Elevate your risk team
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| | | A company’s risk function is only as strong as its people. Yet as the authors of this 2015 classic observe, while companies recognize the importance of talent in risk management, it often takes a back seat to more revenue-generating divisions. But in today’s increasingly complex risk environment—shaped by proliferating AI, shifting regulatory policies, and geopolitical uncertainty—a strong risk function has never been more critical.
To elevate the risk management function, organizations can focus on several key initiatives. First, recruit exceptional people with a compelling value proposition that includes robust development opportunities and a clear growth path. Next, recalibrate performance metrics using a consistent evaluation process that directly links impact to risk objectives. Finally, foster connectivity and cooperation throughout the entire company, including cross-mentoring initiatives among risk and frontline employees, and regular risk training for business unit leaders.
Today’s dynamic risk environment demands an equally dynamic talent management approach. For more on how risk functions can deliver, read our 2015 classic “People and talent management in risk and control functions.” | | | | |
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| Read our latest thinking on this classic topic
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| | | | | The evolving risk landscape provides a chief risk officer (CRO) with an opportunity to position the risk function as a leadership incubator, cultivating high-performing talent prepared to lead across the organization. To start building the next generation of leaders in and out of the risk function, CROs can take four actions, including defining a vision for modern risk leadership and casting a wide net for talent. Read our latest insights on the topic from McKinsey’s Farah Dilber, Ida Kristensen, and coauthors. | | Build future-ready leaders  | | | |
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| | | —Edited by Drew Holzfeind, senior editor, Chicago
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