Serving financial institutions is a key part of our professional practice in Moscow. We have worked with many Russian and CIS financial institutions since their founding, supporting their formation and growth. Across the CIS, we have implemented more than 160 projects for major banks, insurance companies, and other financial organizations.
Examples of our work:
- Strategy development. We helped establish a regional strategy for an international banking group, setting up a bank focused on consumer loans and developing new products and sales channels.
- Organizational improvement. We designed a financial-holding-company management model for a bank, including allocating bank branches among business units and implementing a performance-management system.
- Sales system improvement. We conducted a comprehensive analysis of network performance, launched programs for marketing-policy modernization and sales promotion, and supported a direct-sales system implementation.
- IT performance improvement. Our specialists helped restructure the management reporting and planning system, performed an IT architecture analysis, and implemented an efficient system for control and implementation of new IT projects.
- Risk management. We developed processes and tools to assess borrower risk, improved overdue-debt-collection procedures, and proposed organizational solutions to improve overall risk-management capabilities.
- Operational enhancement. We have helped improve the operational performance of banks’ and insurance companies’ branches and supported the centralization of back-office and support functions at several companies to improve cost effectiveness and standardization.
For more about McKinsey’s experience in financial services, visit our global practice homepage.