Number 15, December 2023

McKinsey on Risk & Resilience

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

Globe made from squares expanding on white background

Article

Black swans, gray rhinos, and silver linings: Anticipating geopolitical risks (and openings)

February 24, 2023 -

The need for board-level strategic conversations on geopolitical risk is urgent.

Moving illustration of wavy blue lines that was produced using computer code

Article

What every CEO should know about generative AI

May 12, 2023 -

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.

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Article

The data dividend: Fueling generative AI

September 15, 2023 -

Data leaders should consider seven actions to enable companies to scale their generative AI ambitions.

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Article

How a defined risk appetite can improve nonfinancial risk management

October 25, 2023 -

Costly and disruptive, nonfinancial risks are an ever-present concern in the financial services industry. A defined risk appetite strategy can mitigate the problem.

Close up of multiple sheets of green tinted paper in curve shape, blue ball balance at tip

Article

How agile operating models benefit risk and compliance functions

September 1, 2023 -

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.

Multicolored glowing data over digital landscape.

Article

Product security: Navigating regulations and customer expectations

September 8, 2023 -

Following five success factors can help create a winning strategy for embedding security into the new-product life cycle.

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Article

Moving from crisis to reform: Examining the state of counterparty credit risk

October 27, 2023 -

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.

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Article

Green growth: Unlocking sustainability opportunities for retail banks

April 21, 2023 -

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?