence their balance sheet strength and ability to withstand financial shocks. Ensuring risk management strategies evolve with this changing environment, is vital.
Risk consulting experts with an industry focus can provide financial institutions with knowledge, skills, data and experience to recognize and address both the challenges and opportunities through:
- Tailored solutions to optimize risk financing in the hardening insurance market
- Access to proprietary sources of industry insurance claim data and analytics
- Credit risk,
operational risk, cyber risk
and Climate advisory to enable organizations to enhance their operational resilience
- Claims preparation, claims advocacy and pre-loss asset and business interruption valuation to lower the cost of risk and protect the bottom line